reglab/statecodes huggingface dataset:
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 12 - Unauthorized Insurers - Prohibitions, Process › Article 3 - Unauthorized Insurers False Advertising Process Act › Section 26-12-303 - Enforcement by Commissioner; Penalty for Violation.

26-12-303. Enforcement by commissioner; penalty for violation.
(a) If within thirty (30) days following the giving of the notice specified in W.S. 26-12-302 the insurer has not ceased dissemination of any false advertising, and if the commissioner believes that the insurer is soliciting, issuing or delivering contracts of insurance to residents of this state or collecting premiums on those contracts or performing any other transaction in connection with that insurance, and that a proceeding by him in respect to those matters would be in the public interest, he shall take action against the insurer under W.S. 26-13-117.
(b) If pursuant to the proceeding the commissioner finds that the dissemination of false advertising is continuing, he shall order the insurer to desist therefrom and shall mail a copy of the order by certified or registered mail to the insurer at its principal place of business last of record with the commissioner and to the insurance supervisory official of the insurer's domiciliary state or province. Each violation after mailing of the desist order subjects the insurer to a penalty of two thousand dollars ($2,000.00), to be recovered by a civil action the commissioner brings against the insurer. Service of process upon the insurer in the action may be made upon the commissioner pursuant to W.S. 26-12-202 and 26-12-203 or in any other lawful manner.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 13 - Trade Practices and Frauds › Article 1 - Unfair Trade Practices Act › Section 26-13-102 - Unfair Methods and Deceptive Acts Prohibited.

26-13-102. Unfair methods and deceptive acts prohibited.
No person shall engage in this state in any trade practice which is defined in this article as or is determined pursuant to this article to be an unfair method of competition or an unfair or deceptive act or practice in the business of insurance.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 13 - Trade Practices and Frauds › Article 1 - Unfair Trade Practices Act › Section 26-13-103 - Misrepresentations and False Advertising Prohibited.

26-13-103. Misrepresentations and false advertising prohibited.
(a) No person shall:
(i) Make, issue, circulate, or cause to be made, issued or circulated, any estimate, circular or statement misrepresenting the terms of any policy issued or to be issued or the benefits or advantages promised thereby or the dividends or share of the surplus to be received thereon;
(ii) Make any false or misleading statement as to the dividends or share of surplus previously paid on similar policies;
(iii) Make any misleading representation or any misrepresentation as to the financial condition of any insurer or as to the legal reserve system upon which any life insurer operates; or
(iv) Use any name or title of any policy or class of policies misrepresenting the true nature thereof.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 13 - Trade Practices and Frauds › Article 1 - Unfair Trade Practices Act › Section 26-13-104 - Home Office False Advertising Prohibited.

26-13-104. Home office false advertising prohibited.
No person shall make in any manner in any advertising or other communication medium any advertisement, announcement or statement containing any assertion, representation or statement with respect to the business of insurance or with respect to any person in the conduct of his insurance business, which is untrue, deceptive or misleading.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 13 - Trade Practices and Frauds › Article 1 - Unfair Trade Practices Act › Section 26-13-105 - "Twisting" Prohibited.

26-13-105. "Twisting" prohibited.
No person shall make or issue, nor cause to be made or issued, any written or oral statement misrepresenting or making incomplete comparisons as to the terms, conditions or benefits contained in any policy for the purpose of inducing or attempting to induce the policyholder to lapse, forfeit, surrender, retain, exchange or convert any insurance policy.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 13 - Trade Practices and Frauds › Article 1 - Unfair Trade Practices Act › Section 26-13-106 - False or Misleading Financial Statements Prohibited.

26-13-106. False or misleading financial statements prohibited.
(a) No person shall:
(i) File with any supervisory or other public official or in any manner place or cause to be placed before any other person, any false statement of financial condition of an insurer with intent to deceive;
(ii) Make any false entry in any book, report or statement of any insurer with intent to deceive:
(A) Any agent or examiner lawfully appointed to examine into its condition or into any of its affairs; or
(B) Any public official to whom the insurer is required by law to report, or who has authority by law to examine into its condition or into any of its affairs.
(iii) With intent to deceive, willfully omit a true entry of any material fact pertaining to the insurer's business in any book, report or statement of the insurer; or
(iv) Advertise the capital or assets of an insurer without in the same advertisement setting forth the amount of the insurer's liabilities in equal prominence to the statement of capital and assets.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 13 - Trade Practices and Frauds › Article 1 - Unfair Trade Practices Act › Section 26-13-107 - Defamation Prohibited.

