Wyoming § 26-48-202 Risk-based capital reports

Wyoming Statutes

§ 26-48-202 — Risk-based capital reports

Wyoming § 26-48-202

Title 26Insurance Code

Ch. 48RISK-BASED CAPITAL

This text of Wyoming § 26-48-202 (Risk-based capital reports) 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. § 26-48-202 (2026).

Text

(a)A domestic health organization shall, annually on or prior to March 1, prepare and submit to the commissioner a report of its RBC levels as of the end of the calendar year just ended, in a form and containing information as required by the RBC instructions. In addition, every domestic health organization shall file its RBC report:

(i)With the NAIC in accordance with the RBC instructions; and

(ii)With the insurance commissioner in any state in which the health organization is authorized to do business, if the insurance commissioner has notified the health organization of its request in writing, in which case the health organization shall file its RBC report not later than the later of:

(A)Fifteen (15) days from the receipt of notice to file its RBC report with that state; or

(B)Marc

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(a) A domestic health organization shall, annually on or
prior to March 1, prepare and submit to the commissioner a
report of its RBC levels as of the end of the calendar year just
ended, in a form and containing information as required by the
RBC instructions. In addition, every domestic health
organization shall file its RBC report:
(i) With the NAIC in accordance with the RBC
instructions; and
(ii) With the insurance commissioner in any state in
which the health organization is authorized to do business, if
the insurance commissioner has notified the health organization
of its request in writing, in which case the health organization
shall file its RBC report not later than the later of:
(A) Fifteen (15) days from the receipt of notice
to file its RBC report with that state; or
(B) March 1.
(b) A health organization's RBC shall be determined in
accordance with the formula set forth in the RBC instructions
and this article. The formula shall take the following into
account, and may adjust for the covariance between the following
which are determined in each case by applying the factors in the
manner set forth in the RBC instructions:
(i) Asset risk;
(ii) Credit risk;
(iii) Underwriting risk; and
(iv) All other business risks and other relevant
risks as are set forth in the RBC instructions.
(c) If a domestic health organization files an RBC report
which in the judgment of the commissioner is inaccurate, the
commissioner shall adjust the RBC report to correct the
inaccuracy and shall notify the health organization of the
adjustment. The notice shall contain a statement of the reasons
for the adjustment. An RBC report as so adjusted is referred to
as an "adjusted RBC report".
(d) An excess of capital over the amount produced by the
risk-based capital requirements contained in this article and
the formulas, schedules and instructions referenced in this
article is desirable in the business of health insurance.
Accordingly, health organizations should seek to maintain
capital above the RBC levels required by this article.
Additional capital is used and useful in the insurance business
and helps to secure a health organization against various risks
inherent in, or affecting, the business of insurance and not
accounted for or only partially measured by the risk-based
capital requirements contained in this article.