Wisconsin § 645.58 Reinsurer’s liability; arbitration clauses.

Wisconsin Statutes

§ 645.58 — Reinsurer’s liability; arbitration clauses.

Wisconsin § 645.58

Ch. 645Insurers rehabilitation and liquidation

Subch.subch. III of ch. 645 SUBCHAPTER III

FORMAL PROCEEDINGS

This text of Wisconsin § 645.58 (Reinsurer’s liability; arbitration clauses.) is published on Counsel Stack Legal Research, covering Wisconsin primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wis. Stat. § 645.58 (2026).

Text

58
58(1) (1) Liability. Except as provided in this subsection and in s. 646.35 (8) (e) , the amount recoverable by the liquidator from a reinsurer shall not be reduced as a result of delinquency proceedings, regardless of any provision in the reinsurance contract or other agreement. Payment made directly to an insured or other creditor shall not diminish the reinsurer’s obligation to the insurer’s estate except when any of the following applies:
58(1)(a) (a) The reinsurance contract or other agreement specifically provides for another payee of the reinsurance in the event of delinquency proceedings, payment is made to the other payee, and the payment operates to extinguish the liability of the ceding insurer to the extent of the payment made by the reinsurer.
58(1)(b) (b) T

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645.58
645.58(1) (1) Liability. Except as provided in this subsection and in s. 646.35 (8) (e) , the amount recoverable by the liquidator from a reinsurer shall not be reduced as a result of delinquency proceedings, regardless of any provision in the reinsurance contract or other agreement. Payment made directly to an insured or other creditor shall not diminish the reinsurer’s obligation to the insurer’s estate except when any of the following applies:
645.58(1)(a) (a) The reinsurance contract or other agreement specifically provides for another payee of the reinsurance in the event of delinquency proceedings, payment is made to the other payee, and the payment operates to extinguish the liability of the ceding insurer to the extent of the payment made by the reinsurer.
645.58(1)(b) (b) The reinsurer has assumed policy obligations of the ceding insurer as direct obligations of the reinsurer, payment is made to the payees under the policies, and the assumption operates to extinguish the liability of the ceding insurer to the extent assumed.
645.58(2) (2) Arbitration. After December 31, 1989, a domestic insurer may not enter into a reinsurance contract that contains an arbitration provision permitting its reinsurer to require arbitration of an action on or related to the contract when the domestic insurer is subject to a delinquency proceeding under this subchapter.