Wyoming Compliance Handbook-2011
Licensing Requirements, Pre-education, Appointments
Wyoming Resident Individual Insurance Producer License
Required to sell, solicit or negotiate insurance in Wyoming.
Two-year license.
Renewable on last day of producer’s birth month every two years.
Wyoming does not require pre-licensing education or photos.
Lines of Insurance on a Producer License:
Life
Accident/Health/Sickness/Disability
Variable Life/Variable Annuity
Property
Casualty
Personal Lines
Limited Line - Credit (no CE required for Credit)
Limited Line - Travel (no exam, or CE required for Travel)
Eligibility for Resident Producer License
To obtain a Wyoming resident producer license, an individual must:
Be at least eighteen (18) years of age,
Have not committed any act that is a ground for denial, suspension or revocation pursuant to Wyoming Statute § 26-9-211,
Submit a completed application,
Pay the appropriate fees,
Within the preceding 12 months, pass the appropriate exam (no exam for Travel), and
Submit fingerprints and a fee for the Criminal History Record Check.
Applicants for variable life/variable annuity must include:
FINRA Registration Summary
Pass Series 6 or 7 and Series 63, 65 or 66.
How to Register for an Exam
Pearson VUE administers all required insurance licensing exams for the Department.
For information on exam scheduling, procedures and outlines, follow this link:
Pearson VUE
Study materials are available from these vendors.
How to Apply for a License
Electronic Processing (Preferred)
After passing the appropriate exam, applications may be submitted electronically through Sircon or NIPR.
Additional information required for resident applications must be mailed, faxed or emailed to the Department.
$39 Criminal History Record Check Fee (effective July 1, 2011).
See Fingerprints and Criminal History Record Check webpage for information.
Paper Processing
After passing the appropriate exams, submit to the Department the following:
Uniform Application for Individual Producer License – available through NIPR
Additional Documentation as Required by the Application
Appropriate Licensing Fee (see Application and Licensing Fees below)
Criminal History Record Check Fee.
See Fingerprints and Criminal History Record Check webpage for information.
Application and Licensing Fees for Resident Producers
$100 for any one or combination of the following:
Life
Accident/Health/Sickness/Disability
Variable Life/Variable Annuities
$100 for any one or combination of the following:
Property
Casualty
Personal Lines
$100 for Limited Line Credit
$20 for Limited Line Travel
$39 Criminal History Record Check Fee.
Licensing fees are nonrefundable.
Make funds payable to Wyoming State Treasurer.
Criminal History Record Check
Effective July 1, 2011.
Applications received prior to July 1, including the background report will be processed.
Refer to Fingerprints and Criminal History Record Check webpage for information.
Appointment Requirements
Company appointments are required for individuals and business entities.
Follow this link for information and forms: Appointments.
Wyoming does not recognize firm affiliations other than the Designated Licensed Producer (DLP).
See Resident Business Entity Licensing for information on DLP.
Nonresident Producer Relocating to Wyoming
If a producer licensed in another state is moving to Wyoming, an exam and background report may not be required.
To become licensed without an exam and background report, the producer must:
Establish legal residence in Wyoming,
Apply for a resident insurance producer license,
Pay the appropriate fees,
Have been licensed in the prior resident state for the same lines,
Submit a letter of clearance from the prior resident state within 90 days of cancellation of previous license.
If the applicant is unable to produce a timely Letter of Clearance, the applicant must:
Apply for a resident producer license,
Pass an examination, and
Meet all other requirements for licensure.
ARTICLE 2 - INSURANCE PRODUCERS
26-9-201.� Purpose and scope.
This chapter governs the qualifications and procedures for the licensing of insurance producers.� This chapter does not apply to excess and surplus lines brokers licensed pursuant to W.S. 26-11-112 except as provided in W.S. 26-9-207(b), 26-9-207(c) and 26-9-208 or as expressly provided in chapter 11 of this code.
26-9-202.� Definitions.
