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Wisconsin Annuity Information

Wisconsin Office of the Commissioner of Insurance

Annuity regulation in Wisconsin is overseen by the Office of the Commissioner of Insurance. The Office of the Commissioner of Insurance has been  vested with broad powers to ensure that the insurance industry responsibly and adequately met the insurance needs of Wisconsin citizens. Today, OCI's mission is to lead the way in informing and protecting the public and responding to its insurance needs.

TheOCI provides consumers with a wealth of information on a wide variety of insurance topics. OCI strives to maintain the most up-to-date information available on insurance regulation and company information so that the public is better informed on insurance in Wisconsin.

 

OCI performs a variety of tasks to protect insurance consumers and ensure a competitive insurance environment. Just some of the consumer services offered by OCI include:

 

  • Reviewing insurance policies that are sold in Wisconsin to ensure they meet the state requirements.
  • Examining foreign and domestic insurers to be sure they are in complete compliance with Wisconsin laws and rules;
  • Keeping tabs of the financial solvency of licensed companies to make sure that consumers have the insurance coverage they were promised, when they need it.
  • Creating and distributing information and consumer education pieces designed to help educate consumers about annuities and other insurance products sold in Wisconsin.



The Commissioner of Insurance for the state of Wisconsin is Ted Nickel of Merrill, WisconsinAppointed on  January 3, 2011 by Governor Scott Walker, Ted Nickel Prior to his appointment, Commissioner Nickel worked for almost 18 years as director of Governmental and Regulatory Affairs for Church Mutual Insurance Company in Merrill, Wisconsin. Commissioner Nickel has been actively engaged in insurance industry affairs in Wisconsin. He has served on the board of directors of the Wisconsin Insurance Alliance, including having served as chair. Commissioner Nickel served on the board of directors of the Wisconsin Insurance Security Fund and the Oklahoma Property Casualty Insurance Guaranty Association, as well as having served as a member of the Legal and Government Affairs Committee of the Property Casualty Insurers Association of America. Commissioner Nickel also worked in the administration of former Governor Tommy Thompson.

Wisconsin Annuity Resources:
The insurance law, s. 601.20, Wis. Stat., authorizes the Commissioner of Insurance to create advisory councils and committees to assist in dealing with regulatory problems. The Commissioner is to provide by rule for the creation, governance, duties, and termination of any council or committee that is established. The expert advice provided the Commissioner through these councils results in more efficient regulation of the insurance industry to the benefit of insurance consumers and insurers.

Capital: Madison
State Commissioner: Ted Nickel
Insurance Hotline: (800) 236-8517
Annuity Guarantee Limit: $300,000
Website:  http://oci.wi.gov/index.htm
Links: Consumer's Guide To Annuities
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