044-20 Wyo. Code R. §§ 20-2 - Definitions
Terms used in this Chapter have the following meanings:
(a) "Certificate of
completion" means a document signed by the instructor (or other designated
person) of a certified course which signifies satisfactory completion of the
course and reflects hours of credit earned.
(b) "Certified course" means an educational
presentation offered in a class, seminar, independent study, or similar form of
instruction involving insurance fundamentals, insurance-related law, insurance
policies, claims and coverages, insurance needs and product changes, insurance
risk management, etc., which is approved by the commissioner pursuant to
Section
9 of this Regulation.
(c) "Classroom" means an organized setting
where a group of persons are physically located and instructed.
(d) "Contact hours" means the number of hours
of instruction or participation in the classroom, webinar, or self-study
program.
(e) "Ethics" means
instruction in the customs among members of the insurance profession involving
their moral and professional duties toward one another, toward clients, toward
insureds, and toward insurers. It may include, but is not limited to, fiduciary
responsibility, commingling funds, paying and accepting commissions, unfair
claims practices, professionalism, policy replacement consideration, handling
or supervising the affairs or funds of another and conflicts of
interest.
(f) "Good cause" means
reasons for not timely complying with the requirements of this regulation
including disability, death of an immediate family member, natural disaster or
other extenuating circumstances.
(g) "Licensee" means persons who are required
to be licensed under the Wyoming insurance code including resident insurance
producers, title agents, adjusters, and designated Wyoming home state
non-resident adjusters.
(h)
"Carry-over credit hour" means a credit hour earned during the one hundred
twenty (120) days before the licensing continuation date in excess of the
twenty-four (24) hours of continuing education required per two (2) year
licensing period, which may be applied to the next continuing education period.
Any carry-over credit hours may not count as ethics hours.
(i) "Disinterested third party" means someone
who is not:
(i) A minor;
(ii) A relative of the licensee;
(iii) An immediate supervisor or subordinate
of the licensee; or
(iv) A person
with an economic or other interest in ensuring the successful outcome of a
competency examination.
(j) "Self-study program" means a course that
involves book study, video study, computer based training, or other means of
training and education where a qualified instructor is not present. Self-study
programs must include an examination, which is to be monitored by a
disinterested third-party.
(k)
"Webinar" means any course offered by live video conference or webcast if the
technology allows for communication between and among the participants and
their instructor and the participant's attendance and participation are
monitored. Participation shall be verified by the instructor, who shall ask no
fewer than three (3) polling questions every hour.
Notes
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