Wis. Stat. ch. 628, Insurance Marketing

What this document is

Wis. Stat. ch. 628, Insurance Marketing (full chapter, 39 sections, 628.01-628.98) is a state statute published by Wisconsin Legislative Reference Bureau. It is one of the Wisconsin documents that insurance license exam questions are written from, including wisconsin life & health, wisconsin property & casualty practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• Wis. Stat. § 628.06 (Licensing of Fraternal Agents)

  “628.06 Licensing of fraternal agents. (1) GENERAL PROVISION. Subject to sub. (2), an agent of a fraternal is subject to the same licensing requirements as an agent for any other insurer doing the same lines of business, unless the agent was an agent for a fraternal immediately prior to October 2,...”

• Wis. Stat. § 628.46 (1) (Timely payment of claims; interest on overdue payments)

  “All overdue payments shall bear simple interest at the rate of 7.5 percent per year.”

• Wis. Stat. § 628.46 (2) (Timely payment of claims; when payment is not yet overdue)

  “Notwithstanding sub. (1), the payment of a claim shall not be overdue until 30 days after the insurer receives the proof of loss required under the policy or equivalent evidence of such loss.”

• Wis. Stat. § 628.10 (5) (b) (Termination of License: relicensing after revocation)

  “(b) Relicensing required after 12 months. An intermediary or individual navigator specified in par. (a) whose license has been revoked for more than 12 months is not eligible to have his or her license reinstated under par. (a) but may apply for relicensing at any time after 12 months have elapsed...”

• Wis. Stat. ch. 628 § 628.347(2c)(b) (Best interest in annuity transactions; disclosure obligation)

  “Upon request of the consumer or the consumer's designated representative, an insurance intermediary shall disclose all of the following: 1. A reasonable estimate of the amount of cash compensation to be received by the intermediary, which may be stated as a range of amounts or percentages. 2....”

• Wis. Stat. ch. 628 § 628.345(2) (Prohibited practices during license revocation or surrender)

  “During the disciplinary period of a disciplined person, the disciplined person may not be employed by, act as agent for, or be affiliated with, a person engaged in the business of an insurance intermediary.”

• Wis. Stat. ch. 628 § 628.07 (Licensing of nonresidents)

  “The commissioner shall waive any examination requirement for a nonresident applicant under s. 628.04 if the applicant's home state or state of residence has issued the applicant a license for which the qualifications are equivalent to the qualifications for a license issued by this state and if...”

• Wis. Stat. ch. 628 § 628.347(3m) (Best interest in annuity transactions; prohibited acts of intermediary)

  “An insurance intermediary may not dissuade, or attempt to dissuade, a consumer from doing any of the following: (a) Truthfully responding to an insurer's request for confirmation of consumer profile information. (b) Filing a complaint. (c) Cooperating with the investigation of a complaint.”

• Wis. Stat. ch. 628 § 628.095(2) (Social security and federal employer identification numbers; refusal to issue license or register)

  “The commissioner may not issue a license, including a temporary license, under this subchapter or subch. V, or register a navigator entity under subch. V, unless the applicant provides his or her social security number, if the applicant is a natural person unless the applicant does not have a...”

• Wis. Stat. § 628.02 (3) and (4) (Definitions; insurance broker and insurance agent)

  “(3) INSURANCE BROKER. An intermediary is an insurance broker if the intermediary acts in the procuring of insurance on behalf of an applicant for insurance or an insured, and does not act on behalf of the insurer except by collecting premiums or performing other ministerial acts. (4) INSURANCE...”

• Wis. Stat. § 628.347 (4m) (a) and (b) 1. a. (Insurance intermediary training)

  “(4m) INSURANCE INTERMEDIARY TRAINING. (a) An insurance intermediary may not solicit the sale of an annuity product unless the insurance intermediary has adequate knowledge of the product to recommend the annuity and the insurance intermediary is in compliance with the insurer's standards for...”

• Wis. Stat. § 628.46 (2m) (a) (Timely payment of claims; chiropractic services)

  “(2m) (a) Notwithstanding subs. (1) and (2) and except as provided in par. (b), a claim for payment for chiropractic services is overdue if not paid within 30 days after the insurer receives clinical documentation from the chiropractor that the services were provided unless, within those 30 days,...”

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More Wisconsin sources

• Wis. Stat. s. 628.34: Unfair marketing practicesState statute
• Wis. Stat. Chapter 632 - Insurance Contracts in Specific Lines (selected life and disability sections)State statute
• Wis. Stat. ch. 600, Insurance, Scope and Administration (selected sections)State statute
• Wis. Stat. ch. 631, Insurance Contracts Generally (full chapter)State statute
• Wis. Stat. ch. 632, Insurance Contracts in Specific Lines (full chapter)State statute
• Wisconsin Accident and Health or Sickness: General and State Examination Content Outline (Series 22-03)Candidate handbook or exam outline
• Wisconsin Casualty: General and State Examination Content Outline (Series 22-07)Candidate handbook or exam outline
• Wisconsin Insurance Licensing Candidate Information BulletinCandidate handbook or exam outline