Wyoming Administrative Code
Agency 044 - Insurance Dept
Sub-Agency 0002 - General Agency, Board or Commission Rules
Chapter 21 - Rules Governing Advertisements of Accident and Sickness Insurance
Section 21-8 - Standards for Marketing
Universal Citation: WY Code of Rules 21-8
Current through December 21, 2024
(a) An insurer, directly or through its producers, shall:
(i) Establish marketing
procedures assuring any policy comparison by its producers will be fair and
accurate;
(ii) Establish marketing
procedures assuring excessive insurance is not sold or issued, except in the
case of group major medical expense coverage and disability income coverage;
and
(iii) Establish auditable
procedures for verifying compliance with this subsection.
(b) In addition to the practices prohibited in Wyoming Statute § 26-13-101 et seq., the following acts and practices are prohibited:
(i) High Pressure Tactics. Employing
marketing methods that effectually induce insurance purchases, or tend to
induce insurance purchases, through force, fright, threat (explicit or
implied), or undue pressure to purchase or recommend the purchase of insurance;
and
(ii) Cold Lead Advertising.
Using, directly or indirectly, any marketing method which fails to disclose in
a conspicuous manner that a purpose of the marketing method is soliciting
insurance and contact will be made by an insurance producer or insurance
company.
Disclaimer: These regulations may not be the most recent version. Wyoming may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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