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SF0054 • 2011

Disability insurance rates-notice.

AN ACT relating to insurance; requiring notification when disability insurance premium rates are set to maintain a surplus exceeding six months of claims expenses; requiring notification when disability insurers maintain a surplus exceeding six months of claims expenses; and providing for an effective date.

Inactive

Wyoming marks this bill as inactive, which usually means it is no longer moving in the current session.

Sponsor
Senator Schiffer
Last action
2011-03-02
Official status
inactive
Effective date
Not listed

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Bill History

  1. 2011-03-02 House

    H Committee Returned Bill Pursuant to HR 4-3(c)

  2. 2011-02-01 House

    H Introduced and Referred to H07; No Report Prior to CoW Cutoff

  3. 2011-01-25 House

    H Received for Introduction

  4. 2011-01-25 Senate

    S Passed 3rd Reading

  5. 2011-01-24 Senate

    S Passed 2nd Reading

  6. 2011-01-21 Senate

    S Passed CoW

  7. 2011-01-20 Senate

    S Placed on General File

  8. 2011-01-20 Senate

    S07 Recommended Do Pass

  9. 2011-01-12 Senate

    S Introduced and Referred to S07

  10. 2011-01-11 Senate

    S Received for Introduction

  11. 2011-01-04 LSO

    Bill Number Assigned

Current Bill Text

Read the full stored bill text 
WORKING DRAFT
2011
STATE OF
WYOMING
11LSO-0350

SENATE FILE
NO.
SF0054

Disability
insurance rates-notice.

Sponsored by:
Senator(s) Schiffer and Representative(s) Shepperson

A BILL

for

AN ACT relating to
insurance; requiring notification when disability insurance premium rates are set to
maintain a surplus exceeding
six months of claims
expenses
; requiring notification when disability insurers
maintain
a surplus
exceeding
six months of claims
expenses
;
and providing for an effective date.

Be It Enacted by the Legislature of the State of
Wyoming
:

Section 1.

W.S. 26
‑
18
‑
135 is amended to read:

26
‑
18
‑
135.

Filing of rates; adherence to rates filed; notice.

(a)

Each insurer issuing disability insurance policies for delivery in this state, before use thereof, shall file with the commissioner its premium rates and classification of risks pertaining to the policies. The insurer shall adhere to its rates and classifications as filed with the commissioner. The insurer may change the filings as it deems proper.

(b)

Each insurer issuing disability insurance
policies
for
d
elivery in this state shall notify the insureds and the commissioner:

(i)

When premium rates are set to
maintain surplus levels in
excess of six (6) months of
average claims expenses
;
or

(ii)

When the insurer maintains a surplus exceeding six (6) months of claims
expenses based upon average monthly claims expenses for the past twelve (12) months
for a
continuous
period of more than six (6) months. In no case shall such notification under this paragraph be required more than twice in any calendar year
.

Section 2.

This act is effective July 1, 2011.

(END)

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SF0054