Wyoming Statutes

§ 26-14-111 — Insurers and advisory organizations; monopolies prohibited; agreements to adhere prohibited

Wyoming § 26-14-111
JurisdictionWyoming
Title 26Insurance Code
Ch. 14RATES AND RATING ORGANIZATIONS

This text of Wyoming § 26-14-111 (Insurers and advisory organizations; monopolies prohibited; agreements to adhere prohibited) is published on Counsel Stack Legal Research, covering Wyoming primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Wyo. Stat. Ann. § 26-14-111 (2026).

Text

(a)No insurer or advisory organization shall attempt to monopolize or combine or conspire with any other person to monopolize an insurance market in this state.
(b)Except as otherwise provided in this chapter, no insurer shall agree with any other insurer, rate service organization or advisory organization to adhere to or use any rate, supplementary rate information, policy surveys, inspections or similar material.
(c)The fact that two (2) or more insurers, whether or not members or subscribers of any advisory organization, use consistently or intermittently the same rates, supplementary rate information, policy or bond forms, surveys, inspections or similar materials is not sufficient in itself to support a finding that an illegal agreement exists and may be used only for the purpose o

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Nearby Sections

15
§ 26-14-103
Definitions
§ 26-14-106
Rate regulation
§ 26-14-110
It does not include joint underwriting organizations, actuarial or legal consultants, a single insurer, any employees of an insurer or insurers under common control or management of their employees or managers; (ii) "Competitive market" means any market except those which are noncompetitive pursuant to this chapter; (iii) "Excessive" means a rate that is likely to produce a long-term profit that is unreasonably high for the insurance provided. In a competitive market rates shall not be considered excessive; (iv) "Inadequate" means a rate which is unreasonably low for the insurance provided and the continued use of which endangers the solvency of the insurer using it or will have the effect of substantially lessening competition or creating a monopoly in any market; (v) "Joint underwriting" means an arrangement established to provide insurance coverage for a risk, pursuant to which two (2) or more insurers contract with the insured for a price and policy terms agreed upon between or among the insurers; (vi) "Market" means the statewide interaction between buyers and sellers in the procurement of a line of insurance coverage pursuant to the provisions of this chapter; (vii) "Noncompetitive market" means: (A) Residual markets; (B) Pools; (C) Credit property insurance, including vendors' single interest physical damage insurance where the buyer pays a separate charge for insurance; or (D) Any market in which: (I) There are less than five (5) insurers actually issuing a particular line of insurance as determined by the commissioner; (II) Three (3) insurers transact more than ninety percent (90%) of the business; (III) Two (2) insurers transact more than eighty percent (80%) of the business; or (IV) There is reasonable evidence, as determined by the commissioner, of collusion among insurers in setting prices
§ 26-14-114
Exemptions
§ 26-14-115
Dividends
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Bluebook (online)
Wyoming § 26-14-111, Counsel Stack Legal Research, https://law.counselstack.com/statute/wy/14/26-14-111.