044-21 Wyo. Code R. §§ 21-16 - Introductory, Initial or Special Offers

(a) An advertisement of an individual policy shall not directly or by implication represent that a contract or combination of contracts is an introductory, initial, or special offer, that applicants will receive substantial advantages not available at a later date, or that the offer is available only to a specified group of individuals, unless that is the fact. An advertisement shall not contain phrases describing an enrollment period as "special," "limited," or similar words or phrases when the insurer uses the enrollment periods as the usual method of marketing accident and sickness insurance.

(b) An enrollment period included in limited health benefit plans during which a particular insurance product may be purchased on an individual basis shall not be offered within Wyoming unless there has been a lapse of not less than twenty-four (24) months between the close of the immediately preceding enrollment period for the same product and the opening of the new enrollment period. The advertisement shall indicate the date by which the applicant must mail the application, which shall not be less than ten (10) days and not more than forty (40) days from the date the enrollment period is advertised for the first time. This regulation applies to all advertising media, i.e., mail, newspapers, the Internet, radio, television, magazines and periodicals, by any one insurer. It is inapplicable to solicitations of employees or members of a particular group or association otherwise eligible under specific provisions of the Insurance Code for group, blanket, or franchise insurance. The phrase "any one insurer" includes all affiliated companies of a group of insurance companies under common management or control.

(i) The phrase "a particular insurance product" means an insurance policy providing substantially different benefits than those contained in any other policy. Different terms of renewability; an increase or decrease in the dollar amounts of benefits; and an increase or decrease in any elimination period or waiting period from those available during an enrollment period for another policy are not sufficient to constitute the product being offered as a different product eligible for concurrent or overlapping enrollment periods.

(c) Any statement or implication to the effect that only a specific number of policies will be sold or that a time is fixed for the discontinuance of the sale of the particular policy advertised because of special advantages available in the policy is prohibited, unless that is the fact.

(d) An advertisement shall not offer a policy utilizing a reduced initial premium rate in a manner that overemphasizes the availability and amount of the initial reduced premium. When an insurer charges an initial premium that differs in amount from the amount of the renewal premium payable on the same mode, the advertisement shall not display the amount of the reduced initial premium either more frequently or more prominently than the renewal premium, and both the initial reduced premium and the renewal premium must be stated in juxtaposition in each portion of the advertisement where the initial reduced premium appears.

(e) Special awards, such as a "safe driver's award," shall not be used in connection with advertisements of accident and sickness insurance.

Notes

044-21 Wyo. Code R. §§ 21-16

Amended, Eff. 7/16/2019.