628.40 Effect of agent's appointment on insurer. Every insurer is bound by any act of its agent performed in this state that is within the scope of the agent's apparent authority, while the agency contract remains in force and after that time until the insurer has made reasonable efforts to recover from the agent its policy forms and other indicia of agency. Reasonable efforts shall include a formal demand in writing for return of the indicia, and notice to the commissioner if the agent does not comply with the demand promptly.
History: 1975 c. 371, 421.
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.