Title 26 — Title 26 — Insurance Code
56 chapters · 1,242 sections in this title.
W.S. § 26-15-101 Scope of chapter
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Scope of chapter. (a) This chapter applies to all insurance contracts and annuity contracts except: (i) Reinsurance; (ii) Policies or contracts not issued for delivery in this state nor delivered in this state; (iii) Wet marine and transportation insurance.
W.S. § 26-15-102 Life insurance upon individual or person in whom he has insurable interest; "insurable interest" defined
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Life insurance upon individual or person in whom he has insurable interest; "insurable interest" defined. (a) Any individual of competent legal capacity may procure or effect an insurance contract upon his own life or body for the benefit of any person. Except as provided in W.S.…
W.S. § 26-15-103 institutions
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institutions. Life insurance for benefit of charitable (a) Contracts of life insurance may be made and entered into in which the person paying the consideration for the insurance has no insurable interest in the life of the person insured, if charitable, benevolent, educational o…
W.S. § 26-15-104 Insurable interest in property; "insurable interest" defined
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Insurable interest in property; "insurable interest" defined. (a) No contract of insurance of property or of any interest in property or arising from property is enforceable as to the insurance except for the benefit of persons having an insurable interest in the things insured a…
W.S. § 26-15-105 Purchase of life insurance by or for minors or any person of competent legal capacity
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Purchase of life insurance by or for minors or any person of competent legal capacity. (a) Any person of competent legal capacity may contract for insurance. (b) Any minor not less than fifteen (15) years of age, notwithstanding his minority, may contract for or own annuities, or…
W.S. § 26-15-106 exceptions
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exceptions. Application to be made by individual insured; (a) No life or disability insurance contract upon an individual, except a contract of group life insurance or of group or blanket disability insurance, shall be made or carried out unless at the time of the making of the c…
W.S. § 26-15-107 exceptions
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exceptions. Alteration of application prohibited; No alteration of any written application for any life or disability insurance policy shall be made by any person other than the applicant without his written consent, except that the insurer may make insertions for administrative …
W.S. § 26-15-108 Application as evidence
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Application as evidence. (a) No application for the issuance of any life or disability insurance policy or annuity contract is admissible in evidence in any action relative to the policy or contract, unless a true copy of the application is attached to or otherwise made a part of…
W.S. § 26-15-109 Statements in applications as representations and not as warranties; misrepresentations
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Statements in applications as representations and not as warranties; misrepresentations. (a) Any statements and descriptions in any application for an insurance policy or annuity contract, by or in behalf of the insured or annuitant, are representations and not warranties. Misrep…
W.S. § 26-15-110 Filing and approval of application forms
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Filing and approval of application forms. (a) No basic insurance policy or annuity contract form, or application form if written application is required and is to be made a part of the policy or contract, or printed rider or endorsement form or form of renewal certificate, shall …
W.S. § 26-15-111 Filing and approval of application forms; grounds for disapproval
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Filing and approval of application forms; grounds for disapproval. (a) The commissioner, within forty-five (45) days after filing of any insurance policy, shall disapprove any form filed under W.S. 26-15-110, or withdraw any previous approval thereof, only if: (i) The form: (A) I…
W.S. § 26-15-112 Standard and uniform provisions of policies
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Standard and uniform provisions of policies. (a) Insurance contracts shall contain any standard or uniform provisions required by the applicable provisions of this code pertaining to contracts of particular kinds of insurance. The commissioner may waive the required use of a part…
W.S. § 26-15-113 (a) Contents of policies generally
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(a) Contents of policies generally. Any policy shall specify: (i) The names of the parties to the contract; (ii) The subject of the insurance; (iii) The risks insured against; (iv) The time when the insurance thereunder takes effect and the period during which the insurance is to…
W.S. § 26-15-114 Additional policy contents
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Additional policy contents. (a) A policy may contain additional provisions not inconsistent with this code and which are: (i) Required to be inserted by the laws of the insurer's domicile; (ii) Necessary, because of the manner in which the insurer is constituted or operated, in o…
W.S. § 26-15-115 prohibited
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prohibited. Adoption of charter and bylaws by reference No policy shall contain any provision purporting to make any portion of the charter, bylaws or other constituent document of the insurer, other than the subscriber's agreement or power of attorney of a reciprocal insurer, a …
W.S. § 26-15-116 Execution of policies
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Execution of policies. (a) Any insurance policy shall be executed in the name of and on behalf of the insurer by its authorized officer, attorney-in-fact, employee or other representative. (b) A facsimile signature of any executing individual may be used instead of an original si…
W.S. § 26-15-117 Underwriters' and combination policies
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Underwriters' and combination policies. (a) Two (2) or more authorized insurers may jointly issue, and are jointly and severally liable on, an underwriters' policy bearing their names. Any insurer may issue a policy in the name of an underwriters' department, and the policy shall…
W.S. § 26-15-118 policies
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policies. Validity and construction of noncomplying (a) Any policy delivered or issued for delivery to any person in this state in violation of this code, but otherwise binding on the insurer, is valid, but shall be construed as provided in this code. (b) Any condition, omission …
W.S. § 26-15-119 insurance
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insurance. Binders and other contracts for temporary (a) Binders or other contracts for temporary insurance may be made orally or in writing and include all the usual terms of the policy as to which the binder is given together with applicable endorsements as are designated in th…
W.S. § 26-15-120 Delivery of policy; duplicate policies
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Delivery of policy; duplicate policies. If the original policy is delivered or is required to be delivered to or for deposit with any vendor, mortgagee or pledgee of any motor vehicle, and in which policy any interest of the vendee, mortgagor or pledgor in or with reference to th…
W.S. § 26-15-121 Renewal by certificate or endorsement
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Renewal by certificate or endorsement. (a) Except as provided in subsection (b) of this section, any insurance policy terminating by its terms at a specified expiration date, and not otherwise renewable, may be renewed or extended: (i) At the insurer's option; (ii) Upon a current…
W.S. § 26-15-122 Assignment of policies
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Assignment of policies. A policy is assignable or not assignable as provided by its terms. Subject to its terms relating to assignability, any life or disability policy, under the terms of which the beneficiary may be changed upon the sole request of the insured or owner, may be …
W.S. § 26-15-123 Payment discharges insurer
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Payment discharges insurer. If the proceeds of or payments under any life or disability insurance policy or annuity contract are payable in accordance with the terms of the policy or contract, or the exercise of any right or privilege thereunder, and the insurer makes payment the…
W.S. § 26-15-124 Claim to be accepted or rejected; attorney's fee
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Claim to be accepted or rejected; attorney's fee. (a) Claims for benefits under a life, accident or health insurance policy shall be rejected or accepted and paid by the insurer or its agent designated to receive the claims within forty-five (45) days after receipt of the proofs …
W.S. § 26-15-125 Repealed by Laws 1993, ch
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Repealed by Laws 1993, ch. 1, § 2.
