§ 26-14-109 — Advisory organizations; registration required; authorized activities; availability of services

Wyoming § 26-14-109

• Jurisdiction: Wyoming
• Title 26: Insurance Code
• Ch. 14: RATES AND RATING ORGANIZATIONS

Text

(a) No advisory organization shall provide any service
relating to the rates of any insurer subject to this chapter,
and no insurer shall utilize the services of such organization
for such purposes unless the organization has registered under
subsection (d) of this section.
(b) A registered advisory organization may perform any of
the following activities:
(i) Develop statistical plans including territorial
and class definitions;
(ii) Collect statistical data from members,
subscribers or any other source;
(iii) Prepare and distribute pure premium data,
adjusted for loss development and loss trending, in accordance
with its statistical plans, and prepare and distribute rates
including expenses and profits;
(iv) Prepare and distribute manuals of rating rules
and rating schedules;
(v) Distribute information that is filed with the
commissioner and open to public inspection;
(vi) Conduct research and on-site inspections in
order to prepare classifications of public fire defenses;
(vii) Consult with public officials regarding public
fire protection as it would affect members, subscribers and
others;
(viii) Conduct research and collect statistics in
order to discover, identify and classify information relating to
causes or prevention of losses;
(ix) Prepare and file on behalf of an insurer policy
forms and endorsements and consult with members, subscribers and
others relative to their use and application;
(x) Conduct research and on-site inspections for the
purpose of providing risk information relating to individual
structures;
(xi) Collect, compile and distribute past and current
prices of individual insurers if such information is made
available to the general public;
(xii) Notwithstanding any other provision of law,
advisory organizations may perform those activities allowed
under W.S. 26-23-301 through 26-23-333.
(c) Repealed by Laws 1987, ch. 195, § 2.
(d) No advisory organization shall refuse to supply any
authorized services for which it is registered in this state to
any insurer authorized to do business in this state and offering
to pay the fair and usual compensation for the services, nor
shall an advisory organization require the purchase of any
specific services as a condition to obtaining the services
sought, provided the furnishing of the requested services does
not place an unreasonable burden on the advisory organization.
(e) An advisory organization shall submit at the time of
registration:
(i) A copy of its constitution, articles of
association or incorporation, bylaws and any other rules or
regulations governing the conduct of its business;
(ii) A list of its members and subscribers;
(iii) The name and address of one (1) or more
residents of this state upon whom notices, process affecting it
or on orders of the commissioner may be served;
(iv) Any other relevant information and documents
that the commissioner may require.
(f) Every organization which has registered shall promptly
notify the commissioner of every material change in the facts or
in the documents on which its registration was based.