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2018 Wyoming Statutes
TITLE 26 - INSURANCE CODE
CHAPTER 51 - OWN RISK SOLVENCY
SECTION 26-51-109 - Sanctions.
Universal Citation: WY Stat § 26-51-109 (2018)
26-51-109. Sanctions.
Any insurer failing, without just cause, to timely file the ORSA summary report as required in this chapter shall be required, after notice and hearing, to pay a penalty of two thousand five hundred dollars ($2,500.00) for each day's delay, to be recovered by the commissioner. The maximum penalty under this section is seventy-five thousand dollars ($75,000.00). The commissioner may reduce the penalty if the insurer demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.
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