INSURANCE SECURITY FUND

SUBCHAPTERI
GENERAL ORGANIZA TION
646.01 Scope and purposes.
646.03 Definitions.
646.11 Organization and administration of fund.
646.12 Administration of the fund.
646.13 Special duties and powers of the fund related to loss claims.
646.15 Proceedings involving insurers.
646.16 Payment of deposits made for benefit of creditors.
646.21 Custody and investment of assets.
SUBCHAPTER II
CLAIMS PROCEDURES
646.31 Eligible claims.
646.32 Appeal and review.
646.325 Recovery of amounts paid to 3rd parties.
646.33 Subrogation and cooperation.
646.35 Continuation of coverage.
646.41 Tax exemption.
646.51 Assessments.
646.60 Claims by security funds.
646.61 Disposal and transfer of assets.
Cross−reference: See definitions in ss. 600.03and 628.02.
NOTE:  Chapter 109, laws of 1979, which r epealed andrecreated this chapter ,
containednotes explaining the revision.
SUBCHAPTERI
GENERAL ORGANIZA TION
646.01 Scopeand purposes.  (1) SCOPE.(a)  General.
Thischapter applies to:
1.All kinds and lines of direct insurance, except as provided
inpar. (b).
2.All insurers authorized to do business in this state except:
a.Fraternals that are not health maintenance organization
insurers.
b.Assessable mutuals, including town mutuals.
c. Mutual municipal insurers under s. 611.11 (4).
e. Limited service health organization insurers.
f. Miscellaneous insurers and motor clubs under ch. 616.
g. State insurance funds under chs. 604to 607.
h. Risk retention groups.
i.Service insurance corporations that offeronly dental or
visioncare.
j.Nondomestic insurers that have not obtained a certificateof
authorityto do business in this state and thatare doing business
unders. 618.41or 618.42.
k. Risk−sharing plans under ch. 619.
L. The patients compensation fund under s. 655.27.
(b)  Exceptions.This chapter doesnot apply to any of the fol-lowing:
1.Any portion ofa life insurance policy or annuity contract
thatis not guaranteed by the insurer or under which the risk is
borneby the policy or policyholder.
2. Title insurance.
3.Surety bonds, fidelity bonds and any other bondingobliga-tions.
4.Bail bonds.
5.Mortgage guaranty, financial guaranty and other forms of
insuranceoffering protection against investment risks.
6. Ocean marine insurance.
7. Credit insurance.
8.  Product liability or completed operations liability insur-ance,and comprehensive general liability including either of
thesecoverages, provided to a risk purchasing group or amember
ofa risk purchasing group.
9.Any self−funded, self−insured, or partiallyor wholly unin-suredplan of an employer or other person to provide life insur-ance,annuity , or disability benefits to its employees or members
tothe extent that the plan is self−funded, self−insured, or unin-sured.
10. Any liability for dividends or experience rating credits
payableafter the date of entry of the order of liquidation under an
insuranceor annuity contract, and any fees orallowances due any
person,including the policyholder , in connectionwith service to
oradministration of the contract.
11. Any warranty or service contract.
11m.Any contractual liability policy that is issued to a war-rantor,warranty plan, warranty plan administrator, or servicecon-tractprovider and that provides coverage of any liability or perfor-mancearising out of orin connection with a warranty or service
contract.
12. Municipal bond insurance.
13.Any transaction or combination of transactions between
aperson, including affiliates ofsuch person, and an insurer,
includingaffiliates ofsuch insurer, which involves the transfer of
investmentor credit riskunaccompanied by transfer of insurance
risk.
14.A policy issued by an insurer to, or a contract entered into
by an insurer with, a care management organization, as defined in
s. 46.2805 (1), or the department of health services or any other
governmentalentity under any state law to provide prepaidhealth
careto medical assistance recipients.
15. An unallocated annuity contract.
16.A contractual agreement thatobligates an insurer to pro-videa book value accounting guarantee for defined contribution
benefitplan participants byreference to a portfolio of assets that
isowned by the benefit plan or its trustee, neither of which is an
affiliate of the insurer .
17.Any liability under a policy or contract to the extent that
itprovides for interest or other changes in value that are to be
determinedbythe use of an index or other external reference
statedin the policy or contract and to the extent that the interest
orother changes in value have not been credited to the policy or
contractas of the date of the entry of the order of liquidation and
aresubject to forfeiture. If a policy’ sor contract’ s interest or other
changesin value are credited less frequently than annually , for
purposesof determining the values that have been credited and
that are notsubject to forfeiture, the interest or change in value
determinedby using the procedures specified in thepolicy or con-tractwill be credited as if the contractual date of crediting interest
orother changes in value was the date of entry of the order of liqui-dationand will not be subject to forfeiture.
18.Thedeductible, self−funded, or self−insured portion of a
claimunder a liability or worker’scompensation insurance policy ,
regardless of the timing or method provided in the policy , endorse-ment,or any other agreement for payment of the deductible, self−
funded,or self−insured amount bythe insured. This subdivision
doesnot apply to a worker’ s compensation insurancepolicy