(a)All policies, certificates of insurance, notices of
proposed insurance, applications for insurance, endorsements and
riders delivered or issued for delivery in this state and the
schedule of premium rates pertaining thereto shall be filed with
the commissioner.
(b)The commissioner, within thirty (30) days after the
filing of any such policies, certificates of insurance, notices
of proposed insurance, applications for insurance, endorsements
and riders, shall disapprove any such form if the premium rates
charged or to be charged are excessive in relation to benefits,
or if it contains provisions which are unjust, unfair,
inequitable, misleading, deceptive or encourage
misrepresentation of the coverage, or are contrary to any
provision of this code or of any rule or regulation promulgat
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(a) All policies, certificates of insurance, notices of
proposed insurance, applications for insurance, endorsements and
riders delivered or issued for delivery in this state and the
schedule of premium rates pertaining thereto shall be filed with
the commissioner.
(b) The commissioner, within thirty (30) days after the
filing of any such policies, certificates of insurance, notices
of proposed insurance, applications for insurance, endorsements
and riders, shall disapprove any such form if the premium rates
charged or to be charged are excessive in relation to benefits,
or if it contains provisions which are unjust, unfair,
inequitable, misleading, deceptive or encourage
misrepresentation of the coverage, or are contrary to any
provision of this code or of any rule or regulation promulgated
under this code. In determining whether to disapprove any form
the commissioner shall consider past and prospective loss
experience within and outside this state, underwriting practice
and judgment to the extent appropriate and any other relevant
factors within and outside this state.
(c) If the commissioner notifies the insurer that the form
is disapproved, it is unlawful for the insurer to issue or use
that form. The commissioner shall specify in the notice the
reason for his disapproval and state that a hearing will be
granted within twenty (20) days after request in writing by the
insurer. No policy, certificate of insurance, notice of proposed
insurance, application, endorsement or rider shall be issued or
used until the expiration of thirty (30) days after it is filed,
unless the commissioner gives his prior written approval
thereto.
(d) The commissioner, at any time after a hearing held not
less than twenty (20) days after written notice to the insurer,
may withdraw his approval of any form on any ground set forth in
subsection (b) of this section. The written notice of hearing
shall state the reason for the proposed withdrawal.
(e) The insurer shall not issue or use any form after the
effective date of withdrawal.
(f) If a group policy of credit life insurance or credit
disability insurance is delivered in another state, the insurer
shall file only the group certificate and notice of proposed
insurance delivered or issued for delivery in this state as
specified in W.S. 26-21-107(b) and (d). The commissioner shall
approve the forms if they conform with the requirements
specified in W.S. 26-21-107(b) and (d) and if the schedules of
premium rates applicable to the insurance evidenced by the
certificate or notice are not in excess of the insurer's
schedules of premium rates filed with the commissioner.