Wyoming Statutes

Wyo. Stat. § 26-31-112 (2026)

Aids in detection and prevention of insurer

✓ current as of May 2026
Find cases: SyfertCases citing this section WY-LEGwyoleg.gov JustiaTitle on Justia CornellLII Search CasesGoogle Scholar
insolvencies.

     (a) To aid in the detection and prevention of insurer
insolvencies:

         (i)    The board of directors shall:

               (A) Upon majority vote, notify the commissioner
of any information indicating any member insurer may be
insolvent or in a financial condition hazardous to the
policyholders or the public;

               (B) At the conclusion of any insurer insolvency
in which the association is obligated to pay covered claims,
prepare and submit to the commissioner, a report on the history
and causes of the insolvency as determined by the available
information.

         (ii)     The board of directors, upon majority vote, may:

               (A) Request that the commissioner order an
examination, as specified in subsection (b) of this section of
any member insurer which the board in good faith believes may be
in a financial condition hazardous to the policyholders or the
public;

               (B) Make reports and recommendations to the
commissioner upon any matter germane to the solvency,
liquidation, rehabilitation or conservation of any member
insurer, and the reports and recommendations are not public
documents;

               (C) Make recommendations to the commissioner for
the detection and prevention of insurer insolvencies.
          (iii) It is the commissioner's duty to report to the
board of directors when he has reasonable cause to believe that
any member insurer examined or being examined at the board of
directors' request may be insolvent or in a financial condition
hazardous to the policyholders or the public.

     (b) Within thirty (30) days from the date of receipt of a
request for examination as specified in subparagraph (a)(ii)(A)
of this section, the commissioner shall begin the examination.
The examination may be conducted as a National Association of
Insurance Commissioners' examination or may be conducted by any
qualified persons the commissioner designates. The cost of the
examination shall be paid by the association, and the
examination report shall be treated as are other examination
reports. The examination report shall not be released to the
board of directors prior to its release to the public, but this
does not preclude the commissioner from complying with paragraph
(a)(iii) of this section. The commissioner shall notify the
board of directors when the examination is completed. The
request for an examination shall be kept on file by the
commissioner but it shall not be open to public inspection prior
to the release of the examination report to the public.
Notes of Decisions
Cited in 2 cases, 1992–1994 · leading case: Wyoming Ins. Guar. Ass'n v. Woods, 888 P.2d 192 (Wyo. 1994).
Wyoming Ins. Guar. Ass'n v. Woods, 888 P.2d 192 (Wyo. 1994). · cites it 2× “Wyo. Stat. § 26-31-112. The purpose of the Act is to provide a mechanism for the payment of covered claims which avoids excessive delay in payment and avoids financial loss to claimants or insureds because of the insolvency of an insurer.”
Wyoming Ins. Guar. Ass'n v. Allstate Indem. Co., 844 P.2d 464 (Wyo. 1992). “26-31-107 assess insurers’ amounts necessary to pay the association’s obligations under paragraph (i) of this subsection, subsequent to an insolvency, the expenses of handling covered claims subsequent to an insolvency, the cost of examinations under W.S. 26-31-112 and any other…”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.