reglab/statecodes huggingface dataset:
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 3 - Authorization of Insurers and General Requirements › Article 1 - In General › Section 26-3-118 - Suspension, Revocation of Certification of Authority; Duration of Suspension; Reinstatement.

26-3-118. 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 suspension period the commissioner may rescind or shorten the suspension by further order.
(b) During the suspension period the insurer shall not solicit or write any new business in this state but shall file its annual statement, pay fees, licenses and taxes as required under this code and may service its business already in force in this state as if the certificate of authority had continued in full force.
(c) Upon expiration of the suspension period, if within that period the certificate of authority has not terminated, the insurer's certificate of authority is automatically reinstated unless the commissioner finds that the causes of the suspension, other than a discontinued violation, have not terminated, or that the insurer is otherwise not in compliance with the requirements of this code, and of which the commissioner shall give the insurer notice not less than thirty (30) days in advance of expiration of the suspension period. If not automatically reinstated, the certificate of authority terminates at the end of the suspension period.
(d) Upon reinstatement of the insurer's certificate of authority, the authority of its agents in this state to represent the insurer also reinstate. The commissioner shall promptly notify the insurer and its agents in this state, of record in the department, of reinstatement. If pursuant to W.S. 26-3-117(c) the commissioner has published notice of suspension of the insurer's certificate of authority, he shall also publish notice of reinstatement.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 3 - Authorization of Insurers and General Requirements › Article 1 - In General › Section 26-3-119 - General Corporation Laws Not Applicable to Authorized Foreign Insurers.

26-3-119. 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.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 3 - Authorization of Insurers and General Requirements › Article 1 - In General › Section 26-3-120 - Property Insurance Under 1 Additional Title Authorized.

26-3-120. Property insurance under 1 additional title authorized.
(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) Upon request the commissioner shall furnish to the insurer the form required for registration, and the insurer shall pay the registration fee specified in W.S. 26-4-101. The registered title shall be shown on the insurer's certificate of authority and shall remain in effect as long as the insurer's certificate of authority is in effect, subject to earlier termination at the insurer's request.
(c) The insurer may separately appoint agents in this state under the registered title in the same manner and on payment of the same fees as apply to appointment and continuation of agents by property insurers in general.
(d) All business transacted by the insurer under the title shall be included in business and transactions of the insurer to be shown by its annual statement and for all purposes under this code.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 3 - Authorization of Insurers and General Requirements › Article 1 - In General › Section 26-3-121 - Service of Process; Commissioner as Agent for Service.

26-3-121. Service of process; commissioner as agent for service.
(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 of legal process issued against the insurer in this state. The appointment shall be made on a form as designated and furnished by the commissioner and shall be accompanied by a copy of a resolution of the insurer's governing body, if an incorporated insurer, showing that the officers who executed the appointment were authorized to do so on the insurer's behalf.
(b) The appointment is irrevocable, binds the insurer and any successor in interest as to the insurer's assets or liabilities and remains in effect as long as there is in force any contract of the insurer in this state or any obligation of the insurer arising out of its transactions in this state.
(c) Service of process against a foreign or alien insurer shall be made only by service thereof upon the commissioner.
(d) At time of application for a certificate of authority the insurer shall file the appointment with the commissioner, together with a designation of the person to whom process against it served upon the commissioner is to be forwarded. The insurer may change that designation by a new filing.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 3 - Authorization of Insurers and General Requirements › Article 1 - In General › Section 26-3-122 - Service of Process; Service Generally.

26-3-122. Service of process; service generally.
(a) Service of process against an insurer for whom the commissioner is attorney shall be made by delivering to and leaving with the commissioner, his deputy or a person in apparent charge of his office during the commissioner's absence, two (2) copies of the process together with a fee as provided in W.S. 26-4-101, taxable as costs in the action.
(b) In case the process is issued by an inferior court, it may be directed to and served in duplicate by an officer authorized to serve process in the city or county of the commissioner's office, at least fifteen (15) days before the return day thereof, and that service confers jurisdiction.
(c) Upon service the commissioner shall immediately mail by registered mail one (1) of the copies of the process to the person currently designated by the insurer to receive the process as provided in W.S. 26-3-121(d).
(d) Service of process is sufficient if:
(i) Notice of that service and a copy of the process are sent within ten (10) days from the date of service by registered mail by plaintiff or his attorney to the defendant insurer at its last known principal place of business in the United States;
(ii) The defendant receives or the post office with which the letter is registered issues a receipt, showing the name of the sender of the letter and the name and address of the person to whom the letter is addressed; and
(iii) The affidavit of the plaintiff or his attorney showing compliance with this section are filed with the clerk of the court in which the action is pending, on or before the date the defendant is required to appear, or within such further time as the court allows.
(e) The commissioner shall keep a record of the day of service upon him of all legal process.
(f) Process served upon the commissioner with a copy forwarded as in this section provided constitutes valid and binding personal service upon the insurer.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 3 - Authorization of Insurers and General Requirements › Article 1 - In General › Section 26-3-123 - Annual and Quarterly Statement; Required; Form; Verification; Failure to File.

