Title 26 — Title 26 — Insurance Code
56 chapters · 1,242 sections in this title.
W.S. § 26-5-101 Definitions not mutually exclusive
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Definitions not mutually exclusive. It is intended that certain insurance coverages may come within the definitions of two (2) or more kinds of insurance in this chapter, and the inclusion of a coverage within one (1) definition does not preclude it from being included within ano…
W.S. § 26-5-102 "Life insurance" defined
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"Life insurance" defined. (a) Life insurance is insurance on human lives and the transaction of life insurance includes also the granting of: (i) Endowment benefits; (ii) Additional benefits because of death or dismemberment by accident or accidental means; (iii) disability; and …
W.S. § 26-5-103 "Disability insurance" defined
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"Disability insurance" defined. (a) Disability insurance is insurance of any kind on human beings against: (i) Bodily injury, disablement or death by accident or accidental means, or the expense thereof; or (ii) Disablement or expense resulting from sickness. (b) For any statute …
W.S. § 26-5-104 "Property insurance" defined
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"Property insurance" defined. Property insurance is insurance on any property against loss or damage from any cause, and against loss consequential upon that loss or damage, other than noncontractual legal liability for that loss or damage. Property insurance does not include tit…
W.S. § 26-5-105 (a) "Surety insurance" defined
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(a) "Surety insurance" defined. Surety insurance includes: (i) Fidelity insurance, which is insurance guaranteeing the fidelity of persons holding positions of public or private trust; (ii) Insurance guaranteeing the performance of contracts, other than insurance policies, and gu…
W.S. § 26-5-106 (a) "Casualty insurance" defined
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(a) "Casualty insurance" defined. Casualty insurance includes: (i) Insurance against: (A) Loss of or damage to any land vehicle or aircraft or any draft or riding animal or to property while contained therein or thereon or being loaded or unloaded therein or therefrom, from any c…
W.S. § 26-5-107 "Marine and transportation insurance" and "wet marine and transportation insurance" defined
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"Marine and transportation insurance" and "wet marine and transportation insurance" defined. (a) "Marine and transportation insurance" includes: (i) Insurance against any kinds of loss or damage to: (A) Vessels, craft, aircraft vehicles of any kind, all cargoes, effects, disburse…
W.S. § 26-5-108 transact
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transact. What insurance multiple line insurer may A multiple line insurer may transact any kind of insurance defined in this chapter, other than title insurance and, except as provided in W.S. 26-3-107(a)(i), life insurance or the granting of annuities.
W.S. § 26-5-109 "Title insurance" defined
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"Title insurance" defined. Title insurance is insurance of owners of property or others having an interest therein, or liens or encumbrances thereon, against loss by encumbrance, defective titles, invalidity or adverse claim to title.
W.S. § 26-5-110 Limit of risk
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Limit of risk. (a) No insurer, other than a title insurer, shall retain any risk on any one (1) subject of insurance, regardless of where located or to be performed, in an amount exceeding ten percent (10%) of its surplus to policyholders. (b) A "subject of insurance" for the pur…
W.S. § 26-5-111 Reinsurance
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Reinsurance. (a) Repealed by Laws 1991, ch. 128, § 2. (b) Repealed by Laws 1991, ch. 128, § 2. (c) Repealed by Laws 1991, ch. 128, § 2. (d) Repealed by Laws 1991, ch. 128, § 2. (e) Repealed by Laws 1991, ch. 128, § 2. (f) An insurer may accept reinsurance only on the risks and wi…
W.S. § 26-5-112 Credit allowed a domestic ceding insurer
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Credit allowed a domestic ceding insurer. (a) Except as provided in W.S. 26-5-113, and in addition to any rules adopted by the commissioner pursuant to W.S. 26-5-116 relating to the valuation of assets or reserve credits, the amount and forms of security supporting reinsurance ar…
W.S. § 26-5-113 Reduction from liability for reinsurance ceded by a domestic insurer to an assuming insurer
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Reduction from liability for reinsurance ceded by a domestic insurer to an assuming insurer. (a) A reduction from liability for the reinsurance ceded by a domestic insurer to an assuming insurer not meeting the requirements of W.S. 26-5-112 shall be allowed in an amount not excee…
W.S. § 26-5-114 Any other form of security acceptable to the Qualified United States financial institutions
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Any other form of security acceptable to the Qualified United States financial institutions. (a) For purposes of W.S. 26-5-113(a)(iii), a "qualified United States financial institution" means an institution that: (i) Is organized or, in the case of a United States office of a for…
W.S. § 26-5-115 Reinsurance payable without diminution due to insolvency of ceding insurer
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Reinsurance payable without diminution due to insolvency of ceding insurer. No credit or reduction of liability for reinsurance ceded under W.S. 26-5-112 or 26-5-113 shall be allowed unless the agreement provides that the reinsurance is payable by the assuming insurer on the basi…
W.S. § 26-5-116 Rules and regulations; reporting
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Rules and regulations; reporting. (a) The commissioner may adopt rules and regulations implementing the provisions of W.S. 26-5-111 through 26-5-117. (b) Upon the commissioner's request, an insurer shall promptly inform him in writing of the cancellation or any other material cha…
W.S. § 26-5-117 Reinsurance agreements affected
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Reinsurance agreements affected. W.S. 26-5-112 through 26-5-116 shall apply to all cessions after the effective date of this act under reinsurance agreements which have had an inception, anniversary or renewal date not less than six (6) months after the effective date of this act…
W.S. § 26-5-118 W.S. § 26-5-118
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[Repealed or reserved.]
W.S. § 26-5-119 limitations
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limitations. Repealed by Laws 1994, ch. 76, § 3. Life and disability reinsurance agreements; (a) This section shall apply to all domestic life and domestic disability insurers and to all other licensed life and disability insurers which are not subject to a substantially similar …