Wyo. Code R. 044-0002-11
Effective Date: 05/28/1985 to 12/31/1996
Rule Type: Superceded Rules & Regulations
Reference Number: 044.0002.11.05281985
Program GENERAL General Agency, Board or Commission Rules
Chapter Name Filings of Forms for Property, Casualty, Surety, Marine & Transp. Insupter No.11
Date Filed 05/28/85 Expr Date Supr Date Repeal Date Document Type RULES
Effective May 28, 1985
These rules and regulations governing the submission of property, surety, casualty, marine and transportation insurance policy forms, endorsements and riders are initiated to supplement Sections 26-14-109 and 26-15-110 of the Wyoming Insurance Code. They are promulgated by authority of and pursuant to the Wyoming Administrative Procedure Act (Sections 16-3-101 through 16-3-115) and Section 26-2-110 of the Wyoming Insurance Code.
The purpose of these rules is to establish a uniform procedure for filing of policy forms, endorsements, and riders by individual insurers or by advisory organizations on behalf of an individual insurer.
These rules shall apply to property, casualty, surety (except bonds), marine and transportation insurers or advisory organizations submitting form filings pursuant to Sections 26-14-109 and 26-15-110 of the Wyoming Insurance Code. These rules shall not apply to any assigned risk program.
(a) 'Property insurance' means insurance on any property against loss or damage from any cause and against loss consequential upon that loss or damage, other than noncontractual legal liability for that loss or damage as defined in W.S. 26-5-104.
(b) 'Surety insurance' means a guarantee that a specific obligation will be fulfilled by the principal pursuant to W.S. 26-5-105.
(c) 'Casualty insurance' means the coverage of loss or liability arising from accident, misfortune or mishap as outlined in Section 26-5-106 of the Wyoming Insurance Code.
(d) 'Marine and transportation insurance' means insurance against any kinds of loss or damage to vessels, crafts, aircraft, vehicles, cargoes, effects, disbursements, profits, monies, bullion, etc. as outlined in Section 26-5-107 of the Wyoming Insurance Code.
(a) No basic insurance policy or annuity contract form, or application form if written application is required and is to be made a part of the policy or contract, or printed rider or endorsement form or form of renewal certificate, hereinafter collectively referred to as 'forms,' shall be delivered or issued for delivery in this state unless the form is filed with and approved by the commissioner in accordance with W.S. 26-15-110.
(b) The filing required by W.S. 26-15-110 may be made by an insurance company, or on behalf of an insurance company by a registered advisory organization, in accordance with these rules. No advisory organization may make any filings on its own behalf.
(i) Any insurance company may make individual form filings directly with the Wyoming Insurance Department.
(ii) Any advisory organization may make individual filings on behalf of a single insurance company by submitting the form for filing together with an affidavit from the insurance company which states the advisory organization is authorized to make the form filing on behalf of the insurance company and that the insurance company will make the form available for use in the State of Wyoming under the company's underwriting standards. A separate affidavit is required for each form filed under this section.
(iii) No form is considered filed in accordance with law by a reference to some other approved form of another insurer or an advisory organization. All form filings must be complete in and of themselves.
The commissioner, by order, may exempt from the filing requirements of W.S. 26-15-110 for so long as he deems proper any insurance document or form or type thereof as specified in the order, to which, in his opinion: (1) W.S. 26-15-110 may not practicably be applied; or (2) The filing and approval of which are not desirable or necessary for the public's protection; pursuant to W.S. 26-15-110(d).
(a) Under the authority granted by W.S. 26-15-110(d), the commissioner will issue an order for a period not to exceed one (1) year which will exempt companies and advisory organizations from the provisions of paragraph (b) of Section 5 herein upon compliance with the procedures set forth in this paragraph. Subsequent orders may be obtained.
(b) An advisory organization may submit a form to the Wyoming Insurance Department for conditional approval. No form will be considered filed until and unless it is adopted for use by one or more admitted insurance companies by one of the following two methods:
(i) First Alternative Method. After a form is submitted by an advisory organization for conditional approval and the advisory organization is advised that the form is conditionally approved, any admitted insurance company may adopt the form for use in Wyoming by submitting a certificate executed by an authorized company official that the company is adopting the form (identified by the system approved under paragraph (d) of Section 6) for use in Wyoming; and that the form will be offered in Wyoming.
The certificate must be filed in duplicate. When approved by the department a copy of the certificate will be returned to the insurer with the department's stamp of approval affixed.
(ii) Second Alternative Method. An insurance company which is a member or subscriber of an advisory organization may adopt all or substantially all forms of said advisory organization which are or become conditionally approved in this state by filing a single certificate executed by an authorized company official that the company is adopting all forms conditionally approved except those the company specifically identifies to the Wyoming Insurance Department in writing within 60 days of the date of conditional approval notification to the advisory organization. Said certificate shall attest that the insurance company will make the form available for use in the State of Wyoming, under the company's underwriting standards for the insurance offered under each form, until withdrawn or unless excepted within 60 days as herein provided.
(c) Deviations from conditionally approved advisory organization forms must be individually submitted for department approval in accordance with W.S. 26-15-110 and Section 5 of this regulation section.
(d) No advisory organization shall be eligible to submit forms for conditional approval until the advisory organization shall have established an easily accessible system of referencing the forms as they are adopted by each admitted insurance company, in a manner approved by the commissioner; and no insurance company may adopt a form submitted by an advisory organization for conditional approval until that company has identified, to the commissioner's satisfaction, those forms actually being used or that will be used in Wyoming by the insurance company.
Companies will be expected to offer to Wyoming residents any forms which are filed with the Wyoming Insurance Department. Failure to make the form available, under applicable underwriting standards, will be deemed an unfair trade practice in violation of W.S. 26-13-102, 26-13-104, and 26-13-116. An insurer may withdraw any form for use in Wyoming at any time. Nothing contained herein shall authorize cancellation midterm of any issued policy form.
On or before June 1 in each calendar year, each insurance company having forms filed in Wyoming shall submit a list which sufficiently identifies each form used in Wyoming by the insurer.
Each insurance company shall maintain a file, accessible to the commissioner, containing a list or copy of each form approved for use in Wyoming. Each insurance company and advisory organization shall submit a copy of any form it is using in Wyoming within 10 days after a request by the commissioner.
This regulation shall become effective immediately upon filing with the Secretary of State.