Wyoming § 26-45-102 Definitions

Wyoming Statutes

§ 26-45-102 — Definitions

Wyoming § 26-45-102

Title 26Insurance Code

Ch. 45BROKER CONTROLLED INSURERS

This text of Wyoming § 26-45-102 (Definitions) is published on Counsel Stack Legal Research, covering Wyoming primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wyo. Stat. Ann. § 26-45-102 (2026).

Text

(a)As used in this article:

(i)"Accredited state" means a state in which the insurance department or regulatory agency has qualified as meeting the minimum financial regulatory standards promulgated and established by the National Association of Insurance Commissioners;

(ii)"Broker" means an insurance broker as defined in W.S. 26-1-102(a)(vi) or any other person, firm, association or corporation, when, for any compensation, commission or other thing of value, the person, firm, association or corporation acts or aids in any manner in soliciting, negotiating or procuring the making of any insurance contract on behalf of an insured other than the person, firm, association or corporation;

(iii)"Control" or "controlled" means as defined in W.S. 26-44-101(a)(iii);

(iv)"Controlled insurer" m

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(a) As used in this article:
(i) "Accredited state" means a state in which the
insurance department or regulatory agency has qualified as
meeting the minimum financial regulatory standards promulgated
and established by the National Association of Insurance
Commissioners;
(ii) "Broker" means an insurance broker as defined in
W.S. 26-1-102(a)(vi) or any other person, firm, association or
corporation, when, for any compensation, commission or other
thing of value, the person, firm, association or corporation
acts or aids in any manner in soliciting, negotiating or
procuring the making of any insurance contract on behalf of an
insured other than the person, firm, association or corporation;
(iii) "Control" or "controlled" means as defined in
W.S. 26-44-101(a)(iii);
(iv) "Controlled insurer" means a licensed insurer
which is controlled, directly or indirectly, by a broker;
(v) "Controlling broker" means a broker who, directly
or indirectly, controls an insurer;
(vi) "Independent casualty actuary" means a casualty
actuary who is a member in good standing of the American Academy
of Actuaries and who is not an employee, principal, or indirect
owner of, or in any way controlled by or affiliated with the
insurer or broker;
(vii) "Licensed insurer" means any person duly
licensed to transact a property or casualty insurance business
in this state. The following are not licensed insurers for the
purposes of this article:
(A) Risk retention groups as defined in the
Wyoming Risk Retention Act;
(B) Residual market pools and joint underwriting
authorities or associations; and
(C) Captive insurers. For purposes of this
article, captive insurers are insurance companies owned by
another organization and whose exclusive purpose is to insure
risks of the parent organization and affiliated companies or, in
the case of groups and associations, insurance organizations
owned by the insureds whose exclusive purpose is to insure risks
of member organizations or group members and their affiliates.