W.S. § 26-15-126 Forms for proof of loss to be furnished
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Forms for proof of loss to be furnished. An insurer, upon written request of any person claiming to have a loss under an insurance contract issued by that insurer, shall furnish forms of proof of loss for completion by the person. The insurer, because of the requirement to furnis…
W.S. § 26-15-127 Uniform health insurance claim forms
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Uniform health insurance claim forms. The commissioner shall prescribe uniform health insurance claim forms and formats for governmental agencies and health care providers as defined by W.S. 26-40-102(a)(i), which, after January 1, 1997, shall be used by all insurers transacting …
W.S. § 26-15-128 Insurer's acts not constituting waiver of policy provisions or defenses
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Insurer's acts not constituting waiver of policy provisions or defenses. (a) None of the following acts by or on behalf of an insurer constitutes a waiver of any provision of a policy, or of any right, or of any defense of the insurer thereunder or otherwise: (i) Acknowledgment o…
W.S. § 26-15-129 Exemption of proceeds; life insurance
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Exemption of proceeds; life insurance. (a) If a policy of insurance is executed by any person on his own life or on another life, in favor of a person other than himself, or except in cases of transfer with intent to defraud creditors, if a policy of life insurance is assigned or…
W.S. § 26-15-130 Exemption of proceeds; disability insurance
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Exemption of proceeds; disability insurance. Except as otherwise provided by the policy or contract, the proceeds of all contracts of disability insurance and of provisions specifying benefits because of the insured's disability, which are supplemental to any life insurance or an…
W.S. § 26-15-131 Exemption of proceeds; group insurance
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Exemption of proceeds; group insurance. (a) A policy of group life insurance or group disability insurance or the proceeds thereof, including death benefits, cash surrender and loan values, premiums waived and dividends, whether used in reduction of premiums or otherwise, excepti…
W.S. § 26-15-132 Exemption of proceeds; annuity contracts; assignability of rights
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Exemption of proceeds; annuity contracts; assignability of rights. (a) The benefits, rights, privileges and options which under any annuity contract issued are due or prospectively due the annuitant, are not subject to execution nor is the annuitant compelled to exercise any such…
W.S. § 26-15-133 Retention of proceeds of policy by company
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Retention of proceeds of policy by company. (a) Any life insurer may hold the proceeds of any life or endowment insurance or annuity contract it issues: (i) Upon the terms and restrictions as to revocation by the insured and control by beneficiaries; (ii) With the exemptions from…
W.S. § 26-15-134 Venue of suits against insurers
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Venue of suits against insurers. Suit upon causes of action arising within this state against an insurer over an insurance contract shall be brought in the county where the cause of action arose or in the county where the policyholder instituting the action resides.
W.S. § 26-15-135 Coverage of children
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Coverage of children. (a) No insurance company, multi-employer trust or other provider of an individual, group or blanket health insurance product in this state shall: (i) Refuse to accept and honor an otherwise valid claim for a covered service which is filed by either parent of…
W.S. § 26-15-136 Assignment of insurance proceeds to doctor, hospital or state agency; lien for state care; notice of lien
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Assignment of insurance proceeds to doctor, hospital or state agency; lien for state care; notice of lien. (a) Whenever a contract by a third party agency provides for payment to a beneficiary under the contract for expenses incurred by him for medical, surgical or hospital care,…
W.S. § 26-15-137 Time limit to seek reimbursement for health insurance overpayments
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Time limit to seek reimbursement for health insurance overpayments. An action or request for reimbursement of any overpayment of a health insurance claim to a health care provider pursuant to any health insurance contract shall be brought not more than two (2) years after the dat…
W.S. § 26-15-201 compact
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compact. Interstate insurance product regulation The Interstate Insurance Product Regulation Compact is hereby enacted into law and entered into on behalf of this state with any and all other states legally joining therein in a form substantially as follows: INTERSTATE INSURANCE …