§ 26-3-301 — Scope of article

(a) Every insurer as defined by W.S. 26-1-102(a)(xvi)
shall be subject to this article. Insurers having direct
premiums written in this state of less than one million dollars
($1,000,000.00) in any calendar year and less than one thousand
(1,000) policyholders or certificate holders of direct written
policies nationwide at the end of a calendar year shall be
exempt from this article for that year except an insurer shall
not be exempt if:
(i) The commissioner makes a specific finding that
compliance is necessary for the commissioner to carry out
statutory responsibilities; or
(ii) The insurer has assumed premiums pursuant to
contracts or treaties of reinsurance of one million dollars
($1,000,000.00) or more.
(b) Foreign or alien insurers filing the audited financial
report in another state, pursuant to that state's requirement
for filing of audited financial reports which has been found by
the commissioner to be substantially similar to the requirements
of this article, are exempt from W.S. 26-3-303 through 26-3-312
if:
(i) A copy of the audited financial report,
communication of internal control related matters noted in an
audit and the accountant's letter of qualifications which are
filed with the other state are filed with the commissioner and a
copy of the audited financial report which is on file with the
other state is filed with the National Association of Insurance
Commissioners in accordance with the filing dates specified in
W.S. 26-3-303, 26-3-310 and 26-3-311, respectively. Canadian
insurers may submit accountants' reports as filed with the
office of the superintendent of financial institutions, Canada;
and
(ii) A copy of any notification of adverse financial
condition report filed with the other state is filed with the
commissioner within the time specified in W.S. 26-3-309.
(c) This article shall not prohibit, preclude or in any
way limit the commissioner from ordering or conducting or
performing examinations of insurers under this code or
regulations and the practices and procedures of the department.
(d) Foreign or alien insurers required to file
management's report of internal control over financial reporting
in another state are exempt from filing the report in this state
provided the other state has substantially similar reporting
requirements and the report is filed with the commissioner of
the other state within the time specified.