Title 26 — Title 26 — Insurance Code
56 chapters · 1,242 sections in this title.
W.S. § 26-2-129 W.S. § 26-2-129
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[Repealed or reserved.]
W.S. § 26-3-101 Certificate of authority required
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Certificate of authority required. (a) No person shall act as an insurer and no insurer shall transact insurance in this state unless authorized by a subsisting certificate of authority granted by the commissioner, except as to transactions expressly otherwise provided in this co…
W.S. § 26-3-102 When certificate not required
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When certificate not required. (a) A certificate of authority is not required of an insurer for: (i) Investigation, settlement or litigation of claims under its policies lawfully written in this state, or liquidation of its assets and liabilities, other than collection of new pre…
W.S. § 26-3-103 business
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business. General qualifications for authority to transact (a) To transact insurance in this state an insurer shall be in compliance with this code, and its charter powers and shall be an incorporated stock insurer, an incorporated mutual insurer or a reciprocal insurer of the sa…
W.S. § 26-3-104 Insurers not qualified to transact business in state; credit and investigation reports
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Insurers not qualified to transact business in state; credit and investigation reports. (a) No foreign insurer owned or controlled in any manner or degree by any government or governmental agency shall be authorized to transact insurance in Wyoming. Membership in a mutual insurer…
W.S. § 26-3-105 Qualification of new foreign insurers
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Qualification of new foreign insurers. (a) No foreign insurer is authorized to transact insurance in Wyoming if that insurer has not been issuing its own policies as an authorized insurer for at least two (2) years, unless the insurer is otherwise qualified for a certificate of a…
W.S. § 26-3-106 Conflict of names prohibited
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Conflict of names prohibited. (a) No insurer shall be formed or authorized to transact insurance in this state if that insurer has or uses a name which: (i) Is the same as or deceptively similar to that of another insurer already authorized; (ii) In the case of a life insurer is …
W.S. § 26-3-107 Insurer may be authorized to transact combination of kinds of insurance; exceptions
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Insurer may be authorized to transact combination of kinds of insurance; exceptions. (a) A qualified insurer may be authorized to transact one (1) or more kinds of insurance as defined in chapter 5 of this code, except: (i) A life insurer may grant annuities and may be authorized…
W.S. § 26-3-108 Capital and surplus requirements
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Capital and surplus requirements. (a) To qualify for authority to transact any kind of insurance as defined in chapter 5 or combination of kinds of insurance as specified in this subsection, a foreign insurer, or a domestic stock insurer applying for its certificate of authority,…
W.S. § 26-3-109 requirements
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requirements. Delayed compliance with capital and surplus (a) A domestic or foreign insurer holding a valid certificate of authority to transact insurance in this state as of April 1, 1985, may continue to transact the kinds of insurance permitted by the certificate of authority …
W.S. § 26-3-110 Additional kinds of insurance authorized for certain insurers
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Additional kinds of insurance authorized for certain insurers. (a) Without additional capital or additional surplus, an authorized insurer is also authorized: (i) If a life insurer, to grant annuities; (ii) If a disability insurer, to insure against congenital defects as defined …
W.S. § 26-3-111 Deposit required of insurers
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Deposit required of insurers. (a) The commissioner shall not authorize an insurer to transact insurance in this state unless it makes and thereafter continuously maintains in trust in this state through the commissioner, or in another state as provided in subsection (b) of this s…
W.S. § 26-3-112 Certificate of authority; application; contents of application
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Certificate of authority; application; contents of application. (a) An insurer shall apply to the commissioner for a certificate of authority, stating under oath of the president, or vice-president or other chief officer and the secretary of the insurer, or of the attorney-in-fac…
W.S. § 26-3-113 delivery
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delivery. Certificate of authority; issuance; contents; (a) If the commissioner finds that the insurer meets the certificate requirements under this code, he shall issue to the insurer a proper certificate of authority. If he finds the insurer does not meet the certificate requir…
W.S. § 26-3-114 Certificate of authority; continuation; expiration; reinstatement
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Certificate of authority; continuation; expiration; reinstatement. (a) A certificate of authority issued under this code continues in force until suspended or revoked by the commissioner or terminated at the insurer's request, subject to continuance by the insurer each year by: (…
W.S. § 26-3-115 Suspension, revocation of certificate of authority; mandatory grounds; hearing required
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Suspension, revocation of certificate of authority; mandatory grounds; hearing required. (a) The commissioner shall refuse to continue or shall suspend or revoke an insurer's certificate of authority if: (i) code; That action is required by any provision of this (ii) A foreign in…
