Title 26, Title 26 — Insurance Code
56 chapters · 1,073 sections in this title.
W.S. § 26-9-211 License denial, nonrenewal or revocation
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License denial, nonrenewal or revocation. (a) The commissioner may, after appropriate notice and opportunity for hearing pursuant to the Wyoming Administrative Procedure Act and in accordance with W.S. 26-2-125 through 26-2-129, place on probation, suspend, revoke or refuse to is…
W.S. § 26-9-212 Commissions
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Commissions. (a) An insurer or insurance producer shall not pay a commission, service fee, brokerage or other valuable consideration to a person for selling, soliciting or negotiating insurance in this state if that person is required to be licensed under this chapter and is not …
W.S. § 26-9-213 Appointments
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Appointments. (a) An insurance producer shall not act as an agent of an insurer unless the insurance producer becomes an appointed agent of that insurer. An insurance producer who is not acting as an agent of an insurer is not required to become appointed. (b) To appoint a produc…
W.S. § 26-9-214 Notification to commissioner of termination
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Notification to commissioner of termination. (a) An insurer or authorized representative of the insurer that terminates the appointment, employment, contract or other insurance business relationship with a producer for any reason shall notify the commissioner within thirty (30) d…
W.S. § 26-9-215 Reciprocity
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Reciprocity. (a) The commissioner shall waive any requirements for a nonresident license applicant with a valid license from his home state, except the requirements imposed by W.S. 26-9-208, if the applicant's home state awards nonresident licenses to residents of this state on t…
W.S. § 26-9-216 Reporting of actions
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Reporting of actions. (a) A licensee shall report to the commissioner any administrative action taken against the licensee in another jurisdiction or by another governmental agency in this state within thirty (30) days of the final disposition of the matter. This report shall inc…
W.S. § 26-9-217 Regulations; limitation
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Regulations; limitation. (a) The commissioner may, in accordance with W.S. 26-2-110 promulgate reasonable regulations as are necessary or proper to carry out the purposes of this chapter. (b) Repealed By Laws 2007, Ch. 43, § 1.
W.S. § 26-9-219 Adjuster's license; exception; notification
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Adjuster's license; exception; notification. (a) Application for license as an adjuster shall be made to the commissioner on forms he prescribes and furnishes. The commissioner shall issue the license as to qualified individuals upon payment of the license application fee stated …
W.S. § 26-9-220 Insurance consultants
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Insurance consultants. (a) No person shall be held out to the public as an insurance consultant for hire unless a license as such has been issued in accordance with this section. (b) An application for a license to act as an insurance consultant for hire shall be made to the comm…
W.S. § 26-9-224 Scope of broker's authority; broker's commissions
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Scope of broker's authority; broker's commissions. (a) Any insurance producer acting in the capacity of a broker is not an agent or other representative of an insurer and does not have power by his own acts to obligate the insurer upon any risk or by any insurance transaction. (b…
W.S. § 26-9-225 Broker and agent license combinations
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Broker and agent license combinations. The sole relationship between an insurance producer acting in the capacity of a broker and an insurer as to which he is then appointed as an agent, as to transactions arising during the existence of that agency appointment, is that of insure…
W.S. § 26-9-226 "Controlled business" restrictions
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"Controlled business" restrictions. (a) The commissioner shall not grant, renew, continue or permit to exist any license as an insurance producer if he finds that the license has been or is being used principally for the purpose of writing "controlled business" as follows: (i) In…
W.S. § 26-9-227 Authority under license to transact business; nontransferability
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Authority under license to transact business; nontransferability. Any licensee under this chapter may transact business as authorized by the license throughout the state of Wyoming. No city, county or other political subdivision of this state shall require any other or further pe…
W.S. § 26-9-228 Place of business of licensees; display of licenses; records
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Place of business of licensees; display of licenses; records. (a) Each resident insurance producer shall have and maintain in this state a place of business accessible to the public and in which the licensee principally conducts transactions under his license. The address of the …
W.S. § 26-9-229 Reporting and accounting for premiums
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Reporting and accounting for premiums. (a) Any premiums or return premiums received by an insurance producer are trust funds received in a fiduciary capacity, and the producer, in the regular course of business, shall account for and pay the funds to the insured, insurer or insur…
W.S. § 26-9-230 Service of process on nonresident producers
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Service of process on nonresident producers. (a) Application for and acceptance of a license as a nonresident insurance producer or surplus lines broker constitutes irrevocable appointment of the commissioner as the attorney of the licensee for the acceptance of service of proces…
W.S. § 26-9-231 (d) A business entity licensed as a specialty limited lines producer shall keep a register of each location at which insurance is offered on the licensed business entity's behalf
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(d) A business entity licensed as a specialty limited lines producer shall keep a register of each location at which insurance is offered on the licensed business entity's behalf. (e) A business entity licensed as a specialty limited lines producer for specialty limited lines ins…
W.S. § 26-9-233 Assumed names
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Assumed names. An insurance producer doing business under any name other than the producer's legal name is required to notify the insurance commissioner prior to using the assumed name.
