Section 26-54-102 – Definitions.
26-54-102. Definitions. (a) As used in this act: (i) “Corporate governance” means the system of rules, practices and procedures by which a corporation is managed by its directors and officers; (ii) “Corporate governance annual disclosure” or “CGAD” means a confidential report filed by an insurer or insurance group in accordance with the requirements of this […]
Section 26-54-103 – Disclosure Requirement.
26-54-103. Disclosure requirement. (a) An insurer, or the insurance group of which the insurer is a member, shall, no later than June 1 of each calendar year, submit to the commissioner a corporate governance annual disclosure that contains the information described in W.S. 26-54-105. Notwithstanding any request from the commissioner made pursuant to subsection (c) […]
Section 26-54-104 – Rules and Regulations.
26-54-104. Rules and regulations. The commissioner shall promulgate rules and regulations necessary to carry out the provisions of this act. The rules and regulations shall be consistent with this act and the commissioner shall be guided by the model regulations adopted by the National Association of Insurance Commissioners at its 2014 fall national meeting and […]
Section 26-54-105 – Contents of Corporate Governance Annual Disclosure.
26-54-105. Contents of corporate governance annual disclosure. (a) An insurer or insurance group shall have discretion over the manner in which a CGAD is submitted, provided the CGAD shall contain the material information necessary to permit the commissioner to gain an understanding of the insurer’s or insurance group’s corporate governance structure, policies and practices. The […]
Section 26-54-106 – Confidentiality.
26-54-106. Confidentiality. (a) Documents, materials or other information, including the CGAD, in the possession or control of the department that are obtained by, created by or disclosed to the commissioner or any other person under this act, are recognized by this state as being proprietary and to contain trade secrets. All the documents, materials or […]
Section 26-54-107 – Naic and Third Party Consultants.
26-54-107. NAIC and third party consultants. (a) The commissioner may retain, at the insurer’s expense, third party consultants, including attorneys, actuaries, accountants and other experts not otherwise a part of the commissioner’s staff, as may be reasonably necessary to assist the commissioner in reviewing the CGAD and related information submitted by an insurer or to […]
Section 26-54-108 – Sanctions.
26-54-108. Sanctions. Any insurer failing, without just cause, to timely file the CGAD required by this act shall be required, after notice and hearing, to pay a penalty of one hundred dollars ($100.00) for each day that the CGAD is not filed, to be recovered by the commissioner. The maximum penalty due under this section […]
Section 26-52-104 – Maximum Allowable Cost; Offering Information and Alternatives.
26-52-104. Maximum allowable cost; offering information and alternatives. (a) To place a drug on a maximum allowable cost list, a pharmacy benefit manager shall ensure that the drug is: (i) Rated “A” or “B” in the most recent version of the United States Food and Drug Administration’s Approved Drug Products with Therapeutic Equivalence Evaluations (Orange […]
Section 26-53-101 – Definitions.
26-53-101. Definitions. (a) As used in this chapter: (i) “Third party administrator” means a person who directly or indirectly underwrites, collects charges, collateral or premiums from, or adjusts or settles claims on residents of this state, in connection with life, annuity, health, or stop-loss coverage offered or provided by an insurer, but does not include […]
Section 26-53-102 – Registration of Third Party Administrators; Rulemaking Authority.
26-53-102. Registration of third party administrators; rulemaking authority. No person shall act as a third party administrator in this state without a certificate of registration issued by the commissioner. The commissioner in compliance with the Wyoming Administrative Procedure Act shall promulgate reasonable rules and regulations necessary to implement this chapter.