reglab/statecodes huggingface dataset:
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 55 - STANDARDS FOR SAFEGUARDING CUSTOMER INFORMATION › Section 55-9 - Adjust the Program

Current through July 13, 2024
The licensee monitors, evaluates and adjusts, as appropriate,
				  the information security program in light of any relevant changes in
				  technology, the sensitivity of its customer information, internal or external
				  threats to information, and the licensee's own changing business arrangements,
				  such as mergers and acquisitions, alliances and joint ventures, outsourcing
				  arrangements and changes to customer information systems.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 55 - STANDARDS FOR SAFEGUARDING CUSTOMER INFORMATION › Section 55-10 - Determined Violation

Current through July 13, 2024
Any violation of this Regulation constitutes an undefined
				  unfair or deceptive trade practice as set forth in and subject to W.S. §
									
										26-13-116 and shall be subject to penalties
				  set forth at W.S. §
									
										26-1-107.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 55 - STANDARDS FOR SAFEGUARDING CUSTOMER INFORMATION › Section 55-11 - Severability

Current through July 13, 2024
If any section or portion of a section of this regulation or
				  its applicability to any person or circumstance is held invalid by a court, the
				  remainder of the regulation or the applicability of the provision to other
				  persons or circumstances shall not be affected.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 55 - STANDARDS FOR SAFEGUARDING CUSTOMER INFORMATION › Section 55-12 - Effective Date

Current through July 13, 2024
Each licensee shall establish and implement an information
				  security program, including appropriate policies and systems pursuant to this
				  regulation by July 1, 2003.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 57 - REGULATION ON CUSTODIAL AGREEMENTS AND THE USE OF CLEARING CORPORATIONS › Section 57-1 - Authority

Current through July 13, 2024
This regulation is issued pursuant to W.S. §§
									
										26-2-110,
				  26-8-202(b), and
				  16-3-101,
et
				  seq.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 57 - REGULATION ON CUSTODIAL AGREEMENTS AND THE USE OF CLEARING CORPORATIONS › Section 57-2 - Applicability and Scope

Current through July 13, 2024
This regulation applies to Wyoming domestic insurers and any
				  other licensed insurers holding securities in the custody of a custodian
				  pursuant to W.S. §§
									
										26-3-111 and
				  26-8-101.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 57 - REGULATION ON CUSTODIAL AGREEMENTS AND THE USE OF CLEARING CORPORATIONS › Section 57-5 - Deposit with Affiliates; Requirements

Current through July 13, 2024
(a) Nothing in this regulation shall prevent
				an insurance company from depositing securities with another insurance company
				with which the depositing insurance company is affiliated, provided that the
				securities are deposited pursuant to a written agreement authorized by the
				board of directors of the depositing insurance company or an authorized
				committee thereof and that the receiving insurance company is organized under
				the laws of one of the states of the United States of America or of the
				District of Columbia. If the respective states of domicile of the depositing
				and receiving insurance companies are not the same, the depositing insurance
				company shall have given notice of the deposit to the Commissioner in the state
				of its domicile and the Commissioner shall not have objected to it within
				thirty (30) days of the receipt of the notice.
(b) The terms of the agreement shall comply
				with the following:
(i) The insurance company
				receiving the deposit shall maintain records adequate to identify and verify
				the securities belonging to the depositing insurance company.
(ii) The receiving insurance company shall
				allow representatives of an appropriate regulatory body to examine records
				relating to securities held subject to the agreement.
(iii) The depositing insurance company may
				authorize the receiving insurance company:
(A)
				To hold the securities of the depositing insurance company in bulk, in
				certificates issued in the name of the receiving insurance company or its
				nominee, and to commingle them with securities owned by other affiliates of the
				receiving insurance company; and
(B) To provide for the securities to be held
				by a custodian, including the custodian of securities of the receiving
				insurance company or in a clearing corporation.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 57 - REGULATION ON CUSTODIAL AGREEMENTS AND THE USE OF CLEARING CORPORATIONS › Section 57-7 - Severability

Current through July 13, 2024
If any section or portion of a section of this regulation or
				  its applicability to any person or circumstance is held invalid by a court, the
				  remainder of the regulation or the applicability of the provision to other
				  persons or circumstances shall not be affected.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 57 - REGULATION ON CUSTODIAL AGREEMENTS AND THE USE OF CLEARING CORPORATIONS › Form A

