SF0052

Amends Wyoming insurance code provisions regarding insurer certificates of authority, contact information requirements, service of process, reporting obligations, and policy disclosures.

• Modifies the definition of 'insurance transaction' to distinguish between personal/family transactions (used for certain consumer protection purposes) and all other insurance transactions (used for all other insurance code purposes). (W.S. 26-1-102(a)(xxxix))
• Applies name conflict resolution and capital/surplus requirements that previously applied only to original certificates of authority to all certificates of authority issued to insurers. (W.S. 26-3-106(b), 26-3-108(a), 26-3-112(a), 26-3-114(d), 26-24-109(b), 26-24-110(a))
• Requires all licensed insurers and persons to notify the insurance commissioner of any changes to their address, telephone number, email address, or other contact information within 30 days of the change. (W.S. 26-3-114(e))
• Clarifies service of process requirements by specifying that the commissioner shall mail copies of process to the person currently designated by the insurer to receive service. (W.S. 26-3-122(c))
• Requires licensees to report administrative actions taken against them in other jurisdictions or by other governmental agencies within 30 days of final disposition, and to report criminal prosecutions within 30 days of initial pretrial hearing date, including copies of relevant legal documents. (W.S. 26-9-216(a), 26-9-216(b))
• Clarifies the scope of property and casualty insurance article to exclude binders, temporary contracts for temporary insurance provided under W.S. 26-15-119, and personal lines auto policies. (W.S. 26-35-201)
• Repeals the requirement for insurers to deliver certificates of authority to the insurance commissioner upon expiration, suspension, or termination of certificates. (W.S. 26-3-113(c), Section 2)
• Repeals disclosure requirements regarding the extent to which disability, group disability, and blanket disability insurance policies include comprehensive adult wellness benefits. (W.S. 26-18-103(a)(ix), 26-18-103(b), 26-19-107(a)(xvii), 26-19-107(h), Section 2)