26-13-107. Defamation prohibited.
No person shall make or aid, abet or encourage the making in any manner in any communication medium of any oral or written statement which is false or maliciously critical of or derogatory to an insurer's financial condition, or of an organization proposing to become an insurer, and which is made to injure any person engaged or proposing to engage in the insurance business.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 13 - Trade Practices and Frauds › Article 1 - Unfair Trade Practices Act › Section 26-13-108 - Boycott, Coercion and Intimidation Prohibited; Exception.

26-13-108. Boycott, coercion and intimidation prohibited; exception.
No person shall enter into any agreement to commit, or by any concerted action commit, any act of boycott, coercion or intimidation resulting in unreasonable restraint of or any monopoly in any business of insurance, except that an insurer owned or controlled by an association or organization may refuse to renew a casualty or liability policy because of nonpayment of dues to the association or organization if payment of dues is a prerequisite to obtaining or continuing the insurance.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 13 - Trade Practices and Frauds › Article 1 - Unfair Trade Practices Act › Section 26-13-109 - Unfair Discrimination Prohibited.

26-13-109. Unfair discrimination prohibited.
(a) No person shall make or permit any unfair discrimination between current or prospective insureds or insured risks:
(i) Repealed by Laws 2023, ch. 32, 2.
(ii) Of the same class, having similar insuring or risk characteristics and of essentially the same hazard in:
(A) The amount of premium, policy fees or rates charged for any policy or contract of insurance;
(B) The dividends or benefits payable thereunder;
(C) Any of the terms or conditions of the contract; or
(D) Any other manner.
(b) Repealed by Laws 2023, ch. 32, 2.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 13 - Trade Practices and Frauds › Article 1 - Unfair Trade Practices Act › Section 26-13-113 - Deductible Amount of Collision Coverage; Subrogation; Right to Deductible.

26-13-113. Deductible amount of collision coverage; subrogation; right to deductible.
(a) If an insurer pays a loss claim to its insured and the insurer decides to subrogate to the insured's loss claim, the deductible amount shall be included in the subrogated loss claim and the insurance carrier shall pay the deductible amount to its insured, without any deduction for expenses of collection, out of any recovery on the subrogated claim, before any part of the recovery is applied to any other use. If the amount of the deductible exceeds the recovery, the insurer shall pay only the amount of the recovery to the insured.
(b) If in any arbitration of the subrogated claim two (2) or more insurers agree to offset the claims of their insureds, the right of any insured to the return of his full deductible amount shall not be abridged.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 13 - Trade Practices and Frauds › Article 1 - Unfair Trade Practices Act › Section 26-13-114 - Securities Operations and Advisory Board Contracts as Insurance Inducement Prohibited.

26-13-114. Securities operations and advisory board contracts as insurance inducement prohibited.
No insurer or other person shall offer, issue or deliver or permit its agents, officers or employees to offer, issue or deliver, in this or any other state, agency company stock or other capital stock, benefit certificates, shares in any common-law corporation or any advisory board contract promising returns and profits as an inducement to insurance.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 13 - Trade Practices and Frauds › Article 1 - Unfair Trade Practices Act › Section 26-13-115 - Desist Orders by Commissioner; Appeal; Violation of Order.

26-13-115. Desist orders by commissioner; appeal; violation of order.
(a) If the commissioner finds that any person in this state, after a hearing in which the person is notified of the hearing and the charges against him, has engaged or is engaging in any act or practice defined in or prohibited under this chapter, the commissioner shall order the person to desist from the acts or practices.
(b) The desist order is final upon expiration of the time allowed for appeals from the commissioner's orders, if no appeal is taken, or, if there is an appeal, upon final decision of the court if the court affirms the commissioner's order or dismisses the appeal. An intervenor in the hearing may appeal as provided in W.S. 26-2-129.
(c) If there is an appeal, to the extent that the commissioner's order is affirmed, the court shall issue its own order commanding obedience to the terms of the commissioner's order.
(d) No order of the commissioner pursuant to this section or order of the court to enforce it in any way relieves or absolves any person affected by the order from any other liability, penalty or forfeiture under law.
(e) Violation of any desist order is punishable as a violation of this code.
(f) This section does not affect or prevent the imposition of any penalty provided by this code or by other law for violation of any other provision of this chapter, whether or not any hearing is called or held or any desist order issued.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 13 - Trade Practices and Frauds › Article 1 - Unfair Trade Practices Act › Section 26-13-116 - Procedures for Undefined Deceptive Practices.