Current through July 13, 2024
CUSTODIAN AFFIDAVIT
[For use by a custodian where securities entrusted to its
				  care have not been redeposited elsewhere.]
STATE OF __________________________ )
) ss.
COUNTY OF ________________________ )
_______________________________________ , being duly sworn
				  deposes and says that he or
she is ____________________ of
				  _____________________________________ , a corporation organized under and
				  pursuant to the laws of the _________________ with the principal place of
				  business at ____________________________ (hereinafter called the
				  "corporation"):
That his or her duties involve supervision of activities as
				  custodian and records relating thereto;
That the corporation is custodian for certain securities of
				  __________________________________________ having a place of business at
				  ____________________________________________________ (hereinafter called the
				  "insurance company") pursuant to an agreement between the corporation and the
				  insurance company;
That the schedule attached hereto is a true and complete
				  statement of securities (other than those caused to be deposited with The
				  Depository Trust Company or like entity or a Federal Reserve Bank under the
				  TRADES or Treasury Direct systems) which were in the custody of the corporation
				  for the account of the insurance company as of the close of business on
				  ________________________ ; that, unless otherwise indicated on the schedule,
				  the next maturing and all subsequent coupons were then either attached to
				  coupon bonds or in the process of collection; and that, unless otherwise shown
				  on the schedule, all such securities were in bearer form or in registered form
				  in the name of the insurance company or its nominee or of the corporation or
				  its nominee, or were in the process of being registered in such form;
That the corporation as custodian has the responsibility for
				  the safekeeping of such securities as that responsibility is specifically set
				  forth in the agreement between the corporation as custodian and the insurance
				  company; and
That, to the best of his or her knowledge and belief, unless
				  otherwise shown on the schedule, the securities were the property of the
				  insurance company and were free of all liens, claims or encumbrances
				  whatsoever.
Subscribed and sworn to
before me this _____ day
of ______________ , 20____ _______________________________
				  (L.S.)
Vice President [or other authorized
				  officer]
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 57 - REGULATION ON CUSTODIAL AGREEMENTS AND THE USE OF CLEARING CORPORATIONS › Form B

Current through July 13, 2024
CUSTODIAN AFFIDAVIT
(For use in instances where a custodian corporation maintains
				  securities on deposit with The Depository Trust Company or like entity.)
STATE OF __________________________ )
) ss.
COUNTY OF ________________________ )
__________________________________________ , being duly sworn
				  deposes and says that he or she is ____________________ of
				  __________________________________________ , a corporation organized under and
				  pursuant to the laws of the _______________________ with the principal place of
				  business at __________________________ (hereinafter called the
				  "corporation"):
That his or her duties involve supervision of activities of
				  the corporation as custodian and records relating thereto;
That the corporation is custodian for certain securities of
				  ________________________________having a place of business at
				  _____________________________________________________ (hereinafter called the
				  "insurance company") pursuant to an agreement between the corporation and the
				  insurance company;
That the corporation has caused certain of such securities to
				  be deposited with __________________________________________ and that the
				  schedule attached hereto is a true and complete statement of the securities of
				  the insurance company of which the corporation was custodian as of the close of
				  business on _______________________________________ , and which were so
				  deposited on such date;
That the corporation as custodian has the responsibility for
				  the safekeeping of the securities both in the possession of the corporation or
				  deposited with ___________________________________ as is specifically set forth
				  in the agreement between the corporation as custodian and the insurance
				  company; and
That, to the best of his or her knowledge and belief, unless
				  otherwise shown on the schedule, the securities were the property of the
				  insurance company and were free of all liens, claims or encumbrances
				  whatsoever.
Subscribed and sworn to
before me this _____ day
of ______________ , 20____ _______________________________
				  (L.S.)
Vice President [or other authorized
				  officer]
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 57 - REGULATION ON CUSTODIAL AGREEMENTS AND THE USE OF CLEARING CORPORATIONS › Form C

Current through July 13, 2024
CUSTODIAN AFFIDAVIT
(For use where ownership is evidenced by book entry at a
				  Federal Reserve Bank.)
STATE OF __________________________ )
) ss.
COUNTY OF ________________________ )
_______________________________________ , being duly sworn
				  deposes and says that he or she is ____________________ of
				  _______________________________________ , a corporation organized under and
				  pursuant to the laws of the __________________________ with the principal place
				  of business at ________________________________________________ (hereinafter
				  called the "corporation"):
That his or her duties involve supervision of activities of
				  the corporation as custodian and records relating thereto;
That the corporation is custodian for certain securities of
				  ________________________________ with a place of business at
				  __________________________ (hereinafter called the "insurance company")
				  pursuant to an agreement between the corporation and the insurance
				  company;
That it has caused certain securities to be credited to its
				  book entry account with the Federal Reserve Bank of
				  ________________________________________ under the TRADES or Treasury Direct
				  systems; and that the schedule attached hereto is a true and complete statement
				  of the securities of the insurance company of which the corporation was
				  custodian as of the close of business on ________________ , which were in a
				  "general" book entry account maintained in the name of the corporation on the
				  books and records of the Federal Reserve Bank of _______________________ at
				  such date;
That the corporation has the responsibility for the
				  safekeeping of such securities both in the possession of the corporation or in
				  the "general" book entry account as is specifically set forth in the agreement
				  between the corporation as custodian and the insurance company; and
That, to the best of his or her knowledge and belief, unless
				  otherwise shown on the schedule, the securities were the property of the
				  insurance company and were free of all liens, claims or encumbrances
				  whatsoever.
Subscribed and sworn to
before me this _____ day
of ______________ , 20____ _______________________________
				  (L.S.)
Vice President [or other authorized
				  officer]
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 58 - RECOGNITION OF THE 2001 CSO MORTALITY TABLE › Section 58-1 - Authority

