Title 26 — Title 26 — Insurance Code

(a) Definitions. As used in this act: (i) "Commissioner" means as defined in W.S. 26-1-102(a)(viii); (ii) "Health care services" means services for the diagnosis, prevention, treatment, cure or relief of a health condition, illness, injury or disease; (iii) "Health carrier" means…

Discretionary clause prohibited. (a) No policy, contract, certificate or agreement offered or issued in this state by a health carrier to provide, deliver, arrange for, pay for or reimburse any of the costs of health care services may contain a provision purporting to reserve dis…

Penalties. Any person who violates this act is subject to the penalty provided in W.S. 26-1-107, or as provided by any other applicable law which provides a greater penalty.

(b) If the commissioner disapproves the insurance policy, the insurer may request a hearing pursuant to the Wyoming Administrative Procedure Act.

Purpose of chapter; liberal interpretation. The purpose of this chapter is to protect the public and policyholders against the effects of excessive, inadequate or unfairly discriminatory rates by promoting price competition among insurers. The provisions in this chapter are inten…

interpretation. Scope and applicability of chapter; liberal (a) This chapter applies to all kinds of insurance written on risks in this state by any insurer authorized to do business, except nothing in this chapter applies to: (i) Life insurance; (ii) Disability insurance; (iii) …

(a) Definitions. As used in this chapter: (i) "Advisory organization" means any person or organization which assists insurers as authorized by W.S.

Competitive market presumed to exist. A competitive market is presumed to exist except as otherwise provided by this chapter.

Rating standards; methods. (a) Rates shall not be excessive, inadequate or unfairly discriminatory. (b) Risks may be classified in any way except that no risk may be classified in whole or in part on the basis of race, color, creed or national origin. In determining whether rates…

Rate regulation. (a) Rates in a noncompetitive market, when regulated, shall be regulated in accordance with W.S. 26-14-105 through 26-14-108 applicable to noncompetitive markets. (b) The commissioner may regulate rates in an unregulated market if he determines that: (i) market; …

Filing of rates; supplementary rate information; supporting information; public inspection; consent to rates. (a) In competitive markets, every insurer shall maintain all rates and supplementary rate information to be used in this state, in accordance with the provisions of W.S. …

Disapproval of rates; bases; procedures. (a) The commissioner shall disapprove a rate for use in a noncompetitive market if he finds pursuant to subsection (b) of this section that the rate is excessive, inadequate or unfairly discriminatory. (b) Disapproval of rates by the commi…

Advisory organizations; registration required; authorized activities; availability of services. (a) No advisory organization shall provide any service relating to the rates of any insurer subject to this chapter, and no insurer shall utilize the services of such organization for …

Records and reports; exchange of information. (a) Insurers shall file with the commissioner, and the commissioner shall review, reasonable rules and plans for recording and reporting of loss and expense experience. The commissioner may designate one (1) or more advisory organizat…

Insurers and advisory organizations; monopolies prohibited; agreements to adhere prohibited. (a) No insurer or advisory organization shall attempt to monopolize or combine or conspire with any other person to monopolize an insurance market in this state. (b) Except as otherwise p…

activities. Joint underwriting; pool and residual market (a) Insurers participating in joint underwriting, pools or residual market mechanisms may act in cooperation with each other in the making of rates, supplementary rate information, policy or bond forms, surveys, inspections…

examination. Examinations; records; costs; report in lieu of (a) The commissioner may examine any insurer, pool, advisory organization or residual market mechanism to ascertain compliance with this chapter. (b) Every insurer, pool, advisory organization and residual market mechan…

Exemptions. The commissioner may exempt any line of insurance from any or all of the provisions of this chapter for the purpose of relieving the line of insurance from filing provisions of this chapter.

Dividends. Nothing in this chapter shall be construed to prohibit or regulate the payment of dividends, savings or unabsorbed premium deposits allowed or returned by insurers to their policyholders, members or subscribers. A plan for the payment of dividends, savings or unabsorbe…

Penalties; technical violations; revocation and suspension of license; written orders; contents. (a) The commissioner may impose after notice and hearing a penalty of not more than one thousand dollars ($1,000.00) for each violation of this chapter. The penalty may be in addition…

Judicial review. Any order, ruling, finding, decision or other act of the commissioner made pursuant to this chapter shall be subject to judicial review in accordance with the Wyoming Administrative Procedure Act.

Repealed by Laws 1994, ch. 86, § 3.

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.

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.…

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…

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…

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…

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…

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 …

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…

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…

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 …

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…

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…

(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…

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…

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 …

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…

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…

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 …

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…

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…

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…

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 …

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…

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 …

Repealed by Laws 1993, ch. 1, § 2.

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…

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 …

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…