26-3-123. 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 statement of its financial condition, transactions and affairs as of December 31 immediately preceding. The statement shall be in the general form and context of, and require information as called for by, the form of annual statement as currently in general and customary use in the United States for the type of insurer and kinds of insurance to be reported upon, with any modification the commissioner requires. The statement shall be verified by the oath of the insurer's president or vice-president and secretary or actuary as applicable, or if a reciprocal insurer by the oath of the attorney-in-fact, or its like officers if a corporation.
(b) Each authorized insurer shall file with the commissioner on a quarterly basis a statement of its financial condition for the preceding quarter. The statement shall be in the form of a quarterly statement as currently in general and customary use in the United States for the type of insurer and kinds of insurance to be reported upon, with any modification the commissioner requires. Each quarterly statement shall be filed with the commissioner on or before forty-five (45) days from the end of the quarter being reported.
(c) The statement of an alien insurer shall be verified by its United States manager or other authorized officer and shall relate only to the insurer's transactions and affairs in the United States unless the commissioner requires otherwise. If the commissioner requires a statement as to an alien insurer's affairs throughout the world, the insurer shall file the statement with the commissioner as soon as reasonably possible.
(d) All annual and quarterly statements filed pursuant to this section shall be completed pursuant to the most recent National Association of Insurance Commissioners' accounting practices and procedures manual and accompanied by an electronic version containing the same information as the statement. The commissioner may specify the format of the electronic version. The commissioner may accept, for any foreign insurer required to file any statement under this section, an electronic filing with the National Association of Insurance Commissioners meeting the requirements of this section as a filing with the commissioner. The commissioner may refuse to continue or may suspend or revoke the certificate of authority of any insurer failing to file its annual or quarterly statement when due.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 3 - Authorization of Insurers and General Requirements › Article 1 - In General › Section 26-3-124 - Annual Statement; Reporting of Claims Against Health Care Providers; Confidentiality; Abstract of Statistics.

26-3-124. 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 state, by March 1 of each year, may be required to file with the commissioner a report of all claims against a health care provider and a report of all awards or settlements given in cases against health care providers. The report shall contain the following information only for the preceding calendar year:
(i) The number and categories of all health care providers the company insures for professional liability;
(ii) The number of claims for which a reserve has been established made against covered health care providers, including those claims in which no suit was filed;
(iii) The awards and settlements on health care professional liability claims, including the costs of defense;
(iv) For each claim:
(A) Specialty coverage of the insured;
(B) Nature and substance of the claim;
(C) Age of the claimant or plaintiff;
(D) After final disposition of the claim, the date and manner of disposition, whether by judgment, settlement, arbitration or otherwise, and an itemization of the amounts paid, if any, if reported separately or can be reasonably segregated or identified for:
(I) Medical and prescription costs;
(II) Economic damages;
(III) Noneconomic damages;
(IV) Defense attorneys fees, costs and expenses.
(E) Any additional information required by the commissioner.
(b) Any information provided the commissioner pursuant to this section shall be confidential including the names of health care providers and any records pertaining thereto. The commissioner shall prepare a summary of such information, in the aggregate if necessary to protect the identity of the health care provider or claimant, for inclusion in his annual report to the governor pursuant to W.S. 9-2-1014.
(c) The commissioner may adopt rules, regulations and reporting forms necessary to carry out the provisions of this section.
(d) The commissioner shall give insurers not less than three (3) months notice if the information in subsection (a) of this section will be required to be reported to the commissioner.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 3 - Authorization of Insurers and General Requirements › Article 1 - In General › Section 26-3-125 - Annual Statement; Mandatory Reporting of Claims Against Governmental Entity.

