§ 26-3-118 — Suspension, revocation of certification of authority; duration of suspension; reinstatement

Wyoming § 26-3-118

• Jurisdiction: Wyoming
• Title 26: Insurance Code
• Ch. 3: AUTHORIZATION OF INSURERS AND

Text

(a) Suspension of an insurer's certificate of authority
shall be for the period the commissioner specifies in the order
of suspension, but not to exceed one (1) year. During the
suspension period the commissioner may rescind or shorten the
suspension by further order.
(b) During the suspension period the insurer shall not
solicit or write any new business in this state but shall file
its annual statement, pay fees, licenses and taxes as required
under this code and may service its business already in force in
this state as if the certificate of authority had continued in
full force.
(c) Upon expiration of the suspension period, if within
that period the certificate of authority has not terminated, the
insurer's certificate of authority is automatically reinstated
unless the commissioner finds that the causes of the suspension,
other than a discontinued violation, have not terminated, or
that the insurer is otherwise not in compliance with the
requirements of this code, and of which the commissioner shall
give the insurer notice not less than thirty (30) days in
advance of expiration of the suspension period. If not
automatically reinstated, the certificate of authority
terminates at the end of the suspension period.
(d) Upon reinstatement of the insurer's certificate of
authority, the authority of its agents in this state to
represent the insurer also reinstate. The commissioner shall
promptly notify the insurer and its agents in this state, of
record in the department, of reinstatement. If pursuant to W.S.
26-3-117(c) the commissioner has published notice of suspension
of the insurer's certificate of authority, he shall also publish
notice of reinstatement.