Wyoming
Wyoming Clarifies Appointment and Termination Requirements
The Wyoming Department of Insurance has observed that some producers and insurers are not fully aware of their rights and responsibilities. As a result, they are looking to clarify the requirements.
Requirements highlighted:
- Within 30 days of the effective date of termination, insurer must notify the Department using an accepted form. If terminated for cause, an additional form is needed.
- Within 15 days of notifying the commissioner, the insurer must also mail a copy of the termination notification to the producer.
- After the producer receives this notification, they have 30 days to respond with written comments. These comments must also be sent to the insurer.
AgentSync Actions
Our compliance experts are constantly searching for and analyzing industry updates.
Their findings are then recorded in the Regulatory Updates section of the Compliance
Library to explain how the update impacts the insurance industry. If a change
impacts an
AgentSync product, this will be highlighted to inform you that the product is being
updated to ensure you remain in compliance.
analyzed
pending
effective
This update has been reviewed by AgentSync compliance experts for industry impact and necessary automation in the AgentSync platform.
categories
General
analyzed
Our compliance experts have identified the update and analyzed it for impact on both the industry and AgentSync products.
pending
The time between the update's publication date and effective date.
effective
The date the update takes effect.
released
This means an AgentSync product was updated as a result of this change and the update is now live in our product(s).