26-3-125. 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 made against its insureds which have been closed during the immediately preceding calendar year. The report shall contain, but is not limited to, the following information:
(i) The total number of claims filed, broken down by category or type of claim;
(ii) The total amount paid in settlement or discharge of the claims for each type or category of claims;
(iii) The total amount of premiums received from insureds under this act;
(iv) The total number of insureds under this act whose liability insurance the insurer cancelled or refused to renew and the reasons therefor.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 3 - Authorization of Insurers and General Requirements › Article 1 - In General › Section 26-3-126 - Annual Statement; Correction and Publication of Statements.

26-3-126. Annual statement; correction and publication of statements.
(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) After any corrections noted are made, the commissioner shall:
(i) Cause each statement filed to be condensed and summarized showing briefly but intelligibly the capital, assets, liabilities, income, expenditures and business each insurer does within this state;
(ii) Include in the summary his certificate, if true, that to the best of his knowledge and belief the insurer is in all respects in compliance with the insurance laws of this state;
(iii) Cause each summary and certificate to be directly accessible to the public via a link from the main page of the official department website.
(c) Repealed By Laws 2013, Ch. 135, 2.
(d) The commissioner shall cause to be published no less than six (6) times per year and no more than twelve (12) times per year, in newspapers of general circulation within the state that meet the requirements of legal newspapers pursuant to W.S. 18-3-519, a public service announcement pertaining to insurance which shall include a description of how citizens may access information about licensed insurance companies on the official department website. The cost of the publications shall be shared equally among all insurers required to file an annual statement pursuant to W.S. 26-3-123 and each insurer shall pay its share of the cost of publication upon receipt of a statement from the department. The department shall report to the joint corporations, elections and political subdivisions interim committee on or before July 1, 2015 concerning any public response to the public service announcements required by this subsection.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 3 - Authorization of Insurers and General Requirements › Article 1 - In General › Section 26-3-130 - Retaliatory Provisions Against Other States and Countries.

26-3-130. Retaliatory provisions against other states and countries.
(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 aggregate, and the same fines, penalties, deposit requirements or other material requirements, obligations, prohibitions or restrictions as are imposed upon Wyoming insurers, or upon their agents or representatives, by the laws of any other state or any political subdivision thereof, or any country or any province or other political subdivision thereof.
(b) This section does not apply to:
(i) Application fees, examination fees, license fees, appointment fees and continuation fees for agents, adjusters or consultants;
(ii) Personal income taxes, ad valorem taxes on real or personal property nor to special purpose obligations or assessments imposed by another state in connection with particular kinds of insurance other than property insurance, except that the commissioner shall consider deductions, from premium taxes or other taxes otherwise payable, allowed because of real estate or personal property taxes paid in determining the propriety and extent of retaliatory action under this section; or
(iii) Life insurance premium taxes on that portion of a life insurance policy's annual premium exceeding one hundred thousand dollars ($100,000.00).
(c) For the purposes of this section:
(i) The domicile of an alien insurer, other than insurers formed under the laws of Canada, or a province thereof, is that state the insurer designates in writing and files with the commissioner at time of admission to this state and may be that state in which:
(A) The insurer is first authorized to transact insurance;
(B) Is located the insurer's principal place of business in the United States; or
(C) Is held the insurer's largest deposit of trusteed assets for the protection of its policyholders in the United States.
(ii) The domicile of an insurer formed under the laws of Canada or a province thereof is that province in which its head office is located.
(d) If the insurer does not make a designation as provided in subsection (c) of this section, its domicile is that state in which is located its principal place of business in the United States.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 3 - Authorization of Insurers and General Requirements › Article 1 - In General › Section 26-3-131 - Disclosure of Loss Information; Penalties.

26-3-131. 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 request, but in no event more frequently than once in any twelve (12) month period:
(i) Information on claims involving the insured closed within the preceding two (2) years limited to the date and description of occurrence and amount of payments, if any;
(ii) Information on open claims involving the insured limited to the date and description of occurrence, amount of claim and amount of payment, if any;
(iii) Information on notices of occurrence involving the insured limited to the date and description of occurrence and amount of claim; and
(iv) The total amount of reserve on open claims provided no insurer shall be required to provide information on any reserve specifically applicable to or identifying any claim which is or may become subject to proceedings before state or federal courts.
(b) An insurer which elects to cancel or nonrenew any policy of insurance subject to this section, for any reason other than nonpayment of premium, shall cause to be delivered to the insured, at the time such notice of cancellation or nonrenewal is given, a brief statement advising the insured of his right to request the information required to be given under this section.
(c) Any insurer who violates this section is subject to monetary penalties or license revocation or suspension as provided by W.S. 26-1-107 and 26-3-116.
(d) Repealed By Laws 2004, Chapter 57, 3.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 3 - Authorization of Insurers and General Requirements › Article 1 - In General › Section 26-3-133 - Judicial Review.

