Title 26, Title 26 — Insurance Code

"Surety insurance" defined. (a) 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…

"Casualty insurance" defined. (a) 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…

"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…

What insurance multiple line insurer may transact. 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.

"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.

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…

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 (a) Repealed by Laws 1991, ch. 128, § 2. (b) Repealed by Laws 1991, ch. 128, § 2. (c) Repealed by Laws 1991, ch. 128, § 2. (d) Repealed by Laws 1991, ch. 128, § 2. (e) Repealed by Laws 1991, ch. 128, § 2.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…

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…

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…

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 foreign banking organization licensed, under the…

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…

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…

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…

Life and disability reinsurance agreements; limitations. (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 law or regulation in their domicilia…