Current through July 13, 2024
This regulation is promulgated by the Commissioner of
				  Insurance pursuant to Wyo. Stat. §
									§
									
										26-2-110(a),
				  26-6-205(b)(i)(C)(III),
				  26-16-209(j)(vi) 
				  and Chapter 6 of the Wyoming Insurance Regulations.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 58 - RECOGNITION OF THE 2001 CSO MORTALITY TABLE › Section 58-2 - Purpose

Current through July 13, 2024
The purpose of this regulation is to recognize, permit and
				  prescribe the use of the 2001 Commissioners Standard Ordinary (CSO) Mortality
				  Table in accordance with Wyo. Stat. §
									§
									
										26-6-205(b)(i)(C)(III) and
				  26-16-209(j)(vi).
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 58 - RECOGNITION OF THE 2001 CSO MORTALITY TABLE › Section 58-3 - Definitions

Current through July 13, 2024
(a) "2001 CSO Mortality Table" means that
				mortality table, consisting of separate rates of mortality for male and female
				lives, developed by the American Academy of Actuaries CSO Task Force from the
				Valuation Basic Mortality Table developed by the Society of Actuaries
				Individual Life Insurance Valuation Mortality Task Force, and adopted by the
				NAIC in December 2002. The 2001 CSO Mortality Table is included in the
				Proceedings of the NAIC (2nd Quarter 2002). Unless the context indicates
				otherwise, the "2001 CSO Mortality Table" includes both the ultimate form of
				that table and the select and ultimate form of that table and includes both the
				smoker and nonsmoker mortality tables and the composite mortality tables. It
				also includes both the age-nearest-birthday and age- last-birthday bases of the
				mortality tables.
(b) "2001 CSO
				Mortality Table (F)" means that mortality table consisting of the rates of
				mortality for female lives from the 2001 CSO Mortality Table.
(c) "2001 CSO Mortality Table (M)" means that
				mortality table consisting of the rates of mortality for male lives from the
				2001 CSO Mortality Table.
(d)
				"Composite mortality tables" means mortality tables with rates of mortality
				that do not distinguish between smokers and nonsmokers.
(e) "Smoker and nonsmoker mortality tables"
				means mortality tables with separate rates of mortality for smokers and
				nonsmokers.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 58 - RECOGNITION OF THE 2001 CSO MORTALITY TABLE › Section 58-4 - 2001 CSO Mortality Table

Current through July 13, 2024
(a) At the election
				of the company for any one or more specified plans of insurance and subject to
				the conditions stated in this regulation, the 2001 CSO Mortality Table may be
				used as the minimum standard for policies issued on or after January 1, 2005,
				and before the date specified in Subsection (b) to which Wyo. Stat. §
									§
									
										26-6-205(b)(i)(C)(III) and
				26-16-209(j)(vi) 
				are applicable. If the company elects to use the 2001 CSO Mortality Table, it
				shall do so for both valuation and nonforfeiture purposes.
(b) Subject to the conditions stated in this
				regulation, the 2001 CSO Mortality Table shall be used in determining minimum
				standards for policies issued on and after January 1, 2009, to which Wyo. Stat.
				§
									
										26-6-205(b)(i)(C)(III) and
				26-16-290(j)(vi) are applicable.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 58 - RECOGNITION OF THE 2001 CSO MORTALITY TABLE › Section 58-5 - Conditions

Current through July 13, 2024
(a) For each plan of insurance with separate
				rates for smokers and nonsmokers an insurer may use:
(i) Composite mortality tables to determine
				minimum reserve liabilities and minimum cash surrender values and amounts of
				paid- up nonforfeiture benefits;
(ii) Smoker and nonsmoker mortality tables to
				determine the valuation net premiums and additional minimum reserves, if any,
				required by Wyo. Stat. §
										
											26-6-205 and use composite mortality tables
				to determine the basic minimum reserves, minimum cash surrender values and
				amounts of paid-up nonforfeiture benefits; or
(iii) Smoker and nonsmoker mortality to
				determine minimum reserve liabilities and minimum cash surrender values and
				amounts of paid- up nonforfeiture benefits.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 58 - RECOGNITION OF THE 2001 CSO MORTALITY TABLE › Section 58-6 - Gender-Blended Tables