26-13-116. Procedures for undefined deceptive practices.
(a) If the commissioner believes that any person in conducting an insurance business in this state is engaging in any method of competition or in any act or practice, not defined in this chapter, which is unfair or deceptive and that a proceeding by him in respect thereto would be in the public interest, after a hearing in which the person charged receives a notice of the hearing and of the charges against him, the commissioner shall make a written report of his findings of fact relative to the charges and serve a copy thereof upon the person and any intervenor at the hearing.
(b) If the commissioner's report charges a violation of this chapter and if the method of competition, act or practice is not discontinued, the commissioner, through the attorney general, at any time after service of the report, may cause an action to be instituted to enjoin and restrain the person from engaging in the method, act or practice. In the action the court may grant a restraining order or injunction upon any just terms, but the people of this state are not required to give security before the issuance of the order or injunction. If a stenographic record of the proceedings in the hearing before the commissioner is made, a certified transcript thereof including all evidence taken and the report and findings shall be received in evidence in the action.
(c) If the commissioner's report made under subsection (a) of this section or order on hearing made under W.S. 26-2-128 does not charge a violation of this chapter, then any intervenor in the proceedings may appeal within the time and in the manner provided in W.S. 26-2-129(b).
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 13 - Trade Practices and Frauds › Article 1 - Unfair Trade Practices Act › Section 26-13-117 - Service of Process Upon Unauthorized Insurers.

26-13-117. Service of process upon unauthorized insurers.
(a) Service of all process, statements of charges and notices under this chapter upon unauthorized insurers shall be made in accordance with W.S. 26-3-122.
(b) The commissioner shall forward all process, statements of charges and notices to the insurer in the manner provided in W.S. 26-3-122.
(c) No default shall be taken against any unauthorized insurer until expiration of thirty (30) days after the date of forwarding by the commissioner under subsection (b) of this section, or date of service of process if under W.S. 26-12-203(b).
(d) W.S. 26-12-203(d) applies to all process, statements of charges and notices under this section.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 13 - Trade Practices and Frauds › Article 1 - Unfair Trade Practices Act › Section 26-13-118 - Favored Agent or Insurer.

26-13-118. Favored agent or insurer.
(a) No person shall require as a condition to loaning money upon the security of any real or personal property, or to the selling of that property under contract, that the owner of the property to whom the money is to be loaned or the vendee of the property being sold, shall place, continue or renew any policy of insurance covering the property, or covering any liability related to the property or the use thereof, through a particular insurance agent or broker or in a particular insurer. This does not prevent the lender or vendor, upon a reasonable basis, from approving or disapproving of the insurer and representative selected to underwrite the insurance, but the basis for approval or disapproval shall relate only to:
(i) The adequacy and terms of the coverage with respect to the interest of the vendor or lender to be insured thereunder;
(ii) The financial standards to be met by the insurer; and
(iii) The ability of the insurer or representative to service the policy.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 13 - Trade Practices and Frauds › Article 1 - Unfair Trade Practices Act › Section 26-13-119 - Interlocking Ownership and Management.

26-13-119. Interlocking ownership and management.
(a) Any insurer may retain, invest in or acquire the whole or any part of the capital stock of any other insurer, or have a common management with any other insurer, unless the retention, investment, acquisition or common management is inconsistent with any other provision of this code, or unless by reason thereof the insurers' business with the public is conducted in a manner which substantially lessens competition generally in the insurance business or tends to create any monopoly therein.
(b) Any person otherwise qualified may be a director of two (2) or more insurers which are competitors, unless the effect thereof is to lessen substantially competition between insurers or tends materially to create a monopoly.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 13 - Trade Practices and Frauds › Article 1 - Unfair Trade Practices Act › Section 26-13-120 - Political Contributions Prohibited; Penalty.