W.S. § 26-3-116 Suspension and revocation of certificate of authority; discretionary and special grounds
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Suspension and revocation of certificate of authority; discretionary and special grounds. (a) The commissioner may refuse to continue or may suspend or revoke an insurer's certificate of authority if he finds after a hearing that the insurer has: (i) Violated or failed to comply …
W.S. § 26-3-117 Suspension and revocation of certificate of authority; order and notice of suspension
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Suspension and revocation of certificate of authority; order and notice of suspension. (a) All suspensions or revocations of or refusals to continue an insurer's certificate of authority shall be by the commissioner's order given to the insurer. (b) Upon issuance of an order, the…
W.S. § 26-3-118 Suspension, revocation of certification of authority; duration of suspension; reinstatement
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Suspension, revocation of certification of authority; duration of suspension; reinstatement. (a) Suspension of an insurer's certificate of authority shall be for the period the commissioner specifies in the order of suspension, but not to exceed one (1) year. During the suspensio…
W.S. § 26-3-119 General corporation laws not applicable to authorized foreign insurers
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General corporation laws not applicable to authorized foreign insurers. The general corporation laws of this state do not apply to foreign insurers holding certificates of authority to transact insurance in this state.
W.S. § 26-3-120 authorized
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authorized. Property insurance under 1 additional title (a) A property insurer or multiple line insurer authorized to transact insurance in Wyoming may issue property insurance policies under its own name or under one (1) additional "title" registered with the commissioner. (b) U…
W.S. § 26-3-121 service
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service. Service of process; commissioner as agent for (a) Before the commissioner issues a certificate of authority to any foreign, alien or domestic reciprocal insurer, each insurer shall appoint the commissioner, and his successors in office, as its attorney to receive service…
W.S. § 26-3-123 Annual and quarterly statement; required; form; verification; failure to file
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Annual and quarterly statement; required; form; verification; failure to file. (a) Each authorized insurer, annually, on or before March 1, or within any extended time the commissioner grants, not to exceed thirty (30) days, shall file with the commissioner a full and true statem…
W.S. § 26-3-124 Annual statement; reporting of claims against health care providers; confidentiality; abstract of statistics
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Annual statement; reporting of claims against health care providers; confidentiality; abstract of statistics. (a) At the discretion of the commissioner and after notice provided under subsection (d) of this section, any insurer writing coverage for health care malpractice in this…
W.S. § 26-3-125 Annual statement; mandatory reporting of claims against governmental entity
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Annual statement; mandatory reporting of claims against governmental entity. (a) On or before March 15 of each year, each insurer providing insurance to a governmental entity, as defined in W.S. 1-39-103(a)(i), shall file with the commissioner of insurance a report of the claims …
W.S. § 26-3-126 statements
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statements. Annual statement; correction and publication of (a) As soon as reasonably possible after the insurer files its annual statement with the commissioner, the commissioner shall review the statement and require correction of any errors or omissions. (b) shall: After any c…
W.S. § 26-3-127 Repealed by Laws 2000, Ch
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Repealed by Laws 2000, Ch. 19, § 2.
W.S. § 26-3-128 Repealed by Laws 2000, Ch
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Repealed by Laws 2000, Ch. 19, § 2.
W.S. § 26-3-129 Repealed by Laws 2000, Ch
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Repealed by Laws 2000, Ch. 19, § 2.
W.S. § 26-3-130 countries
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countries. Retaliatory provisions against other states and (a) The commissioner shall impose upon any insurer, or upon the agent or representative of that insurer of any other state or any foreign country doing business in Wyoming the same taxes, licenses and other fees, in the a…
W.S. § 26-3-131 Disclosure of loss information; penalties
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Disclosure of loss information; penalties. (a) Any insurer writing property or casualty insurance in this state as defined in W.S. 26-5-104 and 26-5-106, shall provide the following information to the named insured within thirty (30) days of receipt of the insured's written reque…
W.S. § 26-3-132 Commissioner's authority
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Commissioner's authority. (a) For the purposes of making a determination of an insurer's financial condition under this code, the commissioner may: (i) Disregard any credit or amount receivable resulting from transactions with a reinsurer which is insolvent, impaired or otherwise…
W.S. § 26-3-133 Judicial review
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Judicial review. Any order or decision of the commissioner pursuant to this title shall be subject to review in accordance with the Wyoming Administrative Procedure Act, W.S. 16-3-101 through 16-3-115, at the instance of any party to the proceedings whose interests are substantia…
W.S. § 26-3-201 Short title
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Short title. This article is known and may be cited as the "Insurance Regulatory Information System Act".
