628.12 Liability of surplus lines insurer. If a surplus lines insurer has assumed a risk and if the premium therefor has been received by the surplus lines agent or broker who placed the insurance, then as between the insurer and the insured the insurer is deemed to have received the premium due to it for the coverage; and the insurer is liable to the insured for losses covered by the insurance and for unearned premiums upon cancellation of the insurance, whether or not the surplus lines agent or broker is indebted to the insurer. Each surplus lines insurer assuming a surplus lines risk under this section thereby subjects itself to the terms of this section.
History: 1975 c. 371.
Structure Wisconsin Statutes & Annotations
Wisconsin Statutes & Annotations
Chapter 628 - Insurance marketing.
628.03 - Requirement of license.
628.05 - Licensing of town mutual agents.
628.06 - Licensing of fraternal agents.
628.07 - Licensing of nonresidents.
628.08 - Changes in status of intermediaries.
628.10 - Termination of license.
628.11 - Appointment of agents.
628.12 - Liability of surplus lines insurer.
628.31 - Sale of insurance through vending machines.
628.34 - Unfair marketing practices.
628.345 - Prohibited practices during license revocation or surrender.
628.347 - Best interest in annuity transactions.
628.348 - Sale of long-term care insurance.
628.35 - Prohibition of exclusive contracts.
628.36 - Limitations on corporations supplying health care services.
628.37 - Preservation of professional relationships in professional services.
628.38 - Disclosure requirements.
628.39 - Extension of credit on premiums.
628.40 - Effect of agent's appointment on insurer.
628.46 - Timely payment of claims.
628.48 - Risk retention groups.
628.78 - Benefit plans for agents.
628.91 - Requirement of licensure or registration.
628.92 - Issuance of license and registration.
628.93 - Other applicable provisions.
628.95 - Navigator and nonnavigator assister conduct.