26-13-120. Political contributions prohibited; penalty.
(a) No insurer shall in any manner pay or use, or offer, consent or agree to pay or use, any money or property:
(i) For or in aid of any:
(A) Political party, committee or organization;
(B) Corporation or other body organized or maintained for political purposes;
(C) Candidate for political office;
(D) Nomination for office; or
(E) Other political purpose; or
(ii) For the reimbursement or indemnification of any person for money or property so used.
(b) Any officer, director, stockholder, attorney or agent of any insurer which violates this section, who participates in, aids, abets, advises or consents to any such violation, and any person who solicits or knowingly receives any money or property in violation of this section, is guilty of a misdemeanor and shall be punished by imprisonment for not more than one (1) year and a fine of not more than one thousand dollars ($1,000.00). Any officer or director abetting in any contribution made in violation of this section is liable to the insurer for the amount so contributed.
(c) This section does not prohibit an insurer from otherwise lawful expenditures for presentation of information to legislators relative to proposed legislation affecting the insurer.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 13 - Trade Practices and Frauds › Article 1 - Unfair Trade Practices Act › Section 26-13-121 - Illegal Dealing in Premiums; Excess Charges for Insurance.

26-13-121. Illegal dealing in premiums; excess charges for insurance.
(a) No person shall willfully collect any sum as premium or charge for insurance:
(i) If the insurance is not then provided or is not in due course to be provided, subject to the insurer's acceptance of the risk, by an insurance policy issued by the insurer as authorized by this code;
(ii) In excess of the premium or charge applicable to the insurance, and as specified in the policy, in accordance with the applicable classifications and rates as filed with and approved by the commissioner; or
(iii) In cases where classifications, premiums or rates are not required by this code to be filed and approved, in excess of those specified in the policy and as fixed by the insurer.
(b) Subsection (a) of this section does not prohibit the charging and collection by surplus lines brokers licensed under chapter 11 of this code of the amount of applicable state and federal taxes, examination fee and nominal service charge to cover communication expenses, in addition to the premium required by the insurer. Nor does it prohibit the charging and collection by a life insurer of amounts actually to be expended for medical examination of an applicant for life insurance or for reinstatement of a life insurance policy.
(c) Each violation of this section is punishable under W.S. 26-1-107.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 13 - Trade Practices and Frauds › Article 1 - Unfair Trade Practices Act › Section 26-13-122 - Fictitious Groups Prohibited.

26-13-122. Fictitious groups prohibited.
(a) No authorized or unauthorized insurer shall make available, through any rating plan or form, property, casualty or surety insurance to any firm, corporation or association of individuals at any preferred rate or premium based upon any fictitious grouping of the firm, corporation or association.
(b) No form or plan of insurance covering any group or combination of persons or risks shall be written or delivered within or outside this state to cover persons or risks in this state at any preferred rate or on any form other than as offered to persons not in the group or combination and to the public generally, unless the form, plan of insurance and the rates or premiums to be charged therefor have been submitted to and approved by the commissioner as being not unfairly discriminatory, and as not otherwise being in conflict with subsection (a) of this section or with chapter 14 of this code to the extent that chapter 14 is applicable thereto.
(c) This section does not apply to life insurance, disability insurance or annuity contracts.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 13 - Trade Practices and Frauds › Article 2 - False Applications, Claims and Proof of Loss › Section 26-13-201 - False Applications, Claims and Proofs of Loss Prohibited.

26-13-201. False applications, claims and proofs of loss prohibited.
(a) No person shall knowingly or willfully:
(i) Make any false or fraudulent statement or representation in or with reference to any application for insurance or for the purpose of obtaining any money or benefit;
(ii) Present or cause to be presented a false or fraudulent claim or any proof in support of a claim for the payment of the loss upon a contract of insurance;
(iii) Prepare, make or subscribe a false or fraudulent certificate, or other document with intent that the certificate or other document may be presented or used in support of the claim.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 13 - Trade Practices and Frauds › Article 2 - False Applications, Claims and Proof of Loss › Section 26-13-202 - Penalties.

26-13-202. Penalties.
Any person who violates this article 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.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 13 - Trade Practices and Frauds › Article 3 - Discretionary Clause Prohibition Act › Section 26-13-302 - Purpose and Intent.

