2012 Wyoming Statutes
TITLE 26 - INSURANCE CODE
CHAPTER 3 - AUTHORIZATION OF INSURERS AND GENERAL REQUIREMENTS
26-3-108. Capital and surplus requirements.
(a) To qualify for authority to transact any kind of insurance as defined in chapter 5 or combination of kinds of insurance as specified in this subsection, a foreign insurer, or a domestic stock insurer applying for its original certificate of authority, shall possess and thereafter maintain unimpaired basic paid-in capital stock and surplus, if a stock insurer, or unimpaired basic surplus, if a foreign mutual insurer or foreign reciprocal insurer, in an amount not less than as follows:
Foreign Foreign
Kind or Mutual Reciprocal
kinds of Stock Insurers Insurers Insurers
insurance Capital Stock Surplus Surplus Surplus
Life $1,000,000. $500,000. $1,500,000.
Disability 1,000,000. 500,000. 1,500,000. 1,500,000.
Life &
disability 1,000,000. 1,000,000. 2,000,000.
Property 1,000,000. 1,000,000. 2,000,000. 2,000,000.
Casualty
Excluding
surety 1,000,000. 1,000,000. 2,000,000. 2,000,000.
Including
surety 1,000,000. 1,500,000. 2,500,000. 2,500,000.
Marine &
Transport-
ation 1,000,000. 1,000,000. 2,000,000. 2,000,000.
Multiple
line
(Property
and
any
additional
kind) 2,000,000. 2,000,000. 4,000,000. 4,000,000.
Title 500,000. 250,000.
(b) Capital and surplus requirements are based upon all the kinds of insurance the insurer transacts in any areas in which it operates or proposes to operate, whether or not only a portion of the kinds are to be transacted in Wyoming.
(c) As to surplus required for qualification to transact one (1) or more kinds of insurance and thereafter to be maintained, domestic mutual insurers are governed by chapter 24 of this code and domestic reciprocal insurers are governed by chapter 27 of this code.
(d) The commissioner may require additional capital and surplus above the minimum capital and surplus requirements set forth in this section, or any other section of this code based upon the type, volume and nature of the insurance business transacted.
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