044-21 Wyo. Code R. §§ 21-8 - Standards for Marketing

(a) An insurer, directly or through its producers, shall:

(i) Establish marketing procedures assuring any policy comparison by its producers will be fair and accurate;

(ii) Establish marketing procedures assuring excessive insurance is not sold or issued, except in the case of group major medical expense coverage and disability income coverage; and

(iii) Establish auditable procedures for verifying compliance with this subsection.

(b) In addition to the practices prohibited in Wyoming Statute § 26-13-101 et seq., the following acts and practices are prohibited:

(i) High Pressure Tactics. Employing marketing methods that effectually induce insurance purchases, or tend to induce insurance purchases, through force, fright, threat (explicit or implied), or undue pressure to purchase or recommend the purchase of insurance; and

(ii) Cold Lead Advertising. Using, directly or indirectly, any marketing method which fails to disclose in a conspicuous manner that a purpose of the marketing method is soliciting insurance and contact will be made by an insurance producer or insurance company.

Notes

044-21 Wyo. Code R. §§ 21-8

Amended, Eff. 7/16/2019.