Current through July 13, 2024
(a) For any
				ordinary life insurance policy delivered or issued for delivery in this state
				on and after January 1, 2005, that utilizes the same premium rates and charges
				for male and female lives or is issued in circumstances where applicable law
				does not permit distinctions on the basis of gender, a mortality table that is
				a blend of the 2001 CSO Mortality Table (M) and the 2001 CSO Mortality Table
				(F) may, at the option of the company for each plan of insurance, be
				substituted for the 2001 CSO Mortality Table for use in determining minimum
				cash surrender values and amounts of paid-up nonforfeiture benefits. No change
				in minimum valuation standards is implied by this subsection of the
				regulation.
(b) The company may
				choose from among the blended tables developed by the American Academy of
				Actuaries CSO Task Force and adopted by the NAIC in December 2002.
(c) It shall not, in and of itself, be a
				violation of Wyo. Stat. §
									
										26-13-109 for an insurer to issue the same
				kind of policy of life insurance on both a sex-distinct and sex-neutral
				basis.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 58 - RECOGNITION OF THE 2001 CSO MORTALITY TABLE › Section 58-7 - Severability

Current through July 13, 2024
If any provision of this regulation or its application to any
				  person or circumstance is for any reason held to be invalid, the remainder of
				  the regulation and the application of the provision to other persons or
				  circumstances shall not be affected.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 59 - REGULATION PERMITTING THE RECOGNITION OF PREFERRED MORTALITY TABLES FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES › Section 59-1 - Authority

Current through July 13, 2024
This regulation is promulgated by the Commissioner of
				  Insurance pursuant to Wyo. Stat. §
									§
									
										26-2-110(a) and
				  26-6-205(b)(i)(C)(III).
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 59 - REGULATION PERMITTING THE RECOGNITION OF PREFERRED MORTALITY TABLES FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES › Section 59-2 - Purpose

Current through July 13, 2024
The purpose of this regulation is to recognize, permit and
				  prescribe the use of mortality tables that reflect differences in mortality
				  between preferred and standard lives in determining minimum reserve liabilities
				  in accordance with Wyo. Stat. §
									
										26-6-205(b)(i)(C)(III).
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 59 - REGULATION PERMITTING THE RECOGNITION OF PREFERRED MORTALITY TABLES FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES › Section 59-3 - Definitions

Current through July 13, 2024
(a) "2001 CSO Mortality Table" means that
				mortality table, consisting of separate rates of mortality for male and female
				lives, developed by the American Academy of Actuaries CSO Task Force from the
				Valuation Basic Mortality Table developed by the Society of Actuaries
				Individual Life Insurance Valuation Mortality Task Force, and adopted by the
				NAIC in December 2002. The 2001 CSO Mortality Table is included in the
				Proceedings of the NAIC (2nd Quarter 2002) and supplemented by the 2001 CSO
				Preferred Class Structure Mortality Table defined below in Subsection (b).
				Unless the context indicates otherwise, the "2001 CSO Mortality Table" includes
				both the ultimate form of that table and the select and ultimate form of that
				table and includes both the smoker and nonsmoker mortality tables and the
				composite mortality tables. It also includes both the age-nearest-birthday and
				age-last-birthday bases of the mortality tables. Mortality tables in the 2001
				CSO Mortality Table include the following:
(i) "2001 CSO Mortality Table (F)" means that
				mortality table consisting of the rates of mortality for female lives from the
				2001 CSO Mortality Table.
(ii)
				"2001 CSO Mortality Table (M)" means that mortality table consisting of the
				rates of mortality for male lives from the 2001 CSO Mortality Table.
(iii) "Composite mortality tables" means
				mortality tables with rates of mortality that do not distinguish between
				smokers and nonsmokers.
(iv)
				"Smoker and nonsmoker mortality tables" means mortality tables with separate
				rates of mortality for smokers and nonsmokers.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 59 - REGULATION PERMITTING THE RECOGNITION OF PREFERRED MORTALITY TABLES FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES › Section 59-4 - 2001 CSO Mortality Table

Current through July 13, 2024
At the election of the company, for each calendar year of
				  issue, for any one or more specified plans of insurance and subject to
				  satisfying the conditions stated in this regulation, the 2001 CSO Preferred
				  Class Structure Mortality Table may be substituted in place of the 2001 CSO
				  Smoker or Nonsmoker Mortality Table as the minimum valuation standard for
				  policies issued on or after January 1, 2007. For policies issued on or after
				  January 1, 200 5, and prior to January 1, 2007, these tables may be substituted
				  with the consent of the commissioner and subject to the conditions of Section
				  5. In determining such consent, the commissioner may rely on the consent of the
				  commissioner of the company's state of domicile. No such election shall be made
				  until the company demonstrates at least 20 percent of the business to be valued
				  on this table is in one or more of the preferred classes. A table from the 2001
				  CSO Preferred Class Structure Mortality Table used in place of a 2001 CSO
				  Mortality Table, pursuant to the requirements of this rule, will be treated as
				  part of the 2001 CSO Mortality Table only for purposes of reserve valuation
				  pursuant to the requirements of the NAIC model regulation, "Recognition of the
				  2001 CSO Mortality Table for Use in Determining Minimum Reserve Liabilities and
				  Nonforfeiture Benefits Model Regulation."
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 59 - REGULATION PERMITTING THE RECOGNITION OF PREFERRED MORTALITY TABLES FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES › Section 59-5 - Conditions

