Title 26, Title 26 — Insurance Code

Unearned premium reserve; generally. (a) As to property, casualty and surety insurances the insurer shall maintain an unearned premium reserve on all policies in force as required under regulations adopted by the commissioner. In promulgating regulations under this subsection, th…

Unearned premium reserve; marine and transportation insurance. As to marine and transportation insurance, the unearned premium reserve shall be determined pursuant to the most recent National Association of Insurance Commissioners' accounting practices and procedures manual.

Unearned premium reserve; reserve for disability insurance. For all disability insurance policies the insurer shall maintain an active life reserve which shall place a sound value on its liabilities under those policies and be not less than the reserve according to appropriate st…

Unearned premium reserve; increase of inadequate reserves. If an insurer's loss experience shows or the commissioner determines that its loss reserves are inadequate, the insurer shall maintain loss reserves in an increased amount as is needed to make them adequate.

Short title; definitions. (a) This article is known as the Standard Valuation Law. (b) For the purposes of this article the following definitions shall apply on or after the operative date of the valuation manual. To the extent a definition which follows is inconsistent or differ…

Annual valuation of reserves required; minimum standard valuation; other valuations accepted; conditions. (a) Policies and contracts issued prior to the operative date of the valuation manual shall be governed by the following provisions: (i) The commissioner, annually, shall val…

Reserve calculation; valuation net premium exceeding gross premium charged. (a) If in any contract year the gross premium charged by any insurer on any policy or contract is less than the valuation net premium for the policy or contract calculated by the method used in calculatin…

Computation of minimum standard; reserve valuation method, life insurance and endowment benefits; annuity and pure endowment benefits; minimum reserves; reserve calculation; indeterminate plans. (a) Repealed by Laws 1994, ch. 76, § 3. (b) Except as otherwise provided in W.S. 26-6…

Computation of minimum standard for annuities; computation of minimum standard valuation by calendar year of issue. (a) Except as provided in subsection (b) of this section the minimum standard of valuation for individual annuity and pure endowment contracts issued on or after th…

Minimum standards for accident and health insurance contracts including disability plans. The commissioner shall promulgate regulations containing the minimum standards applicable to the valuation of accident and health contracts, including disability plans, issued prior to the o…

Actuarial opinion of reserves. (a) Repealed by Laws 2017, ch. 67, § 3. (b) Repealed by Laws 2017, ch. 67, § 3. (c) Repealed by Laws 2017, ch. 67, § 3. (d) Repealed by Laws 2017, ch. 67, § 3. (e) Repealed by Laws 2017, ch. 67, § 3. (f) Repealed by Laws 2017, ch. 67, § 3. (g) Actua…

Valuation manual for policies and contracts; amendments to manual; rules on minimum valuation standards; actuarial examinations. (a) For policies or contracts issued on or after the operative date of the valuation manual, the standard prescribed in the valuation manual is the min…

Principle based valuation; requirements. (a) An insurer shall establish reserves using a principle based valuation that meets all of the following conditions for policies or contracts issued on or after the operative date of the valuation manual as specified in the valuation manu…

Experience data reporting for policies and contracts. An insurer shall submit mortality, morbidity, policyholder behavior or expense experience and other data as prescribed in the valuation manual.

Confidential information; when disclosure is permitted. (a) Privilege for, and confidentiality of, confidential information is as follows: (i) Except as otherwise provided in this section, an insurer's confidential information is confidential and privileged and shall not be subje…

Single state exemption. (a) The commissioner may exempt specific product forms or product lines of a domestic insurer that is licensed and doing business only in Wyoming from the requirements of W.S. 26-6-209, provided that: (i) The commissioner has issued an exemption in writing…

Valuation of bonds and other debt securities. (a) The commissioner may, by rule or regulation, require that any bond or other evidence of debt held by an insurer be valued in accordance with the most recent published valuation standards of the National Association of Insurance Co…

Valuation of other securities. (a) The commissioner may, by rule or regulation, require that securities other than securities referred to in W.S. 26-6-301 and except as provided in W.S. 26-16-502(a)(iv), held by an insurer, be valued in accordance with the most recent published v…

Valuation of real and personal property. (a) All real property shall be valued as set forth in the most recent National Association of Insurance Commissioners' accounting practices and procedures manual. (i) Repealed by Laws 1994, ch. 76, § 3. (ii) Repealed by Laws 1994, ch. 76, …

Valuation of purchase money mortgages. Purchase money mortgages on real property shall be valued in accordance with the most recent National Association of Insurance Commissioners' accounting practices and procedures manual.

"Insolvency" and "impairment" defined. (a) An insurer is insolvent if its total assets, as in this chapter provided, are less than its total liabilities, excluding as a liability, as to a stock insurer, the aggregate par value of its outstanding capital stock. (b) An insurer is i…

Short title; effective date. This article shall be known as the property and casualty actuarial opinion law. W.S. 26-6-402 and 26-6-403 shall be effective beginning January 1, 2008 and shall be applicable to filings submitted after January 1, 2009.

Actuarial opinion of reserves and supporting documentation. (a) Every property and casualty insurance company doing business in this state, unless otherwise exempted by the domiciliary commissioner, shall annually submit the opinion of an appointed actuary entitled "statement of …

Confidentiality. (a) The statement of actuarial opinion required under W.S. 26-6-402 shall be provided with the annual statement in accordance with National Association of Insurance Commissioners property and casualty annual statement instructions and shall be treated as a public…