Insurance Contracts Generally (full chapter)

What this document is

Wis. Stat. ch. 631, Insurance Contracts Generally (full chapter) 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. § 631.07 (4) (Effect of lack of insurable interest or consent)

  “No insurance policy is invalid merely because the policyholder lacks insurable interest or because consent has not been given, but a court with appropriate jurisdiction may order the proceeds to be paid to someone other than the person to whom the policy is designated to be payable, who is...”

• Wis. Stat. § 631.36 (6) to (8) (Cancellation and nonrenewal notice; nonpayment of premium)

  “A notice of cancellation or nonrenewal under sub. (2) (b) or (4) shall state with reasonable precision the facts on which the insurer's decision is based. No such notice is effective unless it so states the facts. (7) CANCELLATION OR NONRENEWAL NOTICE. (a) Except as provided in par. (b), notice of...”

• Wis. Stat. § 631.31 (1) (Clauses required to be on first page; right to return policy)

  “The following clauses of insurance policies shall appear on the first page of the policy: (a) Corporate name. The name of the insurer as required by s. 631.64; (b) Several liability. Information that 2 or more insurers undertake only several liability, as required by s. 631.41; (c) Assessability....”

• Wis. Stat. § 631.07 (3) (a) (Cases where consent is unnecessary)

  “(3) CASES WHERE CONSENT IS UNNECESSARY OR MAY BE GIVEN BY ANOTHER. (a) Consent unnecessary. A life or disability insurance policy may be taken out without consent in any of the following cases: 1. A person may obtain insurance on a dependent who does not have legal capacity. 2. A creditor may at...”

• Wis. Stat. § 631.21 (1) and (2) (Explicit approval required)

  “631.21 Explicit approval required. (1) REQUIRED APDespite filing or general approval of a form under s. 631.20, the following clauses may not be used even if contained in the form unless the commissioner gives explicit approval to them: (a) Expeditious notice. Clauses requiring more expeditious...”

• Wis. Stat. § 631.36 (9) (Termination of insurance contracts by insurers; immunity)

  “(9) IMMUNITY. There is no liability on the part of and no cause of action of any nature arises against any insurer, its authorized representatives, its agents, its employees, or any firm, person or corporation furnishing to the insurer information relating to the reasons for cancellation or nonrenewal,”

• Wis. Stat. § 631.28 (1) and (2) (Notice of right to file complaint)

  “631.28 Notice of right to file complaint. (1) REQUIREMENT TO PROVIDE NOTICE. Every insurer shall provide notice to its policyholders and its insureds of the right to file a complaint with the office in the manner prescribed by rule under sub. (2). (2) CONTENTS BY RULE. The commissioner shall...”

• Wis. Stat. § 631.07 (3) (b) (Consent given by another)

  “(b) Consent given by another. Consent may be given by another in the following cases: 1. A parent, a guardian of the person, or a person having legal custody as defined in s. 48.02 (12) may consent to the issuance of a policy on a dependent child. 2. A grandparent may consent to the issuance of...”

• Wis. Stat. s. 631.07 (4) (Insurable interest and consent; effect of lack of insurable interest or consent)

  “No insurance policy is invalid merely because the policyholder lacks insurable interest or because consent has not been given, but a court with appropriate jurisdiction may order the proceeds to be paid to someone other than the person to whom the policy is designated to be payable, who is...”

• Wis. Stat. s. 631.36 (6) (Termination of insurance contracts by insurers; information about grounds)

  “A notice of cancellation or nonrenewal under sub. (2) (b) or (4) shall state with reasonable precision the facts on which the insurer's decision is based. No such notice is effective unless it so states the facts.”

• Wis. Stat. s. 631.24 (6) (Consumer insurance policy readability)

  “A violation of this section does not void or render voidable any portion of an insurance policy and is not a defense to an action under the insurance policy.”

• Wis. Stat. s. 631.45 (2) (Limitations on loss to be borne by insurer; property coinsurance)

  “A policy indemnifying an insured against loss of or damage to property may limit the part of the loss to be borne by the insurer to a percentage of the total loss that corresponds to the ratio of the insured sum to a specified percentage of the value of the insured property.”

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