Wyoming
Jeffrey Rude
Wyoming Insurance Department
Appointments & Terminations
Yes
Yes
Within 15 days of contract execution or first business submission
JIT appointments permitted. State statute says the appointment must be submitted to the DOI within 15 days of the appointment effective date, which is the date the agent/agency contract is executed or the first piece of business is submitted to the carrier.
Yes
$15
$15
Yes
No
No
No
Not required and is the date the transaction is processed by the state.
Yes
Via NIPR Portal
Feb. 1, 2024 until March 31, 2024
$15 per appointment
Yes
Voluntary termination; inadequate production; cancelled by general agent; death; company defunct or liquidation; company indebtedness; poor policyholder services; appointed in error
No
Effective date is ignored (but required). Date effective is date transaction is processed by the state
$15
Licensing
Resident New License Insurance Producer: $100 (Life Accident & Health or Sickness Variable Life and Variable Annuity) Resident New License Insurance Producer: $100 (Property Casualty Personal Lines) Resident New License Surplus Lines Broker: $100 Resident New License Limited Lines: $20 Non Resident New License Insurance Producer: $150 (Life Accident & Health or Sickness Variable Life and Variable Annuity) Non Resident New License Insurance Producer: $150 (Property Casualty Personal Lines) Non Resident New License Surplus Lines Broker: $100 Non Resident New License Limited Lines: $20
Resident Producer Line of Authority Combination: (Group 1) Life, Accident & Health or Sickness, Variable Life and Variable Annuity Renewal Fee: $100.00 Late Renewal Fee: $200.00 Resident Producer Line of Authority Combination: (Group 2) Property Casualty Personal Lines Renewal Fee: $100.00 Late Renewal Fee: $200.00 Resident Producer Line of Authority Combination: (Group 3) Credit Renewal Fee: $100.00 Late Renewal Fee: $200.00 Resident Producer Line of Authority Combination: (Group 4) Title Renewal Fee: $100.00 Late Renewal Fee: $200.00 Resident Surplus Lines Broker Renewal Fee: $100.00 Late Renewal Fee: $200.00 Resident Limited Lines Producer Line of Authority Combination: All LOAs Renewal Fee: $20.00 Late Renewal Fee: $40.00 Fee Disclaimers: Per LOA Resident Specialty Limited Lines Producer Fee: $20.00 Late Renewal Fee: $40.00 Resident Adjuster Renewal Fee: $100.00 Late Renewal Fee: $200.00 Non-Resident Producer Line of Authority Combination: (Group 1) Life, Accident & Health or Sickness, Variable Life and Variable Annuity Renewal Fee: $150.00 Late Renewal Fee: $300.00 Non-Resident Producer Line of Authority Combination: (Group 2) Property, Casualty, Personal Lines Renewal Fee: $150.00 Late Renewal Fee: $300.00 Non-Resident Producer Line of Authority Combination: (Group 3) Credit Renewal Fee: $150.00 Late Renewal Fee: $300.00 Non-Resident Surplus Lines Broker Line of Authority Combination: Surplus Lines Renewal Fee: $150.00 Late Renewal Fee: $300.00 Non-Resident Limited Lines Producer Renewal Fee: $20.00 Late Renewal Fee: $40.00 Fee Disclaimers: Per LOA Non-Resident Specialty Lines Producer Renewal Fee: $20.00 Late Renewal Fee: $40.00 Fee Disclaimers: Per LOA
90 days before expiration
Last day of birth month every 2 years based on year of first state license issue
Late renewal allowed up to one year after expiration
90 days before expiration
Last day of birth month every 2 years based on year of first state license issue
Late renewal allowed up to one year after expiration
No
No
Residence, Business, and Mailing
Life and Health Property and Casualty Reinsurance Intermediary Broker Consultant Managing General Agency Agency Non Resident Surplus Lines Broker Resident Surplus Lines Broker Non-Resident Adjuster - Designated Home State Wyoming Resident Producer Non Resident Third Party Administrator Limited Lines Motor Club Producer Non Resident Limited Lines Prod Non Resident Producer Resident Limited Lines Producer Firm Limited Lines Motor Club Producer Firm Non Resident Limited Lines Producer Firm Resident Specialty Limited Lines Producer Resident Limited Lines Producer Non-Resident Specialty Limited Lines Producer Risk Retention Non Resident Adjuster Resident Adjuster Pharmacy Benefit Manager
Residents A broker is a resident individual, firm or corporation acting as an independent contractor on behalf of the insured and for compensation or fee solicits, negotiates or procures insurance or the renewal or continuance thereof for insureds or prospective insureds.Any producer acting as a broker is not an agent or other representative of an insurer and does not have power by his/her own acts to obligate the insurer on any risk or by any transaction. The relationship between a broker and an insurer is that of insurer and agent if the producer has been appointed as an agent. A producer must be appointed before acting as an agent of an insurer. Appointments are not required for individuals representing agencies. Nonresidents may not be licensed as brokers.