(a)� As used in this chapter:
(i)� "Business entity" means a corporation, association, partnership, limited liability company, limited liability partnership or other legal entity;
(ii)� "Home state" means the District of Columbia and any state or territory of the United States in which an insurance producer maintains his principal place of residence or principal place of business and is licensed to act as an insurance producer;
(iii)� "License" means a document issued by the commissioner authorizing a person to act as an insurance producer for the lines of authority specified in the document. The license itself does not create any authority, actual, apparent or inherent, in the holder to represent or commit an insurer;
(iv)� "Limited line credit insurance" includes credit life, credit disability, credit property, credit unemployment, involuntary unemployment, mortgage life, mortgage guaranty, mortgage disability, guaranteed automobile protection insurance, and any other form of insurance offered in connection with an extension of credit that is limited to partially or wholly extinguishing that credit obligation that the commissioner determines should be designated a form of limited line credit insurance;
(v)� "Limited line credit insurance producer" means a person who sells, solicits or negotiates one (1) or more forms of limited line credit insurance coverage to individuals through a master, corporate, group or individual policy;
(vi)� "Limited lines insurance" means those lines of insurance referred to in W.S. 26-9-209(c), 26-9-221, 26-32-101, 26-36-113, 26-37-102(a)(iv), 26-50-103 or 31-14-120 or any other line of insurance the commissioner deems necessary to recognize for the purposes of complying with W.S. 26-9-208(e);
(vii)� "Limited lines producer" means a person authorized by the commissioner to sell, solicit or negotiate limited lines insurance;
(viii)� "Negotiate" means the act of conferring directly with or offering advice directly to a purchaser or prospective purchaser of a particular contract of insurance concerning any of the substantive benefits, terms or conditions of the contract, provided that the person engaged in that act either sells insurance or obtains insurance from insurers for purchasers;
(ix)� "Sell" means to exchange a contract of insurance by any means, for money or its equivalent, on behalf of an insurer;
(x)� "Solicit" means attempting to sell insurance or asking or urging a person to apply for a particular kind of insurance from a particular insurer;
(xi)� "Terminate" means the cancellation of the relationship between an insurance producer and the insurer or the termination of a producer's authority to transact insurance;
(xii)� "Uniform application" means the current version of the National Association of Insurance Commissioners' uniform application for resident and nonresident producer licensing;
(xiii)� "Uniform business entity application" means the current version of the National Association of Insurance Commissioners' uniform business entity application for resident and nonresident business entities.
26-9-203.� License required.
A person shall not sell, solicit or negotiate insurance in this state for any class or classes of insurance unless the person is licensed for that line of authority in accordance with this chapter.
26-9-204.� Exceptions to licensing.
(a)� Nothing in this chapter shall be construed to require an insurer to obtain an insurance producer license. As used in this section, the term "insurer" does not include an insurer's officers, directors, employees, subsidiaries or affiliates.
(b)� A license as an insurance producer shall not be required of the following:
(i)� An officer, director or employee of an insurer or of an insurance producer, provided that the officer, director or employee does not receive any commission on policies written or sold to insure risks residing, located or to be performed in this state, and:
(A)� The officer, director or employee's activities are executive, administrative, managerial, clerical or a combination of these, and are only indirectly related to the sale, solicitation or negotiation of insurance; or
(B)� The officer, director or employee's function relates to underwriting, loss control, inspection or the processing, adjusting, investigating or settling of a claim on a contract of insurance; or
(C)� The officer, director or employee is acting in the capacity of a special agent or agency supervisor assisting insurance producers where the person's activities are limited to providing technical advice and assistance to licensed insurance producers and do not include the sale, solicitation or negotiation of insurance.
(ii)� A person who receives no commission and provides the following services:
(A)� Secures and furnishes information for the purpose of group life insurance, group property and casualty insurance, group annuities, group or blanket accident and health or disability insurance; or
(B)� Secures and furnishes information for the purpose of enrolling individuals under plans, issuing certificates under plans or otherwise assisting in administering plans; or
(C)� Performs administrative services related to mass marketed property and casualty insurance.