W.S. § 26-3-202 Immunity
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Immunity. Members of the National Association of Insurance Commissioners, their duly authorized committees, subcommittees, and task forces, their delegates, National Association of Insurance Commissioners employees, and all others charged with the responsibility of collecting, re…
W.S. § 26-3-203 Confidentiality
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Confidentiality. All financial analysis ratios and examination synopsis concerning insurance companies that are submitted to the department by the National Association of Insurance Commissioners' Insurance Regulatory Information System are confidential and shall not be disclosed …
W.S. § 26-3-204 Filing requirements; penalty
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Filing requirements; penalty. (a) Each domestic, foreign or alien insurer authorized to transact insurance in this state shall annually on or before March 1, file with the National Association of Insurance Commissioners a copy of its annual statement convention blank along with s…
W.S. § 26-3-122 W.S. § 26-3-122
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[Repealed or reserved.]
W.S. § 26-3-301 Scope of article
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Scope of article. (a) Every insurer as defined by W.S. 26-1-102(a)(xvi) shall be subject to this article. Insurers having direct premiums written in this state of less than one million dollars ($1,000,000.00) in any calendar year and less than one thousand (1,000) policyholders o…
W.S. § 26-3-302 (a) Definitions
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(a) Definitions. As used in this article: (i) "Accountant" or "independent certified public accountant" means an independent certified public accountant or accounting firm in good standing with the American Institute of Certified Public Accountants and in all states in which they…
W.S. § 26-3-303 General requirements related to filing and extensions for filing of annual audited financial reports; audit committee appointment
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General requirements related to filing and extensions for filing of annual audited financial reports; audit committee appointment. (a) All insurers shall have an annual audit by an independent certified public accountant and shall file an audited financial report with the commiss…
W.S. § 26-3-304 Contents of annual audited financial report
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Contents of annual audited financial report. (a) The annual audited financial report shall report the financial position of the insurer as of the end of the most recent calendar year and the results of its operations, cash flows and changes in capital and surplus for that year in…
W.S. § 26-3-305 accountant
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accountant. Designation of independent certified public (a) Each insurer required by this article to file an annual audited financial report shall within sixty (60) days after becoming subject to the requirement, register with the commissioner in writing the name and address of t…
W.S. § 26-3-306 accountant
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accountant. Qualifications of independent certified public (a) The commissioner shall not recognize any person or firm as a qualified independent certified public accountant if that person or firm: (i) Is not in good standing with the American Institute of Certified Public Accoun…
W.S. § 26-3-307 Consolidated or combined audits
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Consolidated or combined audits. (a) An insurer may make written application to the commissioner for approval to file audited consolidated or combined financial statements in lieu of separate annual audited financial statements if the insurer is part of a group of insurance compa…
W.S. § 26-3-308 Scope of audit and report of independent certified public accountant
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Scope of audit and report of independent certified public accountant. Financial statements furnished pursuant to W.S. 26-3-304 shall be examined by the independent certified public accountant. The audit of the insurer's financial statements shall be conducted in accordance with g…
W.S. § 26-3-309 Notification of adverse financial condition
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Notification of adverse financial condition. (a) An insurer required to furnish an annual audited financial report shall require the independent certified public accountant to report, in writing, within five (5) business days to the board of directors or its audit committee any d…
W.S. § 26-3-310 Communication of internal control related matters noted in an audit
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Communication of internal control related matters noted in an audit. In addition to the annual audited financial report, each insurer shall furnish the commissioner with a written communication as to any unremediated material weakness, as defined in statement on auditing standard…
W.S. § 26-3-311 Accountant's letter of qualifications
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Accountant's letter of qualifications. (a) An accountant shall furnish the insurer in connection with, and for inclusion in, the filing of the annual audited financial report, a letter stating: (i) That the accountant is independent with respect to the insurer and conforms to the…
W.S. § 26-3-312 Definition, availability and maintenance of independent certified public accountants' workpapers
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Definition, availability and maintenance of independent certified public accountants' workpapers. (a) Workpapers are the records kept by the independent certified public accountant of the procedures followed, the tests performed, the information obtained, and the conclusions reac…