26-3-133. 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 substantially affected.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 3 - Authorization of Insurers and General Requirements › Article 2 - Insurance Regulatory Information System › Section 26-3-202 - Immunity.

26-3-202. 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, reviewing, analyzing and disseminating the information developed by the National Association of Insurance Commissioners' Insurance Regulatory Information System from annual statements filed with the National Association of Insurance Commissioners convention blanks shall be acting as agents of the commissioner under the authority of this article and in the absence of actual malice shall not be subject to civil liability for libel, slander or any other cause of action by virtue of their collection, review and analysis or dissemination of the data and information collected from the filings.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 3 - Authorization of Insurers and General Requirements › Article 2 - Insurance Regulatory Information System › Section 26-3-203 - Confidentiality.

26-3-203. 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 by the department except as authorized by and in accordance with the provisions of W.S. 26-2-113(d).
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 3 - Authorization of Insurers and General Requirements › Article 2 - Insurance Regulatory Information System › Section 26-3-204 - Filing Requirements; Penalty.

26-3-204. 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 such additional filings prescribed by the commissioner for the preceding year. The information filed with the National Association of Insurance Commissioners shall be in the same format and scope as that required by the commissioner and shall include the signed jurat page and the actuarial certification. Any amendments and addenda to the annual statement filing subsequently filed with the commissioner shall also be filed with the National Association of Insurance Commissioners. Each insurer shall concurrently provide the National Association of Insurance Commissioners with a copy of the electronic filing containing its annual statement as required by W.S. 26-3-123.
(b) Foreign insurers that are domiciled in a state which has a law substantially similar to subsection (a) of this section shall be deemed in compliance with this section.
(c) Each domestic, foreign or alien insurer authorized to transact insurance in this state shall quarterly on or before forty-five (45) days after the end of the quarter being reported, file with the National Association of Insurance Commissioners a copy of its quarterly statement blank. The information filed with the National Association of Insurance Commissioners shall be in the same format and scope as that required by the commissioner and shall include the signed jurat page. Any amendments and addenda to the quarterly statement filing subsequently filed with the commissioner shall also be filed with the National Association of Insurance Commissioners. Each insurer shall concurrently provide the National Association of Insurance Commissioners with a copy of the electronic filing containing its quarterly statement as required by W.S. 26-3-123.
(d) The commissioner may impose a civil penalty pursuant to W.S. 26-1-107 and may suspend, revoke or refuse to renew the certificate of authority of any insurer failing to file its quarterly or annual statement when due or within any extension of time which the commissioner, for good cause, may have granted.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 3 - Authorization of Insurers and General Requirements › Article 3 - Annual Audited Financial Reports Law › Section 26-3-301 - Scope of Article.

26-3-301. 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 or certificate holders of direct written policies nationwide at the end of a calendar year shall be exempt from this article for that year except an insurer shall not be exempt if:
(i) The commissioner makes a specific finding that compliance is necessary for the commissioner to carry out statutory responsibilities; or
(ii) The insurer has assumed premiums pursuant to contracts or treaties of reinsurance of one million dollars ($1,000,000.00) or more.
(b) Foreign or alien insurers filing the audited financial report in another state, pursuant to that state's requirement for filing of audited financial reports which has been found by the commissioner to be substantially similar to the requirements of this article, are exempt from W.S. 26-3-303 through 26-3-312 if:
(i) A copy of the audited financial report, communication of internal control related matters noted in an audit and the accountant's letter of qualifications which are filed with the other state are filed with the commissioner and a copy of the audited financial report which is on file with the other state is filed with the National Association of Insurance Commissioners in accordance with the filing dates specified in W.S. 26-3-303, 26-3-310 and 26-3-311, respectively. Canadian insurers may submit accountants' reports as filed with the office of the superintendent of financial institutions, Canada; and
(ii) A copy of any notification of adverse financial condition report filed with the other state is filed with the commissioner within the time specified in W.S. 26-3-309.
(c) This article shall not prohibit, preclude or in any way limit the commissioner from ordering or conducting or performing examinations of insurers under this code or regulations and the practices and procedures of the department.
(d) Foreign or alien insurers required to file management's report of internal control over financial reporting in another state are exempt from filing the report in this state provided the other state has substantially similar reporting requirements and the report is filed with the commissioner of the other state within the time specified.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 3 - Authorization of Insurers and General Requirements › Article 3 - Annual Audited Financial Reports Law › Section 26-3-303 - General Requirements Related to Filing and Extensions for Filing of Annual Audited Financial Reports; Audit Committee Appointment.