W.S. § 26-9-234 Specialty limited lines producer license
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Specialty limited lines producer license. (a) The commissioner may issue to an applicant a specialty limited lines producer license for the sale, solicitation or delivery of specialty lines insurance where the sale of the product is ancillary to the business of the person offerin…
W.S. § 26-9-235 Licensing examination review panel
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Licensing examination review panel. (a) The commissioner shall review the procedures for administering examinations required by this chapter no less than every three (3) years. The review shall include consideration of employing outside testing services as authorized by W.S. 26-9…
W.S. § 26-11-101 Short title
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Short title. This chapter constitutes and may be cited as the "Nonadmitted Insurance Law".
W.S. § 26-11-102 Home state regulation of nonadmitted insurance; exemptions
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Home state regulation of nonadmitted insurance; exemptions. (a) This chapter does not apply to reinsurance or to the following insurances when placed by licensed insurance producers or surplus lines brokers of this state or when procured directly by an insured from a nonadmitted …
W.S. § 26-11-103 Definitions
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Definitions. (a) As used in this chapter: (i) "Admitted insurer" means an insurer authorized to transact the business of insurance in this state; (ii) Repealed by Laws 2020, ch. 45, § 2. (iii) "Export" means to place surplus lines insurance with a nonadmitted insurer; (iv) "Home …
W.S. § 26-11-104 Conditions for export
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Conditions for export. (a) If certain insurance coverages cannot be procured from admitted insurers, those coverages, designated in this chapter as "surplus lines", may be procured from nonadmitted insurers, subject to the following conditions: (i) The insurance shall be procured…
W.S. § 26-11-105 Surplus lines transaction report
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Surplus lines transaction report. (a) Within forty-five (45) days after placing any surplus line insurance for an insured whose home state is this state, each surplus lines broker shall execute and file a report regarding the insurance coverage which shall be kept confidential by…
W.S. § 26-11-106 Open lines for export
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Open lines for export. (a) The commissioner, by order, may declare eligible for export generally and without compliance with W.S. 26-11- 104(a)(ii) and (iii), any type of insurance coverage or risk for which he finds, after notice and a hearing, that there is not a reasonable or …
W.S. § 26-11-107 Requirements for eligible nonadmitted insurers; publication of eligible insurers
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Requirements for eligible nonadmitted insurers; publication of eligible insurers. (a) Repealed By Laws 2012, Ch. 37, § 3. (b) Repealed By Laws 2012, Ch. 37, § 3. (c) The commissioner may issue an order of ineligibility if he finds or has reason to believe that the insurer: (i) Do…
W.S. § 26-11-108 Evidence of surplus lines insurance
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Evidence of surplus lines insurance. (a) Upon placing surplus lines insurance coverage, the surplus lines broker shall promptly issue and deliver to the insured or the producer the policy, or if the policy is not then available, a certificate as described in subsection (f) of thi…
W.S. § 26-11-109 Required information on surplus lines contracts; duty to notify insured
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Required information on surplus lines contracts; duty to notify insured. (a) Every new or renewed insurance contract, certificate, cover note or other confirmation of insurance that is procured and delivered as a surplus lines coverage pursuant to this chapter shall have stamped …
W.S. § 26-11-110 Enforceability and validity of nonadmitted insurance
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Enforceability and validity of nonadmitted insurance. Insurance contracts procured from nonadmitted insurers in accordance with this chapter are fully valid and enforceable as to all parties and shall be given recognition in all matters and respects to the same effect as like con…
W.S. § 26-11-111 Liability of insurer as to losses and unearned premiums; applicability of section to insurers
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Liability of insurer as to losses and unearned premiums; applicability of section to insurers. (a) As to a surplus line risk which is assumed by a nonadmitted insurer pursuant to this chapter, and if the premium thereon is received by the surplus line broker who placed the insura…
W.S. § 26-11-112 Surplus lines broker's license; authority for issuance; application; fee; applicable law
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Surplus lines broker's license; authority for issuance; application; fee; applicable law. (a) Repealed By Laws 2012, Ch. 37, § 3. (b) Repealed By Laws 2012, Ch. 37, § 3. (c) Repealed By Laws 2012, Ch. 37, § 3. (d) Repealed By Laws 2012, Ch. 37, § 3. (e) For insureds whose home st…
W.S. § 26-11-113 Surplus lines broker's license; suspension or revocation; grounds; procedure
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Surplus lines broker's license; suspension or revocation; grounds; procedure. (a) The commissioner may, after appropriate notice and opportunity for hearing pursuant to the Wyoming Administrative Procedure Act and in accordance with W.S. 26-2-125 through 26-2-129, place on probat…
W.S. § 26-11-114 Surplus line broker's bond
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Surplus line broker's bond. Prior to issuance of a license as a surplus line broker, the applicant shall file with the commissioner and thereafter for as long as the license remains in effect shall keep in force a bond in favor of the state of Wyoming in the penal sum of ten thou…
W.S. § 26-11-115 Surplus lines broker may accept and place business from producers
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Surplus lines broker may accept and place business from producers. A licensed surplus lines broker may accept and place surplus line business for any insurance producer licensed in this state for the kind of insurance involved and may compensate the producer therefor.