(iii)� An employer or association or its officers, directors, employees, or the trustees of an employee trust plan, to the extent that the employers, officers, employees, directors or trustees are engaged in the administration or operation of a program of employee benefits for the employer's or association's own employees or the employees of its subsidiaries or affiliates, which program involves the use of insurance issued by an insurer, as long as the employers, associations, officers, directors, employees or trustees are not in any manner compensated, directly or indirectly, by the company issuing the contracts;
(iv)� Employees of insurers or organizations employed by insurers who are engaging in the inspection, rating or classification of risks, or in the supervision of the training of insurance producers and who are not individually engaged in the sale, solicitation or negotiation of insurance;
(v)� A person whose activities in this state are limited to advertising without the intent to solicit insurance in this state through communications in printed publications or other forms of electronic mass media whose distribution is not limited to residents of the state, provided that the person does not sell, solicit or negotiate insurance that would insure risks residing, located or to be performed in this state;
(vi)� A person who is not a resident of this state who sells, solicits or negotiates a contract of insurance for commercial property and casualty risks to an insured with risks located in more than one (1) state insured under that contract, provided that person is otherwise licensed as an insurance producer to sell, solicit or negotiate the insurance in the state where the insured maintains its principal place of business and the contract of insurance insures risks located in that state; or
(vii)� A salaried full-time employee who counsels or advises his employer relative to the insurance interests of the employer or of the subsidiaries or business affiliates of the employer provided the employee does not sell or solicit insurance or receive a commission.
26-9-205.� Application for examination.
(a)� A resident individual applying for an insurance producer license shall pass a written examination unless exempt pursuant to W.S. 26-9-209. The examination shall test the knowledge of the individual concerning the lines of authority for which application is made, the duties and responsibilities of an insurance producer and the insurance laws and regulations of this state. Examinations required by this section shall be developed and conducted by the commissioner who shall adhere to the applicable instructions or recommendations of the state board of insurance agents' examiners as provided by W.S. 26-10-104.
(b)� The commissioner and the state board of insurance agents' examiners may make arrangements, including contracting with an outside testing service, for administering examinations.� If an outside testing service is employed, each individual applying for an examination shall remit the appropriate fee for the examination to the testing service.
26-9-206.� Application for license.
(a)� A person applying for a resident insurance producer license shall make application to the commissioner on the uniform application and declare under penalty of refusal, suspension or revocation of the license that the statements made in the application are true, correct and complete to the best of the individual's knowledge and belief. Before approving the application, the commissioner shall find that the individual:
(i)� Is at least eighteen (18) years of age;
(ii)� Has not committed any act that is a ground for denial, suspension or revocation set forth in W.S. 26-9-211;
(iii)� Has paid the fees set forth in W.S. 26-4-101(a);
(iv)� Has successfully passed the examinations for the lines of authority for which the person has applied; and
(v)� Has provided the commissioner fingerprints and other information and permission necessary for a criminal history record background check as provided in W.S. 7-19-201(a). The cost of the criminal history record background check shall be paid by the applicant.
(b)� A business entity acting as an insurance producer is required to obtain an insurance producer license. Application shall be made using the uniform business entity application. Before approving the application, the commissioner shall find that:
(i)� The business entity has paid the fees set forth in W.S. 26-4-101(a); and
(ii)� The business entity has designated a licensed producer responsible for the business entity's compliance with the insurance laws, rules and regulations of this state.
(c)� The commissioner may require any documents reasonably necessary to verify the information contained in an application.
(d)� Each insurer that sells, solicits or negotiates any form of limited line credit insurance shall provide to each individual whose duties will include selling, soliciting or negotiating limited line credit insurance a program of instruction.
26-9-207.� License.
