2023 Wyoming Statutes › Title 26 - Insurance Code › Chapter 19 - Group and Blanket Disability Insurance › Article 1 - In General › Section 26-19-102 - "Group Disability Insurance" Defined; Eligible Groups.

26-19-102. "Group disability insurance" defined; eligible groups.
(a) "Group disability insurance" means that form of disability insurance covering groups of persons as described in this section and W.S. 26-19-110, with or without one (1) or more members of their families or one (1) or more of their dependents, or covering one (1) or more members of the families or one (1) or more dependents of the groups of persons. Except as provided in W.S. 26-19-110, a group disability insurance policy shall not be issued for delivery in this state unless the policy is issued to:
(i) An employer or trustees of a fund established or adopted by an employer, which employer or trustee is deemed the policyholder, insuring the employer's employees for the benefit of persons other than the employer, subject to the following requirements:
(A) All employees or any class of employees are eligible for insurance under the terms of the policy;
(B) The policy may define "employees" to include:
(I) The officers, managers and employees of the employer;
(II) The individual proprietor or partner if the employer is an individual proprietor or partnership;
(III) The officers, managers and employees of subsidiary or affiliated corporations;
(IV) The individual proprietors, partners and employees of individuals and firms, if the business of the employer and the individual or firm is under common control through stock ownership, contract, or otherwise;
(V) Retired employees;
(VI) Former employees;
(VII) Directors of a corporate employer;
(VIII) Elected or appointed officials;
(IX) The trustees, their employees, or both, if their duties are principally connected with the trusteeship.
(C) If the insured employee does not pay any part of the premium for his insurance, the policy shall insure all eligible employees, except those who reject the coverage in writing.
(ii) An association, or a trust or the trustee of a fund established or adopted for the benefit of members of one (1) or more associations. The association shall have at the time the policy is first issued a minimum of fifty (50) persons eligible for insurance, shall have a constitution and bylaws which provide that the association holds regular meetings not less than annually to further the members' purposes, that the association, except for credit unions, collects dues or solicits contributions from members, and that the members have voting privileges and representation on the governing board and committees. Prior to marketing or offering any group disability insurance to an association formed for the sole purpose of obtaining insurance, the producer shall file a written report with the department setting forth the name of the association, the insurer and its address and the offering producer and his address. The department shall keep the name of the association confidential. The provisions of the Small Employer Health Insurance Availability Act, W.S. 26-19-301 et seq., shall apply to all insurance issued to an association under this section. As used in this paragraph, "association" shall not include a multiple employer welfare arrangement. The policy is subject to the following requirements:
(A) The policy may insure one (1) or more of the following or all of any class of the following for the benefit of persons other than the employee's employer:
(I) Members of the association;
(II) Employees of the association; or
(III) Employees of members.
(B) If the covered person does not pay any part of the premium for his insurance, the policy shall insure all eligible persons, except those who reject the coverage in writing.
(iii) A trust or the trustees of a fund established or adopted by two (2) or more employers, by one (1) or more labor unions or similar employee organizations, or by one (1) or more employers and one (1) or more labor unions or similar employee organizations, which trust or trustees are deemed the policyholder, to insure employees of the employers or members of the union or organization for the benefit of persons other than the employers, unions or organizations, subject to the following requirements:
(A) All employees of the employers, members of the unions or organizations or any class of the employers, union members or organization members are eligible for insurance under the terms of the policy;
(B) The policy may provide that the term "employees" shall include:
(I) The employees of one (1) or more subsidiary corporations and the employees, individual proprietors and partners of one (1) or more affiliated corporations, proprietorships or partnerships if the business of the employer and of the affiliated corporations, proprietorships or partnerships is under common control;
(II) Retired or former employees;
(III) Directors of a corporate employer;
(IV) The trustees, trustees' employees, or both, if their duties are principally connected with the trusteeship.
(C) If the insured person does not pay any part of the premium for his insurance, the policy shall insure all eligible persons, except those who reject such coverage in writing.
(iv) Under a policy issued to any person or organization to which a policy of group life insurance may be issued or delivered in this state to insure any class or classes of individuals that could be insured under the group life policy;
(v) Repealed by Laws 1990, ch. 5, 3.
(vi) A creditor, a creditor's parent holding company or a trustee or agent designated by two (2) or more creditors, which creditor, holding company, affiliate, trustee or agent is deemed the policyholder, to insure debtors of the creditor concerning their indebtedness, subject to the following requirements:
(A) All debtors or any class of debtors of the creditor are eligible for insurance under the terms of the policy;
(B) The policy may provide that the term "debtors" shall include:
(I) Borrowers of money or purchasers or lessees of goods, services or property for which payment is arranged through a credit transaction;
(II) The debtors of one (1) or more subsidiary corporations; and
(III) The debtors of one (1) or more affiliated corporations, proprietorships or partnerships if the business of the policyholder and of the affiliated corporations, proprietorships or partnerships is under common control.
(C) If the insured debtor does not pay any part of the premium for his insurance, the policy shall insure all eligible debtors;
(D) The total amount of insurance payable for an indebtedness shall not exceed the greater of the scheduled or actual amount of unpaid indebtedness to the creditor. The insurer may exclude any payments which are delinquent on the date the debtor is disabled as defined in the policy;
(E) The insurance may be payable to the creditor or any successor to the right, title and interest of the creditor. The payment shall reduce or extinguish the unpaid indebtedness of the debtor to the extent of the payment and any excess of the insurance is payable to the insured or the estate of the insured;
(F) Notwithstanding subparagraphs (A) through (D) of this paragraph, insurance on agricultural credit transaction commitments may be written up to the amount of the loan commitment. Insurance on educational credit transaction commitments may be written up to the amount of the loan commitment less the amount of any repayments made on the loan.
(vii) A credit union or a trustee or agent designated by two (2) or more credit unions, which credit union, trustee or agent is deemed the policyholder, to insure members of the credit union for the benefit of persons other than the credit union, trustee, agent or any of their officials, subject to the following requirements:
(A) All members or all of any class of members of the credit union are eligible for insurance under the terms of the policy;
(B) Policy premiums shall be paid by the policyholder from the credit union's funds and shall insure all eligible members.
(viii) A labor union or similar employee organization which union or organization is deemed the policyholder, to insure members of the union or organization for the benefit of persons other than the union or organization or any of its officials, representatives or agents, subject to the following requirements:
(A) All members or any class of members of the union or organization are eligible for insurance under the terms of the policy;
(B) If the insured member does not pay any part of the premium for his insurance, the policy shall insure all eligible members, except those who reject such coverage in writing.
(ix) A multiple employer welfare arrangement under the jurisdiction of the department which:
(A) Is domiciled in Wyoming; or
(B) Maintains its principal place of business in Wyoming.