W.S. § 26-11-116 Records of broker; contents; examination
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Records of broker; contents; examination. (a) Each surplus lines broker shall keep in his office a full and true record of each surplus lines insurance contract placed by or through the broker for which this state is the home state of the insured, including a copy of the policy, …
W.S. § 26-11-117 Surplus lines broker affidavit report
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Surplus lines broker affidavit report. (a) Each surplus lines broker, on or before February 15, May 15, August 15 and November 15 of each year, if applicable, shall file with the commissioner an affidavit report verifying that all surplus lines insurance transacted during the pre…
W.S. § 26-11-118 Tax on surplus lines
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Tax on surplus lines. (a) Repealed By Laws 2011, Ch. 103, § 3. (b) Repealed By Laws 2011, Ch. 103, § 3. (c) In addition to the full amount of gross premiums charged by the insurer for the insurance, every surplus lines broker shall collect and pay to the commissioner a sum equal …
W.S. § 26-11-119 Failure to file report or pay tax; penalty
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Failure to file report or pay tax; penalty. Any licensed surplus lines broker or insured who independently procures insurance, who fails to file a report in the form and within the time required or provided for in W.S. 26-11-117 or 26-11-124 may be fined up to twenty-five dollars…
W.S. § 26-11-120 Service of process against nonadmitted insurer
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Service of process against nonadmitted insurer. (a) A nonadmitted insurer shall be sued, upon any cause of action arising in this state under any contract it issues as a nonadmitted insurance contract pursuant to this chapter, in the district court of the county in which the caus…
W.S. § 26-11-121 Rules and regulations
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Rules and regulations. (a) The commissioner shall make or may approve and adopt reasonable rules and regulations, consistent with this chapter, for any of the following purposes: (i) Carrying out of this chapter; (ii) Establishment of procedures through which eligibility of parti…
W.S. § 26-11-122 Disclosure to commissioner of insurance placed with nonadmitted insurer
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Disclosure to commissioner of insurance placed with nonadmitted insurer. Any person for whom insurance is placed with an nonadmitted insurer, upon the commissioner's order, shall produce for his examination all policies and other documents evidencing the insurance and shall discl…
W.S. § 26-11-123 Interstate insurance regulatory cooperation
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Interstate insurance regulatory cooperation. To carry out the purposes of the Nonadmitted and Reinsurance Reform Act of 2010, 15 U.S.C. 8201 et seq., the commissioner may participate in a nonadmitted insurance multistate agreement or compact for the purposes of collecting, alloca…
W.S. § 26-11-124 Independently procured insurance; duty to report and pay tax
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Independently procured insurance; duty to report and pay tax. (a) Each insured whose home state is this state and who independently procures, continues or renews insurance with a nonadmitted insurer, other than insurance procured through a surplus lines broker, shall, within fort…
W.S. § 26-12-101 "Industrial insured" defined
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"Industrial insured" defined. (a) As used in this chapter: (i) "Industrial insured" means an insured: (A) Which procures the insurance of any risk other than life and annuity contracts through the services of a full-time employee acting as an insurance manager or buyer or the ser…
W.S. § 26-12-102 Representing or aiding unauthorized insurers prohibited; exceptions
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Representing or aiding unauthorized insurers prohibited; exceptions. (a) No person in this state shall: (i) Act as agent for, or otherwise represent or aid on behalf of another, any insurer not then authorized to transact insurance in this state, in the: (A) Solicitation, negotia…
W.S. § 26-12-103 Suits by unauthorized insurers prohibited
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Suits by unauthorized insurers prohibited. As to transactions not permitted under W.S. 26-3-102, no unauthorized insurer shall institute or file or cause to be instituted or filed, any suit, action or proceeding in this state to enforce any right, claim or demand arising out of a…
W.S. § 26-12-201 Short title; interpretation of article
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Short title; interpretation of article. (a) This article constitutes and may be cited as the "Unauthorized Insurers Process Act". (b) This article shall be so interpreted as to carry out its general purpose to make uniform the laws of those states which enact it.
W.S. § 26-12-202 Commissioner as agent for service
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Commissioner as agent for service. (a) Solicitation, carrying out or delivery of any insurance contract, by mail or otherwise, within this state by an unauthorized insurer, or the performance within this state of any other service or transaction connected with insurance by or on …
W.S. § 26-12-203 Service of process generally
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Service of process generally. (a) Service of process upon any insurer pursuant to W.S. 26-12-202 shall be made in accordance with W.S. 26-3-122, and service of process is sufficient if it complies with that section. (b) Service of process in any such action, suit or proceeding, i…