26-3-303. 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 commissioner on or before June 1 for the immediately preceding calendar year. The commissioner may require an insurer to file an audited financial report earlier than June 1 with ninety (90) days advance notice to the insurer.
(b) Extensions of the June 1 filing date may be granted by the commissioner for thirty (30) day periods upon a showing by the insurer and its independent certified public accountant of the reasons for requesting the extension and a determination by the commissioner there is good cause for an extension. The request for extension shall be submitted in writing not less than ten (10) days prior to the due date in sufficient detail to permit the commissioner to make an informed decision with respect to the requested extension.
(c) If an extension is granted in accordance with subsection (b) of this section, a similar extension of thirty (30) days is granted to the filing of the management's report of internal control over financial reporting.
(d) Every insurer required to file an annual audited financial report pursuant to this section shall designate a group of individuals as constituting its audit committee. The audit committee of an entity that controls an insurer may be deemed to be the insurer's audit committee for purposes of this article at the election of the controlling person.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 3 - Authorization of Insurers and General Requirements › Article 3 - Annual Audited Financial Reports Law › Section 26-3-304 - Contents of Annual Audited Financial Report.

26-3-304. 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 conformity with statutory accounting practices prescribed or permitted by the department of insurance of the state of domicile.
(b) The annual audited financial report shall include the following:
(i) Report of an independent certified public accountant;
(ii) Balance sheet reporting admitted assets, liabilities, capital and surplus;
(iii) Statement of operations;
(iv) Statement of cash flows;
(v) Statement of changes in capital and surplus;
(vi) Notes to financial statements. The notes shall be those required by the appropriate National Association of Insurance Commissioners' annual statement instructions and the most recent National Association of Insurance Commissioners' accounting practices and procedures manual. The notes shall include:
(A) A reconciliation of differences, if any, between the audited statutory financial statements and the annual statement filed pursuant to W.S. 26-3-123 with a written description of the nature of these differences;
(B) Repealed By Laws 2001, Ch. 9, 2.
(vii) The financial statements included in the audited financial report shall be prepared in a form and using language and groupings substantially the same as the relevant sections of the annual statement of the insurer filed with the commissioner. The financial statement shall be comparative, presenting the amounts as of December 31 of the current year and the amounts as of the immediately preceding December 31.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 3 - Authorization of Insurers and General Requirements › Article 3 - Annual Audited Financial Reports Law › Section 26-3-305 - Designation of Independent Certified Public Accountant.

26-3-305. Designation of independent certified public accountant.
(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 the independent certified public accountant or accounting firm retained to conduct the annual audit. Insurers not retaining an independent certified public accountant on or before April 1, 1994 shall register the name and address of their retained independent certified public accountant not less than six (6) months before the date when the first audited financial report is to be filed.
(b) The insurer shall obtain a letter from the accountant, and file a copy with the commissioner stating that the accountant is aware of the provisions of the insurance code and the rules and regulations of the insurance department of the state of domicile that relate to accounting and financial matters and affirming that he will express his opinion on the financial statements in terms of their conformity to the statutory accounting practices prescribed or otherwise permitted by that department, specifying the exceptions he believes appropriate.
(c) If an accountant who was the accountant for the immediately preceding filed audited financial report is dismissed or resigns, the insurer shall within five (5) business days notify the department of this event. The insurer shall also furnish the commissioner with a separate letter within ten (10) business days of the above notification stating whether in the twenty-four (24) months preceding the dismissal or resignation there were any disagreements with the former accountant on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure which, if not resolved to the satisfaction of the former accountant would have caused him to make reference to the subject matter of the disagreement in connection with his opinion. The disagreements required to be reported under this subsection include both those resolved to the former accountant's satisfaction and those not resolved to the former accountant's satisfaction. Disagreements required to be reported under this subsection are those which occur at the decision-making level, between personnel of the insurer responsible for presentation of its financial statements and personnel of the accounting firm responsible for rendering its report. The insurer shall also in writing request and the former accountant shall furnish a letter addressed to the department with a copy to the insurer stating whether the accountant agrees with the statements contained in the insurer's letter and, if not, stating the reasons for which he does not agree.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 3 - Authorization of Insurers and General Requirements › Article 3 - Annual Audited Financial Reports Law › Section 26-3-307 - Consolidated or Combined Audits.

