§ 26-37-104 — Mechanical breakdown insurers; authorization required; application; fee; issuance; renewal; revocation and suspension

Wyoming § 26-37-104

• Jurisdiction: Wyoming
• Title 26: Insurance Code
• Ch. 37: MECHANICAL BREAKDOWN INSURANCE

Text

(a) Any person holding a subsisting certificate of
authority to transact casualty insurance in this state may apply
to the commissioner for authorization to transact mechanical
breakdown insurance in this state as a mechanical breakdown
insurer.
(b) Application under subsection (a) of this section shall
include:
(i) The name and address of the applicant;
(ii) Copies of any subsisting certificates of
authority held by the applicant to transact casualty insurance
in this state;
(iii) Copies of all policy forms to be used by the
applicant;
(iv) A statement delineating the marketing and claims
procedures to be used by the applicant along with copies of all
relevant forms.
(c) A fee of one hundred dollars ($100.00) shall accompany
the application under subsection (b) of this section.
(d) The commissioner shall:
(i) Review the application;
(ii) Notify the applicant of his approval or
rejection of the application; and
(iii) Issue a certificate of authority if
appropriate.
(e) A certificate of authority is renewable annually
unless sooner revoked or suspended.
(f) Mechanical breakdown insurers shall comply with all
other provisions of this code relating to the transaction of
insurance as an insurer.
(g) The commissioner may revoke or suspend a certificate
of authority for any reason enumerated in chapter 3 of this
code, following the procedures for hearings in chapter 2 of this
code.