The following topics provide general information about the Wisconsin Insurance Plan. You can scroll down the page to read each one or you can click and go directly to the topic.
Address, Telephone, Fax, E-mail, and Hours.
Wisconsin Administrative Code INS 4.10.
Operation of the Plan and the Governing Committee.
Authority of Producers ("Insurance Agents").
ADDRESS, TELEPHONE, FAX, E-MAIL AND HOURS.
Wisconsin Insurance Plan
700 West Michigan Street, Suite 320
Milwaukee, Wisconsin 53233-2415
Phone: 414.291.5353
Fax: 414.291.5365
E-mail: thewip@execpc.com
Hours: 8:00am - 4:00pm, Monday through Friday
Close at 1:00pm Fridays, April through October
WISCONSIN ADMINISTRATIVE CODE INS 4.10
This section of the code sets forth the rules and procedures of the Plan. Here you will find our purpose, definitions, eligible properties, application procedure including the requirement for documentation of rejection, underwriting standards, the customer's right to hearing, and information on commissions and the authority of "insurance agents". To visit Ins 4.10, click here (link requires Adobe Acrobat Reader).
OPERATION OF THE PLAN AND THE GOVERNING COMMITTEE
The Plan operates like a small insurance company. We underwrite applications, survey properties, and adjust claims. Independent service providers are used for all claim handling and for surveys outside of the southeastern area of the state.
The Plan is overseen by a Governing Committee subject to the supervision of the Commissioner of Insurance. The Governing Committee consists of 8 insurer representatives, 2 insurance agents, and 5 public members.
The Plan has NO sales agents. We use the term producer to refer to the "insurance agent" or licensed intermediary who assists applicants in applying to the Plan. Producers are NOT representatives or agents of the Plan.
Producers CANNOT:
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Act as agents for the Plan. |
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Bind coverage for the Plan. |
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Alter or change policies of the Plan. |
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Settle losses of the Plan. |
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Collect or receive premiums on Plan policies. |
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Decline or refuse to insure a risk on behalf of the Plan. |
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Act on behalf of the Plan or commit the Plan to any course of action. |
Producers SHOULD:
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Assist applicants to the Plan. |
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Submit properly completed and signed applications to the Plan. |
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Submit proper documentation of rejection with applications. |
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Be familiar with this website. |
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Follow the rules and procedures of the Plan and Section Ins 4.10 of the Wisconsin Administrative Code. |
Please refer to the Wisconsin Administrative Code section Ins 4.10, especially paragraph (19), for more information.
Commissions are 10% of the policy premium. They are paid the month after the policy is issued. For example, if a policy was issued in January, the commission for that policy would be paid in February. Commission checks are mailed early in the month.
If the Plan pays a return premium to the customer, the commission previously paid to the producer on that return premium must be returned to the Plan. The commission statement will indicate a payment is due to the Plan. Failure to remit return commissions in 15 days may result in a complaint to the Office of the Commissioner of Insurance.
Although reasonable efforts have been made to ensure that electronic information on the Wisconsin Insurance Plan web site is complete, accurate, and timely, we do not represent that the information is complete, accurate and timely in all instances. All information is subject to change on a regular basis, without notice.
You have visited http://www.wisinsplan.com
Most recent update: March, 2008
For more information, contact thewip@execpc.com
© 2000 Wisconsin Insurance Plan