26-3-307. 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 companies which utilizes a pooling or one hundred percent (100%) reinsurance agreement that affects the solvency and integrity of the insurer's reserves and the insurer cedes all of its direct and assumed business to the pool. In those cases, a columnar consolidating or combining supplemental schedules shall be filed with the report, as follows:
(i) Amounts shown on the consolidated or combined audited financial report shall be shown on the supplemental schedules;
(ii) Amounts for each insurer subject to this section shall be stated separately;
(iii) Noninsurance operations may be shown on the supplemental schedules on a combined or individual basis;
(iv) Explanations of consolidating and eliminating entries shall be included;
(v) A reconciliation shall be included of any differences between the amounts shown in the individual insurer columns of the supplemental schedules and comparable amounts shown on the annual statements of the insurers.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 3 - Authorization of Insurers and General Requirements › Article 3 - Annual Audited Financial Reports Law › Section 26-3-308 - Scope of Audit and Report of Independent Certified Public Accountant.

26-3-308. 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 generally accepted auditing standards. In accordance with Accumulation of Audit Standards (AU) Section 319 of the professional standards of the American Institute of Certified Public Accountants, Consideration of Internal Control in a Financial Statement Audit, the independent certified public accountant shall obtain an understanding of internal control sufficient to plan the audit. To the extent required by AU 319, for those insurers required to file a management's report of internal control over financial reporting pursuant to W.S. 26-3-318, the independent certified public accountant shall consider the most recently available report in planning and performing the audit of the statutory financial statements. Consideration shall be given to the procedures illustrated in the financial condition examiner's handbook promulgated by the National Association of Insurance Commissioners as the independent certified public accountant deems necessary.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 3 - Authorization of Insurers and General Requirements › Article 3 - Annual Audited Financial Reports Law › Section 26-3-309 - Notification of Adverse Financial Condition.

26-3-309. 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 determination supported by adequate research conducted by the independent certified public accountant:
(i) That the insurer has materially misstated its financial condition reported to the commissioner as of the balance sheet date currently under audit; or
(ii) That the insurer does not meet the minimum capital and surplus requirement of this code as of that date.
(b) An insurer which has received a report pursuant to subsection (a) of this section shall forward a copy of the report to the commissioner within five (5) business days of receipt of the report and shall provide the independent certified public accountant making the report with evidence of the report being furnished to the commissioner.
(c) Upon receiving the report from the insurer the commissioner shall notify the independent certified public accountant of his receipt of the report. The independent certified public accountant shall furnish the commissioner with a copy of the report within five (5) business days after the insurer is required to forward the report to the commissioner, unless the commissioner has previously acknowledged receipt of the report from the insurer.
(d) Except for any act constituting negligence or malpractice in the preparation of the annual audited financial report specified in W.S. 26-3-304, no independent certified public accountant shall be liable in any manner to any person for any statement made in connection with subsection (a) of this section if the statement is made in good faith in compliance with subsection (a) of this section.
(e) If the accountant, subsequent to the date of the audited financial report filed pursuant to this article, becomes aware of facts which might have affected his report, the accountant shall take the action prescribed in Volume 1, Section AU 561 of the Professional Standards of the American Institute of Certified Public Accountants, and other action as prescribed by the commissioner by rule.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 3 - Authorization of Insurers and General Requirements › Article 3 - Annual Audited Financial Reports Law › Section 26-3-310 - Communication of Internal Control Related Matters Noted in an Audit.

26-3-310. 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 60 or its replacement, in its internal control over financial reporting noted by the accountant during the audit. Such communication shall be prepared by the accountant within sixty (60) days after the filing of the annual audited financial report and shall contain a description of any unremediated material weakness as of December 31 immediately preceding in the insurer's internal control over financial reporting noted by the accountant during the course of the audit of the financial statements. If no unremediated material weaknesses were noted, the communication shall so state. The insurer shall provide a description of remedial actions taken or proposed to correct unremediated material weaknesses, if the actions are not described in the accountant's communication.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 3 - Authorization of Insurers and General Requirements › Article 3 - Annual Audited Financial Reports Law › Section 26-3-311 - Accountant's Letter of Qualifications.