26-13-302. Purpose and intent.
The purpose of this act is to assure that health insurance benefits not subject to the federal Employee Retirement Income Security Act are contractually guaranteed, and to avoid the conflict of interest that occurs when the carrier responsible for providing benefits has discretionary authority to decide what benefits are due. This act is also intended to assure that health insurance benefits contracts subject to the federal Employee Retirement Income Security Act which contain a discretionary clause provide appropriate disclosure of the clause and additional provisions to assure a fair determination of contract benefits. Nothing in this act shall be construed as imposing any requirement or duty on any person other than a health carrier.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 13 - Trade Practices and Frauds › Article 3 - Discretionary Clause Prohibition Act › Section 26-13-303 - Definitions.

26-13-303. Definitions.
(a) 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 an entity subject to the insurance laws and regulations of this state, or subject to the jurisdiction of the commissioner, that contracts or offers to contract to provide, deliver, arrange for, pay for or reimburse any of the costs of health care services, including a sickness and accident insurance company, a health maintenance organization, a nonprofit hospital and health service corporation, or any other entity providing a plan of health insurance, health benefits or health services;
(iv) "Person" means as defined in W.S. 8-1-102(a)(vi);
(v) "This act" means W.S. 26-13-301 through 26-13-305.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 13 - Trade Practices and Frauds › Article 3 - Discretionary Clause Prohibition Act › Section 26-13-304 - Discretionary Clause Prohibited.

26-13-304. 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 discretion to the health carrier to interpret the terms of the contract, or to provide standards of interpretation or review that are inconsistent with the laws of this state. This subsection shall not apply to a policy, contract, certificate or agreement subject to and meeting the requirements of subsections (b) and (c) of this section.
(b) Any group policy, contract, certificate or agreement subject to the federal Employee Retirement Income Security Act and 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 and which contains a provision purporting to reserve discretion to the health carrier to interpret the terms of the contract or to provide standards of interpretation or review shall contain the following language highlighted in bold in not less than twelve (12) point type:
This benefit plan contains a discretionary clause. Determinations made by (insurer name) pursuant to the discretionary clause do not prohibit or prevent a claimant from seeking judicial review in court of (insurer name's) decisions. By including this discretionary clause (insurer's name) agrees to allow a court to review its determinations anew when a claimant seeks judicial review of (insurer name's) determinations of eligibility of benefits, the payment of benefits or interpretations of the terms and conditions applicable to the benefit plan.
(c) Any group policy, contract, certificate or agreement containing a discretionary clause as authorized in subsection (b) of this section shall contain a provision entitling any person denied benefits in whole or in part to have the determination reviewed de novo in any court with jurisdiction.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 13 - Trade Practices and Frauds › Article 3 - Discretionary Clause Prohibition Act › Section 26-13-305 - Penalties.

26-13-305. 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.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 14 - Rates and Rating Organizations › Section 26-14-101 - Purpose of Chapter; Liberal Interpretation.

26-14-101. 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 intended to prohibit unlawful price fixing agreements by or among insurers and to authorize essential cooperative activities among insurers in the rate making process and to regulate these activities to prohibit practices that tend to substantially lessen competition or create monopolies. This chapter shall be liberally interpreted to carry into effect the provisions of this section.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 14 - Rates and Rating Organizations › Section 26-14-102 - Scope and Applicability of Chapter; Liberal Interpretation.

26-14-102. Scope and applicability of chapter; liberal interpretation.
(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) Reinsurance;
(iv) Insurance against loss of or damage to aircraft, their hulls, accessories and equipment, or against liability arising out of the ownership, maintenance or use of aircraft;
(v) Insurance of vessels or craft, their cargoes, marine builders' risks, marine protection and indemnity, or other risks commonly insured under marine, as distinguished from inland marine, insurance policies;
(vi) Title insurance;
(vii) Annuities;
(viii) Worker's compensation insurance as provided under title 27, chapter 14 of the Wyoming statutes.
(b) No insurer shall be required to file any rates with the commissioner other than those for insurance not subject to this act or defined as noncompetitive in this act, after the passage of this act.
(c) This chapter shall be liberally interpreted to carry out the purpose specified in W.S. 26-14-101.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 14 - Rates and Rating Organizations › Section 26-14-105 - Rating Standards; Methods.

