§ 26-15-117 — Underwriters' and combination policies

Wyoming § 26-15-117

• Jurisdiction: Wyoming
• Title 26: Insurance Code
• Ch. 15: THE INSURANCE CONTRACT

Text

(a) Two (2) or more authorized insurers may jointly issue,
and are jointly and severally liable on, an underwriters' policy
bearing their names. Any insurer may issue a policy in the name
of an underwriters' department, and the policy shall plainly
show the insurer's true name.
(b) Two (2) or more insurers, with the commissioner's
approval, may issue a combination policy which shall contain
provisions substantially as follows:
(i) That the insurers executing the policy are
severally liable for the full amount of any loss or damage,
according to the terms of the policy, or for specified
percentages or amounts thereof, aggregating the full amount of
insurance under the policy; and
(ii) That service of process or of any notice or
proof of loss required by the policy, upon any of the insurers
executing the policy, constitutes service upon all the insurers.
(c) This section does not apply to cosurety obligations.