Current through July 13, 2024
(a) For each plan of insurance with separate
				rates for preferred and standard nonsmoker lives, an insurer may use the Super
				Preferred Nonsmoker, Preferred Nonsmoker, and Residual Standard Nonsmoker
				tables to substitute for the nonsmoker mortality table found in the 2001 CSO
				Mortality Table to determine minimum reserves. At the time of election and
				annually thereafter, except for business valued under the Residual Standard
				Nonsmoker Table, the appointed actuary shall annually certify that:
(i) The present value of death benefits over
				the next ten years after the valuation date, using the anticipated mortality
				experience without recognition of mortality improvement beyond the valuation
				date for each class, is less than the present value of death benefits using the
				valuation basic table corresponding to the valuation table being used for that
				class.
(ii) The present value of
				death benefits over the future life of the contracts, using the anticipated
				mortality experience without recognition of mortality improvement beyond the
				valuation date for each class, is less than the present value of death benefits
				using the valuation basic table corresponding to the valuation table being used
				for that class.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 59 - REGULATION PERMITTING THE RECOGNITION OF PREFERRED MORTALITY TABLES FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES › Section 59-6 - Severability

Current through July 13, 2024
If any provision of this regulation or its application to any
				  person or circumstance is for any reason held to be invalid, the remainder of
				  the regulation and the application of the provision to other persons or
				  circumstances shall not be affected.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 59 - REGULATION PERMITTING THE RECOGNITION OF PREFERRED MORTALITY TABLES FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES › Section 59-7 - Effective Date

Current through July 13, 2024
The effective date of this regulation is upon filing with the
				  Secretary of State.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 60 - REGULATION OF MILITARY SALES PRACTICES › Section 60-1 - Authority

Current through July 13, 2024
This regulation is issued under the authority of W.S.
				  §§
									
										26-2-110,
				  26-13-101
et
				  seq
., and
				  
										16-3-101,
et
				  seq
.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 60 - REGULATION OF MILITARY SALES PRACTICES › Section 60-2 - Exemptions

Current through July 13, 2024
(a) This regulation shall not apply to
				solicitations or sales involving the following, unless otherwise stated in this
				regulation:
(i) Credit insurance;
(ii) Group life insurance or group annuities
				where there is no in-person solicitation of individuals by an insurance
				producer or where the contract or certificate does not include a side
				fund;
(iii) An application to the
				existing insurer that issued the existing policy or contract when a contractual
				change or a conversion privilege is being exercised, or when the existing
				policy or contract is being replaced by the same insurer pursuant to a program
				filed with and approved by the commissioner, or when a term conversion
				privilege is exercised among corporate affiliates;
(iv) Individual stand-alone health policies,
				including disability income policies;
(v) Contracts offered by Servicemembers'
				Group Life Insurance (SGLI) or Veterans' Group Life Insurance (VGLI), as
				authorized by
				38
				U.S.C. Section 1965
et seq
,
				and contracts offered by State Sponsored Life Insurance (SSLI) as authorized by
				37 U.S.C. Section
				707
et seq.
;
(vi) Life insurance contracts offered through
				or by a non-profit military association, qualifying under Section 501(c)(23) of
				the Internal Revenue Code (IRC), and which are not underwritten by an insurer;
				or
(vii) Contracts used to fund:
(A) An employee pension or welfare benefit
				plan that is covered by the Employee Retirement and Income Security Act
				(ERISA);
(B) A plan described by
				Sections 401(a), 401(k), 403(b), 408(k), or 408(p) of the IRC, as amended, if
				established or maintained by an employer;
(C) A government or church plan defined in
				Section 414 of the IRC, a government or church welfare benefit plan, or a
				deferred compensation plan of a state or local government or tax exempt
				organization under Section 457 of the IRC;
(D) A nonqualified deferred compensation
				arrangement established or maintained by an employer or plan sponsor;
(E) Settlements of, or assumptions of
				liabilities associated with, personal injury litigation or any dispute or claim
				resolution process; or
(F)
				Prearranged funeral contracts.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 60 - REGULATION OF MILITARY SALES PRACTICES › Section 60-3 - Definitions

