§ 26-44-120 — Authorized use of and prohibited statements regarding group capital calculations, liquidity stress tests and related information

Wyoming § 26-44-120

• Jurisdiction: Wyoming
• Title 26: Insurance Code
• Ch. 44: INSURANCE HOLDING COMPANY SYSTEM REGULATORY ACT

Text

(a) The group capital calculation, including the group
capital ratio produced within the calculation, that is required
to be reported under W.S. 26-44-104(p) and the liquidity stress
test along with its results and supporting disclosures required
under W.S. 26-44-104(q) may be used as regulatory tools for
assessing group risks and capital adequacy and group liquidity
risks, respectively, but shall not be used to rank insurers or
insurance holding company systems generally.
(b) Except as authorized in subsection (d) of this section
or as otherwise required in this act, a person shall not engage
in the making, publishing, disseminating, circulating or placing
before the public, or causing directly or indirectly to be made,
published, disseminated, circulated or placed before the public
in a newspaper, magazine or other publication, or in the form of
a notice, circular, pamphlet, letter or poster, or over any
radio or television station or any electronic means of
communication available to the public, or in any other way an
advertisement, announcement or statement containing a
representation or statement with regard to the group capital
calculation, group capital ratio, liquidity stress test results,
or supporting disclosures for the liquidity stress test of any
insurer or any insurer group, or any component derived in the
calculation by any insurer, broker or other person engaged in
any manner in the insurance business.
(c) Any action prohibited under subsection (b) of this
section shall be deemed by the commissioner to be misleading.
(d) If any materially false statement with respect to the
group capital calculation, group capital ratio, liquidity stress
test result or supporting disclosures for the liquidity stress
test or an inappropriate comparison of any amount to an
insurer's or insurance group's group capital calculation, group
capital ratio, liquidity stress test result or supporting
disclosures is published in any written publication and the
insurer is able to demonstrate to the commissioner with
substantial proof the falsity of the statement or the
inappropriateness of the comparison, then the insurer may
publish announcements in a written publication if the sole
purpose of the announcement is to rebut the materially false
statement or inappropriate comparison.