Wyo. Code R. 044-0002-14
Effective Date: 08/03/1973 to 12/31/1996
Rule Type: Superceded Rules & Regulations
Reference Number: 044.0002.14.08031973
Effective August 21, 1973
These rules are promulgated under Sections 26-2-110 and 26-14-101 through 26-14-138 of the Wyoming Statutes 1977, as amended; and in accordance with Wyoming Administrative Procedure Act Section 9-4-103.
Chapter III, Section 3 of the Insurance Department Regulations entitled 'Individual Risk Premium Modification Plans--Wyoming' dated May 1, 1964, is repealed, and Chapter XIV.1 is enacted.
Individual risk modification plans pertaining to Fire and Allied lines, Inland Marine, Multi-Peril (excluding auto), and Fidelity (excluding surety) filed with the Wyoming Insurance Department shall include the standards upon which any such modification is to be based.
Risk modification means the application of judgment debits and credits to the risk rate or premium which has been developed through use of a base rate or class rate and modified by experience rating plans, multiple location rating plans, package discounts where applicable, and other similar approved rating plans.
In applying expenses and risk modification, like consideration shall be given to all risks with substantially similar conditions.
This resolution shall become effective 20 days after filing a certified copy hereof with the Wyoming Secretary of State.