Current through July 13, 2024
(a) "Active Duty" means full-time duty in the
				active military service of the United States and includes members of the
				reserve component (National Guard and Reserve) while serving under published
				orders for active duty or full-time training. The term does not include members
				of the reserve component who are performing active duty or active duty for
				training under military calls or orders specifying periods of less than 31
				calendar days.
(b) "Department of
				Defense (DoD) Personnel" means all active duty service members and all civilian
				employees, including nonappropriated fund employees and special government
				employees, of the Department of Defense.
(c) "Door to Door" means a solicitation or
				sales method whereby an insurance producer proceeds randomly or selectively
				from household to household without a prior specific appointment.
(d) "General Advertisement" means an
				advertisement having as its sole purpose the promotion of the reader's or
				viewer's interest in the concept of insurance, or the promotion of the insurer
				or the insurance producer.
(e)
				"Insurer" means an insurance company required to be licensed under the laws of
				this state to provide life insurance products, including annuities.
(f) "Insurance producer" means a person
				required to be licensed under the laws of this state to sell, solicit, or
				negotiate life insurance, including annuities.
(g) "Known" or "Knowingly" means, depending
				on its use herein, the insurance producer or insurer had actual awareness, or
				in the exercise of ordinary care should have known, at the time of the act or
				practice complained of, that the person solicited:
(i) is a service member; or
(ii) is a service member with a pay grade of
				E-4 or below.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 60 - REGULATION OF MILITARY SALES PRACTICES › Section 60-4 - Practices Declared False, Misleading, Dishonest or Untrustworthy on a Military Installation

Current through July 13, 2024
(a) The following acts or practices when
				committed on a military installation by an insurer or insurance producer with
				respect to the in-person solicitation of life insurance are declared to be
				false, misleading, dishonest or untrustworthy:
(i) Knowingly soliciting the purchase of any
				life insurance product "door to door" or without first establishing a specific
				appointment for each meeting with the prospective purchaser.
(ii) Soliciting service members in a group or
				"mass" audience or in a "captive" audience where attendance is not
				voluntary.
(iii) Knowingly making
				appointments with or soliciting service members during their normally scheduled
				duty hours.
(iv) Making
				appointments with or soliciting service members in barracks, day rooms, unit
				areas, transient personnel housing, or other areas where the installation
				commander has prohibited solicitation.
(v) Soliciting the sale of life insurance
				without first obtaining permission from the installation commander or the
				commander's designee.
(vi) Posting
				unauthorized bulletins, notices, or advertisements.
(vii) Failing to present DD Form 2885,
				Personal Commercial Solicitation Evaluation, to service members solicited, or
				encouraging service members solicited not to complete or submit a DD Form
				2885.
(viii) Knowingly accepting an
				application for life insurance or issuing a policy of life insurance on the
				life of an enlisted member of the United States Armed Forces without first
				obtaining for the insurer's files a completed copy of any required form which
				confirms that the applicant has received counseling or fulfilled any other
				similar requirement for the sale of life insurance established by regulations,
				directives, or rules of the DoD or any branch of the Armed Forces.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 60 - REGULATION OF MILITARY SALES PRACTICES › Section 60-8 - Severability

Current through July 13, 2024
If any provision of these sections or the application thereof
				  to any person or circumstance is held invalid for any reason, the invalidity
				  shall not affect the other provisions or any other application of these
				  sections which can be given effect without the invalid provisions or
				  application. To this end all provisions of these sections are declared to be
				  severable.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 61 - PRENEED LIFE INSURANCE MINIMUM STANDARDS FOR DETERMINING RESERVE LIABILITIES AND NONFORFEITURE VALUES › Section 61-1 - Authority

Current through July 13, 2024
This regulation is promulgated by the commissioner of
				  insurance pursuant to Wyo. Stat. §
									§
									
										26-2-110(a),
				  26-6-205(b)(i)(C)(III)
				  and 26-32-201 and Wyo. Stat. §
									
										16-3-101,
et seq.
of the
				  Wyoming Administrative Procedure Act.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 61 - PRENEED LIFE INSURANCE MINIMUM STANDARDS FOR DETERMINING RESERVE LIABILITIES AND NONFORFEITURE VALUES › Section 61-2 - Purpose

Current through July 13, 2024
The purpose of this regulation is to establish for preneed
				  insurance products minimum mortality standards for reserves and nonforfeiture
				  values, and to require the use of the 1980 Commissioners Standard Ordinary
				  (CSO) Life Valuation Mortality Table for use in determining the minimum
				  standard of valuation of reserves and the minimum standard nonforfeiture values
				  for preneed insurance products.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 61 - PRENEED LIFE INSURANCE MINIMUM STANDARDS FOR DETERMINING RESERVE LIABILITIES AND NONFORFEITURE VALUES › Section 61-3 - Definitions