26-14-105. 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 in a noncompetitive market are excessive, inadequate or unfairly discriminatory, consideration may be given to the following elements:
(i) Basic Rate Factors.-Consideration may be given to past and prospective loss and expense experience within and outside of this state, to catastrophe hazards and contingencies, to events or trends within and outside of this state, to dividends or savings to policyholders, members or subscribers and to all other factors and judgments deemed relevant by the insurer;
(ii) Classification.-Rates may be modified for individual risks in accordance with rating plans or schedules which establish standards for measuring probable variations in hazards or expenses, or both;
(iii) Expenses.-The expense provisions shall reflect the operating methods of the insurer and, so far as credible, its own actual and anticipated expense experience; and
(iv) Contingencies and Profits.-The rates may contain a provision for contingencies and a provision for a reasonable underwriting profit, and shall reflect investment income directly attributable to unearned premium and loss reserves.
(c) Repealed by Laws 2021, ch. 138, 1.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 14 - Rates and Rating Organizations › Section 26-14-107 - Filing of Rates; Supplementary Rate Information; Supporting Information; Public Inspection; Consent to Rates.

26-14-107. 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. 26-14-113(b), and such information shall be made available to the commissioner upon his request.
(b) In noncompetitive markets, every insurer shall file with the commissioner all rates, supplementary rate information and supporting information for noncompetitive markets at least thirty (30) days before the proposed effective date. The commissioner may give written notice, within thirty (30) days of the receipt of the filing, that he needs additional time, not to exceed thirty (30) days from the date of the notice, to consider the filing. Upon written application of the insurer, the commissioner may authorize rates to be effective before the expiration of the waiting period or an extension thereof. A filing shall be deemed to meet the requirements of this chapter and to become effective unless disapproved pursuant to W.S. 26-14-108 by the commissioner before the expiration of the waiting period or an extension thereof. Residual market mechanisms or advisory organizations may file residual market rates. The filing shall be deemed in compliance with the filing provisions of this section unless the commissioner informs the insurer within ten (10) days after receipt of the filing as to what supplementary rate information or supporting information is required to complete the filing.
(c) All information provided to the insurance commissioner under this chapter shall be open to public inspection. Copies may be obtained from the commissioner upon request and upon payment of a reasonable fee.
(d) Notwithstanding any other provisions of this section, upon written application of the insured, stating the reason therefor filed with the commissioner, a rate in excess of that otherwise applicable may be used on any specific risk.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 14 - Rates and Rating Organizations › Section 26-14-108 - Disapproval of Rates; Bases; Procedures.

26-14-108. 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 commissioner shall be subject to the following procedures:
(i) Prior to the expiration of the waiting period or an extension thereof of a filing made pursuant to W.S. 26-14-107(b), the commissioner may disapprove by written order rates filed pursuant to W.S. 26-14-107(b) without hearing. The order shall specify in what respects such filing fails to meet the requirements of this chapter. Any insurer whose rates are disapproved under this section shall be given a hearing upon written request made within thirty (30) days of disapproval;
(ii) If at any time the commissioner finds that a rate applicable to insurance sold in a noncompetitive market does not comply with the standards set forth in W.S. 26-14-105, he may, after a hearing held upon not less than twenty (20) days written notice, issue an order in accordance with subsection (c) of this section, disapproving the rate. Such notice shall be sent to every insurer and rate service organization which adopted the rate and shall specify the matters to be considered at the hearing. The order shall not affect any contract or policy made or issued prior to the expiration of the period set forth in the order.
(c) If the commissioner disapproves a rate pursuant to subsection (b) of this section, he shall issue an order within thirty (30) days of the close of the hearing specifying in what respects the rate fails to meet the requirements of this chapter. The order shall state an effective date no sooner than forty-five (45) business days after the date of the order when the use of the rate shall be discontinued. The order shall not affect any policy made before the effective date of the order.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 14 - Rates and Rating Organizations › Section 26-14-110 - Records and Reports; Exchange of Information.

