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Bills · 2017-2018 Regular Session

SB 77

Became law Official bill text Atom feed

Relating to: surplus lines insurance policies issued by domestic insurers. (FE)

Insurance — Commissioner, office of Insurance — Miscellaneous

  1. Introduced, completed
  2. Passes Senate, completed
  3. Passes Assembly, completed
  4. Governor signs, completed
  5. Law, completed

Unfamiliar terms? Glossary

What this bill does

Plain-language analysis by the nonpartisan Legislative Reference Bureau

This bill allows an insurer that is domiciled in this state to provide surplus lines

insurance in this state if the insurer meets certain requirements. Under current law,

only an unauthorized insurer that is not domiciled in this state may provide surplus

lines insurance in this state, subject to certain requirements and limitations. Under

this bill, an insurer domiciled in this state may apply to the commissioner of

insurance for a certificate allowing the insurer to provide surplus lines insurance in

this state as a domestic surplus lines insurer. In order to receive the certificate, the

insurer must have a resolution to become a domestic surplus lines insurer adopted

by its board of directors; have at least $15,000,000 in capital and surplus; and be

eligible to provide surplus lines insurance in at least one other state. The bill

specifies that an insurance policy issued by a domestic surplus lines insurer is not

protected by the Wisconsin insurance security fund and is subject to the same

taxation under current law as a surplus lines insurance policy. The bill also specifies

that a domestic surplus lines insurer may only offer surplus lines insurance.

What it would cost

Fiscal estimates filed by state agencies, as official PDFs

Sponsors

Introduced by: Bewley (D) , Craig (R) , L. Taylor (D) , Lasee (R) , Olsen (R)

14 cosponsors

Allen (R) , Berceau (D) , Doyle (D) , Duchow (R) , Gannon (R) , Genrich (D) , Horlacher (R) , Kessler (D) , Kooyenga (R) , Murphy (R) , Nygren (R) , Skowronski (R) , Steffen (R) , Tusler (R)

Votes

Senate: Report adoption of Senate Amendment 1 recommended by Committee on Insurance, Housing and Trade, Ayes 5, Noes 0

Passed 5–0 Mar 13, 2017 official source full page

No individual roll call was recorded for this vote. Committee votes and some older sessions record totals only.

Senate: Report passage as amended recommended by Committee on Insurance, Housing and Trade, Ayes 5, Noes 0

Passed 5–0 Mar 13, 2017 official source full page

No individual roll call was recorded for this vote. Committee votes and some older sessions record totals only.

Assembly: CONCURRENCE

Passed 97–0 May 10, 2017 official source full page

Aye · 97

Not voting · 2

Full history

  1. Feb 23, 2017 · Senate

    Introduced by Senators Lasee, Bewley, Craig, Olsen and L. Taylor; cosponsored by Representatives Steffen, Allen, Berceau, Doyle, Duchow, Gannon, Genrich, Horlacher, Kessler, Kooyenga, Murphy, Nygren and Skowronski

  2. Feb 23, 2017 · Senate

    Read first time and referred to Committee on Insurance, Housing and Trade

  3. Feb 28, 2017 · Senate

    Senate Amendment 1 offered by Senator Lasee

  4. Mar 1, 2017 · Senate

    Fiscal estimate received

  5. Mar 8, 2017 · Senate

    Public hearing held

  6. Mar 8, 2017 · Senate

    Executive action taken

  7. Mar 13, 2017 · Senate

    Report adoption of Senate Amendment 1 recommended by Committee on Insurance, Housing and Trade, Ayes 5, Noes 0

  8. Mar 13, 2017 · Senate

    Report passage as amended recommended by Committee on Insurance, Housing and Trade, Ayes 5, Noes 0

  9. Mar 13, 2017 · Senate

    Available for scheduling

  10. Mar 31, 2017 · Senate

    Placed on calendar 4-4-2017 pursuant to Senate Rule 18(1)

  11. Apr 4, 2017 · Senate

    Read a second time

  12. Apr 4, 2017 · Senate

    Senate Amendment 1 adopted

  13. Apr 4, 2017 · Senate

    Ordered to a third reading

  14. Apr 4, 2017 · Senate

    Rules suspended

  15. Apr 4, 2017 · Senate

    Read a third time and passed

  16. Apr 4, 2017 · Senate

    Ordered immediately messaged

  17. Apr 4, 2017 · Assembly

    Received from Senate

  18. Apr 11, 2017 · Assembly

    Read first time and referred to committee on Rules

  19. Apr 20, 2017 · Assembly

    Representative Tusler added as a cosponsor

  20. May 4, 2017 · Assembly

    Placed on calendar 5-10-2017 by Committee on Rules

  21. May 10, 2017 · Assembly

    Rules suspended to withdraw from calendar and take up

  22. May 10, 2017 · Assembly

    Read a second time

  23. May 10, 2017 · Assembly

    Ordered to a third reading

  24. May 10, 2017 · Assembly

    Rules suspended

  25. May 10, 2017 · Assembly

    Read a third time and concurred in, Ayes 97, Noes 0

  26. May 10, 2017 · Assembly

    Ordered immediately messaged

  27. May 11, 2017 · Senate

    Received from Assembly concurred in

  28. Jun 15, 2017 · Senate

    Report correctly enrolled

  29. Jun 15, 2017 · Senate

    LRB correction

  30. Jun 20, 2017 · Senate

    Presented to the Governor on 6-20-2017

  31. Jun 22, 2017 · Senate

    Report approved by the Governor on 6-21-2017. 2017 Wisconsin Act 16

  32. Jun 22, 2017 · Senate

    Published 6-22-2017