618.01 Purposes.
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/wi/chapter-618/618-01A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
618.01 Purposes. The purposes of this chapter are:
(1)To protect insureds, creditors and the public in this state by providing adequate standards and an orderly procedure for the authorization of nondomestic insurers;
(2)To prevent evasion by unauthorized insurers of the regulatory and tax laws of this state and to protect this state and its residents against loss from such action;
(3)To subject unauthorized insurers and other persons doing an insurance business in this state to the jurisdiction of the commissioner and the courts of this state;
(4)To protect authorized insurers from unfair competition by unauthorized insurers; and
(5)To provide an orderly method, under reasonable and practical safeguards, for procuring insurance from unauthorized insurers.