§ 625.01 — Construction and purposes.

Wisconsin § 625.01

• Jurisdiction: Wisconsin
• Ch. 625: Insurance — rate regulation

Text

625.01
625.01(1) (1) Construction. This chapter shall be liberally construed to achieve the purposes stated in sub. (2) , which shall constitute an aid and guide to interpretation but not an independent source of power.
625.01(2) (2) Purposes. The purposes of this chapter are:
625.01(2)(a) (a) To protect policyholders and the public against the adverse effects of excessive, inadequate or unfairly discriminatory rates;
625.01(2)(b) (b) To encourage, as the most effective way to produce rates that conform to the standards of par. (a) , independent action by and reasonable price competition among insurers;
625.01(2)(c) (c) To provide formal regulatory controls for use if independent action and price competition fail;
625.01(2)(d) (d) To authorize cooperative action among insurers in the rate-making process, and to regulate such cooperation in order to prevent practices that tend to bring about monopoly or to lessen or destroy competition;
625.01(2)(e) (e) To encourage the most efficient and economic marketing practices; and
625.01(2)(f) (f) To regulate the business of insurance in a manner that will preclude application of federal antitrust laws.