By HOWARD WIEDENHOEFT
In 1967, when Wisconsin legislature passed Assembly Bill 296, it allowed town mutuals to write packaged insurance policies and liability insurance. Yet the new law created many issues that were not addressed in it’s statues, such as surplus, advanced premium, unearned premium, and agent licenses. These issues also were not covered in Chapter 202, the state law governing town mutuals since 1937. The state moved to address these issues and codify the town mutual statue with Chapter 612. To rectify this, in 1973 legislature repealed Chapter 202 and replaced it with Chapter 612. Chapter 612 is still in effect today, with the last revision in 1997. [Read more…] about By the Minutes: Introducing Agents to the Mutuals