044-11 Wyo. Code R. §§ 11-4 - Alternative Filing Procedures

(a) An advisory organization may submit a form to the Commissioner for conditional approval. No form will be considered filed 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 (c) of this Section for use in Wyoming; and that the form will be offered in Wyoming.

(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 the 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. The certificate shall attest that the insurance company will make the form available for use in Wyoming under the company's underwriting standards for the insurance offered under each form, until withdrawn or unless accepted within 60 days as provided here.

(b) Deviations from conditionally approved advisory organization forms must be individually submitted for department approval in accordance with W.S. § 26-15-110 and Section 3 of this regulation.

(c) 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. 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.

Notes

044-11 Wyo. Code R. §§ 11-4

Amended, Eff. 2/21/2018.