26-14-110. 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 organizations to assist in gathering such experience and making compilations thereof. No insurer shall be required to record or report its experience in a manner inconsistent with its own rating system.
(b) The commissioner and every insurer and an advisory organization may exchange information and experience data with insurance regulatory officials, insurers, rate service organizations and advisory organizations in this and other states and may consult with them with respect to rate making and the application of rating systems.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 14 - Rates and Rating Organizations › Section 26-14-111 - Insurers and Advisory Organizations; Monopolies Prohibited; Agreements to Adhere Prohibited.

26-14-111. 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 provided in this chapter, no insurer shall agree with any other insurer, rate service organization or advisory organization to adhere to or use any rate, supplementary rate information, policy surveys, inspections or similar material.
(c) The fact that two (2) or more insurers, whether or not members or subscribers of any advisory organization, use consistently or intermittently the same rates, supplementary rate information, policy or bond forms, surveys, inspections or similar materials is not sufficient in itself to support a finding that an illegal agreement exists and may be used only for the purpose of supplementing or explaining other direct evidence of the existence of any such agreement.
(d) Two (2) or more insurers having a common ownership or operating in this state under common management or control may act in concert between or among themselves with respect to any matters pertaining to activities authorized in this chapter as if they constituted a single insurer.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 14 - Rates and Rating Organizations › Section 26-14-112 - Joint Underwriting; Pool and Residual Market Activities.

26-14-112. Joint underwriting; pool and residual market activities.
(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 and investigations, the furnishing of loss and expense statistics or other information and conducting research. Joint underwriting, pools and residual market mechanisms shall not be deemed rate advisory organizations.
(b) If, after notice and hearing, the commissioner finds that any activity or practice of an insurer participating in a joint underwriting or pooling mechanism is unfair or unreasonable, or otherwise inconsistent with the provisions or purposes of this chapter, he may issue a written order specifying in what respects such activity or practice is unfair, unreasonable, anti-competitive or otherwise inconsistent with the provisions of this chapter and require the discontinuance of such activity or practice.
(c) Every pool shall file with the commissioner a copy of its constitution, articles of incorporation, agreement or association, bylaws, rules and regulations governing activities, the name and address of a resident of this state upon whom notices, process and orders of the commissioner may be served and any changes or modifications thereof.
(d) Any residual market mechanism, plan or agreement to implement such a mechanism, and any changes or amendments thereto, shall be submitted in writing to the commissioner for approval, together with any information as he may reasonably require. The commissioner shall approve such agreements if they foster the use of rates which meet the standards prescribed by this chapter and activities and practices not inconsistent with the provisions of this chapter.
(e) The commissioner may review the operations of all residual market mechanisms to determine compliance with the provisions of this chapter. If, after a notice and hearing, the commissioner finds that the mechanisms are violating the provisions of this chapter, he may issue a written order to the parties involved specifying in what respects the operations violate the provisions of this chapter. He may further order the discontinuance or elimination of any operation.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 14 - Rates and Rating Organizations › Section 26-14-113 - Examinations; Records; Costs; Report in Lieu of Examination.

26-14-113. Examinations; records; costs; report in lieu of examination.
(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 mechanism shall maintain adequate records from which the commissioner may determine compliance with the provisions of this chapter. The records shall contain the experience, data, statistics and other information collected or used and shall be available to the commissioner for examination or inspection upon reasonable notice.
(c) The reasonable cost of an examination made pursuant to this section shall be paid by the examined party upon presentation to it of a detailed account of the costs.
(d) The commissioner may accept the report of an examination made by the insurance supervisory official of another state in lieu of an examination under this section.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 14 - Rates and Rating Organizations › Section 26-14-115 - Dividends.

26-14-115. 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 unabsorbed premium deposits allowed or returned by insurers to their policyholders, members or subscribers shall not be deemed a rating plan or system.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 14 - Rates and Rating Organizations › Section 26-14-116 - Penalties; Technical Violations; Revocation and Suspension of License; Written Orders; Contents.