(a)� Unless denied licensure pursuant to W.S. 26-9-211, persons who have met the requirements of W.S. 26-9-205 and 26-9-206 shall be issued an insurance producer license. An insurance producer may receive qualification for a license in one (1) or more of the following lines of authority:
(i)� Life - insurance coverage on human lives including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income;
(ii)� Accident and health or sickness or disability - insurance coverage for sickness, bodily injury or accidental death and may include benefits for disability income;
(iii)� Property - insurance coverage for the direct or consequential loss or damage to property of every kind;
(iv)� Casualty - insurance coverage against legal liability, including that for death, injury or disability or damage to real or personal property;
(v)� Variable life and variable annuity products - insurance coverage provided under variable life insurance contracts and variable annuities;
(vi)� Personal lines - property and casualty insurance coverage sold to individuals and families for primarily noncommercial purposes;
(vii)� Credit - limited line credit insurance;
(viii)� Any other line of insurance permitted under state laws or regulations.
(b)� An individual insurance producer, adjuster or surplus lines broker license shall remain in effect unless revoked or suspended as long as on or before the last day of the month of the licensee's birthday in the second year following the issuance or renewal of the license the continuation fee set forth in W.S. 26-4-101(a) is paid, the continuing education requirements are met by the due date and a written request for continuation of the license is made to the commissioner on forms prescribed by the commissioner.
(c)� An individual insurance producer, adjuster or surplus lines broker who allows his license to lapse may, within twelve (12) months from the due date of the continuation fee, reinstate the same license without the necessity of passing a written examination. However, a penalty equal to the amount of the continuation fee shall be required in addition to the continuation fee for any continuation request received after the due date.
(d)� A licensed insurance producer who is unable to comply with license renewal procedures due to military service or some other extenuating circumstance such as a long-term medical disability may request a waiver of those procedures. The producer may also request a waiver of any examination requirement or any other fine or sanction imposed for failure to comply with renewal procedures.
(e)� The license shall contain the licensee's name, address, personal identification number, date of issuance, the lines of authority, the expiration date and any other information the commissioner deems necessary.
(f)� Licensees shall inform the commissioner by any means acceptable to the commissioner of a change of address within thirty (30) days of the change.
(g)� The commissioner may contract with nongovernmental entities, including the National Association of Insurance Commissioners or any affiliates or subsidiaries that association oversees, to perform any ministerial functions, including the collection of fees, related to producer licensing that the commissioner and the nongovernmental entity may deem appropriate.
(h)� Repealed By Laws 2011, Ch. 60, � 3.
(j)� Repealed By Laws 2011, Ch. 60, � 3.
26-9-208.� Nonresident licensing.
(a)� Unless denied licensure pursuant to W.S. 26-9-211, a nonresident person shall receive a nonresident producer license if:
(i)� The person is currently licensed as a resident and is in good standing in his home state;
(ii)� The person has submitted the proper request for licensure and has paid the fees required by W.S. 26-4-101(a);
(iii)� The person has submitted or transmitted to the commissioner the application for licensure the person submitted to his home state, or in lieu of the same, a completed uniform application; and
(iv)� The person's home state awards nonresident producer licenses to residents of this state on the same basis.
(b)� The commissioner may verify the producer's licensing status through the producer database maintained by the National Association of Insurance Commissioners, its affiliates or subsidiaries.
(c)� A nonresident producer who moves from one (1) state to another or a resident producer who moves from this state to another state shall file a change of address and provide certification from the new resident state within thirty (30) days of the change of legal residence. No fee or license application is required.
(d)� Notwithstanding any other provision of this chapter, a person licensed as a surplus lines producer in his home state shall receive a nonresident surplus lines producer license pursuant to subsection (a) of this section. Except as to subsection (a) of this section, nothing in this section otherwise amends or supercedes any provision of chapter 11 of this code.
(e)� Notwithstanding any other provision of this chapter, a person licensed as a limited line credit insurance or other type of limited lines producer in his home state shall receive a nonresident limited lines producer license, pursuant to subsection (a) of this section, granting the same scope of authority as granted under the license issued by the producer's home state. For the purposes of this subsection, limited line insurance is any authority granted by the home state which restricts the authority of the license to less than the total authority prescribed in the associated major lines pursuant to W.S. 26-9-207(a)(i) through (vi).