(a)As used in this act "liability policy" means an
owner's or an operator's policy of liability insurance,
certified as provided in W.S. 31-9-403 or 31-9-404 as proof of
financial responsibility, and issued, except as otherwise
provided in W.S. 31-9-404, by an insurance carrier authorized to
transact business in this state, to or for the benefit of the
person named as insured.
(b)An owner's policy of liability insurance shall:
(i)Designate by explicit description or by
appropriate reference all motor vehicles with respect to which
coverage is to be granted; and
(ii)Insure the person named and, except for persons
specifically excluded pursuant to W.S. 26-35-105, any other
person, as insured, using any covered motor vehicle with the
express or implied permission of the named insured agai
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(a) As used in this act "liability policy" means an
owner's or an operator's policy of liability insurance,
certified as provided in W.S. 31-9-403 or 31-9-404 as proof of
financial responsibility, and issued, except as otherwise
provided in W.S. 31-9-404, by an insurance carrier authorized to
transact business in this state, to or for the benefit of the
person named as insured.
(b) An owner's policy of liability insurance shall:
(i) Designate by explicit description or by
appropriate reference all motor vehicles with respect to which
coverage is to be granted; and
(ii) Insure the person named and, except for persons
specifically excluded pursuant to W.S. 26-35-105, any other
person, as insured, using any covered motor vehicle with the
express or implied permission of the named insured against loss
from the liability imposed by law for damages arising out of the
ownership, maintenance or use of the motor vehicle within the
United States of America or the Dominion of Canada, subject to
limits exclusive of interest and costs with respect to each
motor vehicle, as follows: twenty-five thousand dollars
($25,000.00) because of bodily injury to or death of one (1)
person in any one (1) accident and, subject to the limit for one
(1) person, fifty thousand dollars ($50,000.00) because of
bodily injury to or death of two (2) or more persons in any one
(1) accident and twenty thousand dollars ($20,000.00) because of
injury to or destruction of property of others in any one (1)
accident.
(c) An operator's policy of liability insurance shall
insure the person named as insured against loss from the
liability imposed upon him by law for damages arising out of the
use by him of any motor vehicle not owned by him, within the
same territorial limits and subject to the same limits of
liability as provided by subsection (b) of this section.
(d) The motor vehicle liability policy shall state the
name and address of the named insured, the coverage afforded by
the policy, the premium charged therefor, the policy period and
the limits of liability, and shall contain an agreement or be
endorsed that insurance is provided in accordance with the
coverage defined in this act as respects bodily injury and death
or property damage, or both, and is subject to all the
provisions of this act.
(e) The motor vehicle liability policy shall not insure
any liability under any worker's compensation law nor any
liability on account of bodily injury to or death of an employee
of the insured while engaged in the employment, other than
domestic, of the insured, or while engaged in the operation,
maintenance or repair of any motor vehicle nor any liability or
damage to property owned by, rented to, in charge of or
transported by the insured.
(f) Every motor vehicle liability policy is subject to the
following provisions which need not be contained therein:
(i) The liability of the insurance carrier with
respect to the insurance required by this act shall become
absolute whenever injury or damage covered by the motor vehicle
liability policy occurs. The policy may not be cancelled or
annulled as to the liability by any agreement between the
insurance carrier and the insured after the occurrence of the
injury or damage. No statement made by the insured or on his
behalf and no violation of the policy shall defeat or void the
policy;
(ii) The satisfaction by the insured of a judgment
for injury or damage shall not be a condition precedent to the
right or duty of the insurance carrier to make payment on
account of the injury or damage;
(iii) The insurance carrier may settle any claim
covered by the policy, and if settlement is made in good faith,
the amount thereof shall be deductible from the limits of
liability specified in paragraph (b)(ii) of this section;
(iv) The policy, the written application therefor, if
any, and any rider or endorsement which does not conflict with
this act shall constitute the entire contract between the
parties.
(g) Any policy which grants the coverage required for a
motor vehicle liability policy may also grant any lawful
coverage in excess of or in addition to the coverage specified
for a motor vehicle liability policy and the excess or
additional coverage is not subject to this act. With respect to
a policy which grants excess or additional coverage the
"liability policy" shall apply only to that part of the coverage
which is required by this section.
(h) Any motor vehicle liability policy may provide that
the insured shall reimburse the insurance carrier for any
payment the insurance carrier would not have been obligated to
make under the terms of the policy except for the provisions of
this act.
(j) Any motor vehicle liability policy may provide for the
prorating of the insurance thereunder with other valid and
collectible insurance.
(k) The requirements for a motor vehicle liability policy
may be fulfilled by the policies of one (1) or more insurance
carriers which policies together meet the requirements.
(m) Any binder issued pending the issuance of a motor
vehicle liability policy shall be deemed to fulfill the
requirements for the policy.