Current through July 13, 2024
(a) The term "2001 CSO Mortality Table" means
				that mortality table, consisting of separate rates of mortality for male and
				female lives, developed by the American Academy of Actuaries CSO Task Force
				from the Valuation Basic Mortality Table developed by the Society of Actuaries
				Individual Life Insurance Valuation Mortality Task Force, and adopted by the
				NAIC in December 2002. The 2001 CSO Mortality Table is included in the
Proceedings of the NAIC (2nd Quarter 2002).
Unless the context
				indicates otherwise, the "2001 CSO Mortality Table" includes both the ultimate
				form of that table and the select and ultimate form of that table and includes
				both the smoker and nonsmoker mortality tables and the composite mortality
				tables. It also includes both the age-nearest-birthday and age-last-birthday
				bases of the mortality tables.
(b)
				The term "Ultimate 1980 CSO" means the Commissioners' 1980 Standard Ordinary
				Life Valuation Mortality Tables (1980 CSO) without ten-year (10-year) selection
				factors, incorporated into the 1980 amendments to the NAIC Standard Valuation
				Law approved in December 1983.
(c)
				For the purposes of this regulation, preneed insurance is any life insurance
				policy or certificate that is issued in combination with, in support of, with
				an assignment to, or as a guarantee for a prearrangement agreement for goods
				and services to be provided at the time of and immediately following the death
				of the insured. Goods and services may include, but are not limited to
				embalming, cremation, body preparation, viewing or visitation, coffin or urn,
				memorial stone, and transportation of the deceased. The status of the policy or
				contract as preneed insurance is determined at the time of issue in accordance
				with the policy form filing.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 61 - PRENEED LIFE INSURANCE MINIMUM STANDARDS FOR DETERMINING RESERVE LIABILITIES AND NONFORFEITURE VALUES › Section 61-4 - Minimum Valuation Mortality Standards

Current through July 13, 2024
For preneed insurance contracts, as defined in section 3(c),
				  and similar policies and contracts, the minimum mortality standard for
				  determining reserve liabilities and nonforfeiture values for both male and
				  female insureds shall be the Ultimate 1980 CSO.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 61 - PRENEED LIFE INSURANCE MINIMUM STANDARDS FOR DETERMINING RESERVE LIABILITIES AND NONFORFEITURE VALUES › Section 61-5 - Minimum Valuation Interest Rate Standards

Current through July 13, 2024
(a) The interest
				rates used in determining the minimum standard for valuation of preneed
				insurance shall be the calendar year statutory valuation interest rates as
				defined in Wyo. Stat. §
									
										26-6-201,
et seq.
(b) The interest rates used in determining
				the minimum standard for nonforfeiture values for preneed insurance shall be
				the calendar year statutory nonforfeiture interest rates as defined in Wyo.
				Stat. §
									
										26-16-201,
et seq.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 61 - PRENEED LIFE INSURANCE MINIMUM STANDARDS FOR DETERMINING RESERVE LIABILITIES AND NONFORFEITURE VALUES › Section 61-6 - Minimum Valuation Method Standards

Current through July 13, 2024
(a) The method used
				in determining the standard for the minimum valuation of reserves of preneed
				insurance shall be the method defined in Wyo. Stat. §
									
										26-6-201
, et seq.
(b) The method used in determining the
				standard for the minimum nonforfeiture values for preneed insurance shall be
				the method defined in Wyo. Stat. §
									
										26-16-201,
et seq.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 61 - PRENEED LIFE INSURANCE MINIMUM STANDARDS FOR DETERMINING RESERVE LIABILITIES AND NONFORFEITURE VALUES › Section 61-7 - Transition Rules

Current through July 13, 2024
(a) For preneed
				insurance policies issued on or after the effective date of this regulation and
				before January 1, 2012, the 2001 CSO may be used as the minimum standard for
				reserves and minimum standard for nonforfeiture benefits for both male and
				female insureds.
(b) If an insurer
				elects to use the 2001 CSO as a minimum standard for any policy issued on or
				after the effective date of this regulation and before January 1, 2012, the
				insurer shall provide, as a part of the actuarial opinion memorandum submitted
				in support of the company's asset adequacy testing, an annual written
				notification to the domiciliary commissioner. The notification shall include:
(i) A complete list of all preneed policy
				forms that use the 2001 CSO as a minimum standard;
(ii) A certification signed by the appointed
				actuary stating that the reserve methodology employed by the company in
				determining reserves for the preneed policies issued after the effective date
				and using the 2001 CSO as a minimum standard, develops adequate reserves (for
				the purposes of this certification, the preneed insurance policies using the
				2001 CSO as a minimum standard cannot be aggregated with any other policies);
				and
(iii) Supporting information
				regarding the adequacy of reserves for preneed insurance policies issued after
				the effective date of this regulation and using the 2001 CSO as a minimum
				standard for reserves.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 62 - USE OF SENIOR-SPECIFIC CERTIFICATIONS AND PROFESSIONAL DESIGNATIONS › Section 62-1 - Purpose