26-3-311. 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 standards of his profession as contained in the code of professional ethics and pronouncements of the American Institute of Certified Public Accountants and the rules of professional conduct of the Wyoming board of certified public accountants, or similar code;
(ii) The background and experience in general, and the experience in audits of insurers of the staff assigned to the engagement and whether each is an independent certified public accountant. Nothing within this article shall be construed as prohibiting the accountant from utilizing staff as he deems appropriate where use is consistent with the standards prescribed by generally accepted auditing standards;
(iii) That the accountant understands the annual audited financial report and his opinion on the report will be filed in compliance with this article, and that the commissioner will be relying on this information in the monitoring and regulation of the financial position of insurers;
(iv) That the accountant consents to the requirements of W.S. 26-3-312, and that the accountant consents and agrees to make available for review by the commissioner, his designee or his appointed agent, the workpapers, as defined in W.S. 26-3-312;
(v) A representation that the accountant is properly licensed by an appropriate state licensing authority and is a member in good standing in the American Institute of Certified Public Accountants;
(vi) A representation that the accountant is in compliance with the requirements of W.S. 26-3-306.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 3 - Authorization of Insurers and General Requirements › Article 3 - Annual Audited Financial Reports Law › Section 26-3-312 - Definition, Availability and Maintenance of Independent Certified Public Accountants' Workpapers.

26-3-312. 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 reached pertinent to his audit of the financial statements of an insurer. Workpapers may include audit planning documentation, work programs, analyses, memoranda, letters of confirmation and representation, abstracts of company documents and schedules or commentaries prepared or obtained by the independent certified public accountant in the course of his audit of the financial statements of an insurer and which support his opinion of those financial statements.
(b) Every insurer required to file an audited financial report pursuant to this article shall require the accountant to make available for review by department examiners, all workpapers prepared in the conduct of his audit and any communications related to the audit between the accountant and the insurer, at the offices of the insurer, the department or at any other reasonable place designated by the commissioner. The insurer shall require that the accountant retain the audit workpapers and communications until the department has filed a report on examination covering the period of the audit but no longer than seven (7) years from the date of the audit report.
(c) In the conduct of the periodic review by the department examiners under this section, it shall be agreed that photocopies of pertinent audit workpapers may be made and retained by the department. Such reviews by the department examiners shall be considered investigations and all workpapers and communications obtained during the course of the investigations shall be afforded the same confidentiality as other examination workpapers generated by the department.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 3 - Authorization of Insurers and General Requirements › Article 3 - Annual Audited Financial Reports Law › Section 26-3-313 - Exemptions and Effective Dates.

26-3-313. Exemptions and effective dates.
(a) Upon written application of any insurer, the commissioner may grant an exemption from compliance with any or all provisions of this article if the commissioner finds, upon review of the application, that compliance with this article would constitute a financial or organizational hardship upon the insurer. Exemptions may be granted at any time for a specified period. Within ten (10) days from a denial of an insurer's written request for an exemption from this article, the insurer may request in writing a hearing on its application for an exemption. The hearing shall be held in accordance with the rules and regulations of the department pertaining to administrative hearing procedures.
(b) Repealed by Laws 2009, Ch. 94, 3.
(c) Repealed by Laws 2009, Ch. 94, 3.
(d) The requirements of W.S. 26-3-316 are effective January 1, 2019. If an insurer or group of insurers who are exempt from the requirements of W.S. 26-3-316 no longer qualify for the exemption, the insurer or group of insurers shall have one (1) year after the year the threshold is exceeded in which to comply with the requirements of this article.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 3 - Authorization of Insurers and General Requirements › Article 3 - Annual Audited Financial Reports Law › Section 26-3-314 - Canadian and British Companies.

26-3-314. Canadian and British companies.
In the case of Canadian and British insurers, the annual audited financial report shall be defined as the annual statement of total business on the form filed by such companies with their supervision authority duly audited by an independent chartered accountant. For Canadian and British insurers, the letter required in W.S. 26-3-305(b) shall state that the accountant is aware of the requirements relating to the annual audited financial report filed with the commissioner pursuant to W.S. 26-3-303 and shall affirm that the opinion expressed is in conformity with those requirements.