26-14-116. 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 to any other penalty provided by law. In no event shall penalties imposed by this subsection exceed fifty thousand dollars ($50,000.00) in the aggregate.
(b) Technical violations arising from systems or computer errors of the same type shall be treated as a single violation. In the event of an overcharge, if the insurer makes restitution including payment of interest, no penalty shall be imposed.
(c) The commissioner may suspend or revoke the license of any insurer or advisory organization which fails to comply with an order of the commissioner within the time prescribed by the order, or any extension thereof which the commissioner may grant.
(d) The commissioner may determine when a suspension of license shall become effective and the period of the suspension, which he may modify or rescind in any reasonable manner.
(e) No penalty shall be imposed and no license shall be suspended or revoked except upon a written order of the commissioner made after notice and hearing, which shall include a finding that the party against whom the proceedings were brought violated this chapter, specify the section or sections of the statutes violated, and indicate the penalty and taxes, if any, imposed.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 14 - Rates and Rating Organizations › Section 26-14-118 - Notice and Hearing.

26-14-118. Notice and hearing.
(a) All notices rendered pursuant to the provisions of this chapter shall be in writing and shall state clearly the nature and purpose of the hearing. All relevant facts, statutes and rules shall be specified so that a respondent is fully informed of the scope of the hearing, including specific allegations, if any. If a hearing is required, all notices shall designate a hearing date at least two (2) weeks from the date of the notice, unless such minimum notice period is waived by respondent.
(b) All hearings pursuant to the provisions of this chapter shall be conducted in accordance with the Wyoming Administrative Procedure Act to the extent the provisions are consistent with the procedural requirements contained in this chapter.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 15 - The Insurance Contract › Article 1 - In General › Section 26-15-101 - Scope of Chapter.

26-15-101. 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.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 15 - The Insurance Contract › Article 1 - In General › Section 26-15-102 - Life Insurance Upon Individual or Person in Whom He Has Insurable Interest; "Insurable Interest" Defined.

26-15-102. 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. 26-15-103, no person shall procure or cause to be procured any insurance contract upon the life or body of another individual unless the benefits under the contract are payable to the individual insured or his personal representatives, or to a person having, at the time when the contract is made, an insurable interest in the individual insured.
(b) If the beneficiary, assignee or other payee under any contract made in violation of this section receives from the insurer any benefits thereunder accruing upon the death, disablement or injury of the individual insured, the individual insured or his executor or administrator, as the case may be, may maintain an action to recover the benefits from the person receiving them.
(c) "Insurable interest" as to personal insurance means that any individual has an insurable interest in the life, body and health of himself, and of other persons as follows:
(i) In the case of individuals related closely by blood or by law, a substantial interest engendered by love and affection;
(ii) In the case of other persons, a lawful and substantial economic interest in having the life, health or bodily safety of the individual insured continue, as distinguished from an interest arising only by, or enhanced in value by, the death, disablement or injury of the individual insured; and
(iii) An individual party to a contract or option for the purchase or sale of an interest in a business partnership or firm, or of shares of stock of a closed corporation or of an interest in those shares, has an insurable interest in the life of each individual party to the contract and for the purposes of the contract only, in addition to any insurable interest which otherwise exists as to that individual's life.
(d) An insurer may rely upon all statements, declarations and representations made by an applicant for insurance relative to the applicant's insurable interest in the insured. No insurer incurs legal liability, except as set forth in the policy, by virtue of any untrue statements, declarations or representations relied upon in good faith.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 15 - The Insurance Contract › Article 1 - In General › Section 26-15-103 - Life Insurance for Benefit of Charitable Institutions.

26-15-103. Life insurance for benefit of charitable institutions.
(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 or religious institutions are designated irrevocably as a beneficiary but not necessarily the primary beneficiary thereof.
(b) In making a contract as specified in subsection (a) of this section, the person paying the premium shall make and sign the application therefor as owner and shall designate a charitable, benevolent, educational or religious institution irrevocably as the beneficiary or one (1) of the beneficiaries of the policy. The application also shall be signed by the person whose life is to be insured.
(c) The contract is valid and binding among all of the parties thereto, notwithstanding that the owner has no insurable interest in the life of the person insured.
2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 15 - The Insurance Contract › Article 1 - In General › Section 26-15-104 - Insurable Interest in Property; "Insurable Interest" Defined.

26-15-104. 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 at the time of the loss.
(b) The measure of an insurable interest in property is the extent to which the insured might be directly or indirectly damnified by loss or impairment thereof.
(c) "Insurable interest" as used in this section means any actual, lawful and substantial economic interest in the safety or preservation of the subject of the insurance free from loss, destruction or pecuniary damage or impairment.