Current through July 13, 2024
The purpose of this regulation is to set forth standards to
				  protect consumers from untrue, deceptive, misleading, dishonest or
				  untrustworthy marketing practices with respect to the use of senior-specific
				  certifications and professional designations in the solicitation, sale or
				  purchase of, or advice made in connection with, an annuity, accident and
				  health, or life insurance product by declaring certain practices to be untrue,
				  deceptive, misleading, dishonest and untrustworthy under Chapter 9, Article 2,
				  and Chapter 13, Article 1, of the Wyoming Insurance Code.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 62 - USE OF SENIOR-SPECIFIC CERTIFICATIONS AND PROFESSIONAL DESIGNATIONS › Section 62-2 - Scope

Current through July 13, 2024
This regulation shall apply to any solicitation, sale or
				  purchase of, or advice made in connection with, an annuity, accident and
				  health, or life insurance product by an insurance producer or
				  consultant.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 62 - USE OF SENIOR-SPECIFIC CERTIFICATIONS AND PROFESSIONAL DESIGNATIONS › Section 62-3 - Authority

Current through July 13, 2024
(a) This regulation is issued under the
				authority of Wyo. Stat. §
									§
									
										26-2-110 and
				26-9-217, and pursuant to the
				Wyoming Administrative Procedure Act, Wyo. Stat. §
									
										16-3-101,
et seq.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 62 - USE OF SENIOR-SPECIFIC CERTIFICATIONS AND PROFESSIONAL DESIGNATIONS › Section 62-4 - Prohibited Uses of Senior-Specific Certifications and Professional Designations

Current through July 13, 2024
(a) An insurance producer or consultant may
				not use a senior-specific certification or professional designation that
				indicates or implies in such a way as to mislead a purchaser or prospective
				purchaser that the insurance producer or consultant has special certification
				or training in advising or servicing seniors in connection with the
				solicitation, sale or purchase of an annuity, accident and health, or life
				insurance product, or in the provision of advice as to the value of or the
				advisability of purchasing or selling an annuity, accident and health, or life
				insurance product, either directly or indirectly through publications or
				writings, or by issuing or promulgating analyses or reports related to an
				annuity, accident and health, or life insurance product.
(b) The prohibited use of senior-specific
				certifications or professional designations is an untrue, deceptive,
				misleading, dishonest, or untrustworthy act or practice and includes, but is
				not limited to, the following:
(i) Use of a
				certification or professional designation by an insurance producer who has not
				actually earned or is otherwise ineligible to use such certification or
				designation;
(ii) Use of a
				nonexistent or self-conferred certification or professional
				designation;
(iii) Use of a
				certification or professional designation that indicates or implies a level of
				occupational qualifications obtained through education, training or experience
				that the insurance producer using the certification or designation does not
				have; and
(iv) Use of a
				certification or professional designation that was obtained from a certifying
				or designating organization that:
(A) Is
				primarily engaged in the business of instruction in sales or
				marketing;
(B) Does not have
				reasonable standards or procedures for assuring the competency of its
				certificants or designees;
(C) Does
				not have reasonable standards or procedures for monitoring and disciplining its
				certificants or designees for improper or unethical conduct; or
(D) Does not have reasonable continuing
				education requirements for its certificants or designees in order to maintain
				the certificate or designation.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 62 - USE OF SENIOR-SPECIFIC CERTIFICATIONS AND PROFESSIONAL DESIGNATIONS › Section 62-5 - Severability

Current through July 13, 2024
If any provision of this regulation or the application
				  thereof to any person or circumstance is for any reason held to be invalid, the
				  remainder of the regulation and the application of such provision to other
				  persons or circumstances shall not be affected thereby.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 63 - MEDICAL NECESSITY REVIEW RIGHTS › Section 63-1 - Authority

Current through July 13, 2024
(a) This regulation is promulgated pursuant
				to W.S. §§
									
										26-40-201 and
				26-2-110 of the Wyoming Insurance
				Code and pursuant to the Wyoming Administrative Procedures Act, W.S. §
									
										16-3-101,
et seq.
Wyoming Administrative Code › Agency 044 - Insurance Dept › Sub-Agency 0002 - General Agency, Board or Commission Rules › Chapter 63 - MEDICAL NECESSITY REVIEW RIGHTS › Section 63-2 - Purpose and Intent

Current through July 13, 2024
(a) The purpose of this Rule is to provide
				uniform standards for giving notice to claimants of their right to an
				independent review of any denial of an insurance claim as not medically
				necessary or on a similar basis, and to establish internal and external review
				procedures to assure that claimants under any insurance policy have the
				opportunity for an independent review in accordance with W. S. §
									
										26-40-201.