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618.01 Purposes.

WI Stat § 618.01 (2019) (N/A)
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618.01 Purposes. The purposes of this chapter are:

(1) To protect insureds, creditors and the public in this state by providing adequate standards and an orderly procedure for the authorization of nondomestic insurers;

(2) To prevent evasion by unauthorized insurers of the regulatory and tax laws of this state and to protect this state and its residents against loss from such action;

(3) To subject unauthorized insurers and other persons doing an insurance business in this state to the jurisdiction of the commissioner and the courts of this state;

(4) To protect authorized insurers from unfair competition by unauthorized insurers; and

(5) To provide an orderly method, under reasonable and practical safeguards, for procuring insurance from unauthorized insurers.

History: 1971 c. 260.

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618.02 Definitions.