No
Yes, for Resident Licensing
NIPR Gateway
None
Yes
Yes
Licensees must notify the Commissioner within 30 days of a change in name, address, telephone number, email address, and other contact information as defined by Commissioner rule and regulation. Contact Change Request supported via NIPR Gateway.
Agency
Not required unless doing business as Agency. If doing business as individual, individual license meets requirements.
Yes
No
Yes
No
Main license meets requirements
Adjuster
Yes
Yes
Yes
AK, AL, AR, AZ, CT, DE, FL, GA, ID, IN, KY, LA, ME, MI, MN, MS, MT, NC, NH, NM, NV, OK, OR, SC, TX, UT, VT, WA, WV
CA, HI, NY, PR
Adjuster, Property Adjuster, Casualty Adjuster, Crop
Licensing Fee (Residents): $100 Renewal Fee: $100 Late Renewal Fee: $200
Yes
Biennially, on the last day of the individual's birth month.
Resident Adjuster applicants must renew Property and Casualty simultaneously. Fingerprints are required for residents. Non residents must be licensed in their state to be an adjuster in Wyoming.
In the event of an emergency, adjusters may adjust claims in WY if they have an adjuster license in their home state or an acceptable DHS. These licenses can last a maximum of 90 days.
Continuing Education
24
2 years
Last day of birth month
Year of first license issuance
Prior to license expiration.
90 days prior to expiration date
Licensee has one year to complete CE requirements and pay late fee to reinstate.
Yes
3
3 hours of NFIP course
8-hour initial certification, with 4 hours of LTC-specific training every two years
One-time, 4-hour course
https://agentsync.io/blog/individual-producers/insurance-continuing-education-wyoming
Regulatory Updates
Wyoming Issues Notice Regarding TPA Renewals
On March 12, 2024, Wyoming issued a notice regarding renewal required documentation and updated renewal date for TPA licenses. See attachment.
Wyoming Department of Insurance Agency Agreements Termination Reminder for Property and Casualty and Individual Life and Annuities
On January 10, 2024, Wyoming updated termination requirements with a reminder that January 31, 2024 is the last day to terminate to avoid renewal fees. Invoices must be paid in full once generated for company’s appointments. March 31, 2024 is the final day to pay invoice to avoid automatic termination with an effective date of January 31, 2024.
State of Wyoming Department of Insurance Issues Memo on Company Appointment Renewal Process for 2024
- Appointment renewal invoices will be emailed on February 1, 2024. - Retroactive appointment expiration effective January 31, 2024. - Payment Due Date is March 31, 2024 - Last day to terminate appointment is January 31, 2024 Please see attached for additional information and payment details.
Wyoming Suitability in Annuity Transactions
Effective July 5, 2023, Wyoming regulation governing Suitability in Annuity Transactions will take effect on July 5, 2023. See attachment for full details.
Wyoming Medical Malpractice Reporting Memo
On April 20, 2023, Wyoming provided a memo to update insurers writing medical malpractice insurance in Wyoming regarding recent legislative changes. See attachment.
Wyoming Bulletin Offering Guidance on Depreciation of Labor in Property Claims
Wyoming bulletin offering guidance on depreciation of labor in property claims. See attachment.
Wyoming Updates Regulation Governing Suitability of Annuity Transactions
Wyoming updates regulation governing suitability in annuity transactions. See attachment for full details.
Wyoming Annual legislative and Regulatory Update Summary
Wyoming sent out a summary of legislative and regulatory updates. See full details on the attached document.
Wyoming Updates Accepted DHS List
Effective immediately, Wyoming has updated its list of Designated Home States
Wyoming Fee and DHS Update
Beginning 1/1/2023, Resident Licensing Renewal, Non-Resident Licensing, and Non Resident Adjuster Licensing all get fee updates for Wyoming. The $30 CE filing fee is removed and NRL for individual and business, and NRAL all increase from $100 to $150.
Wyoming Publishes Memorandum on Surplus Lines Export List
With this publication of the Surplus Lines Export List, Wyoming requests feedback on the deletion or addition of what is on the current list. This feedback must be provided by Dec. 5th, 2022.
Wyoming Updates TPA Regulations
Wyoming updates the TPA requirements for initial licensing and renewals that are effective immediately. Expand for a summary of the requirements and to view the original document.
Wyoming Updates Standards for Suitability in Annuity Transactions
The updates will reflect the best interest standards for annuity sales based on the National Association of Insurance Commissioners Suitability in Annuity Transactions Model. The updates result in a one time, 4 credit training course.
Wyoming Modifies July 7th, 2022 Memorandum
Wyoming's July 7, 2022 Memorandum on Designated Home State Licensing has been modified. It now includes and updated stance which includes reciprocating all resident state adjuster licenses so long as the licensee carries lines of authority reciprocated by Wyoming.
Wyoming Notes When DHS in not Accepted
Designated Home State (DHS) is ONLY acceptable when there is no home state license offered by their state. If the state of a staff adjuster that does not require staff adjuster licensing offers independent adjuster licensing and allows staff adjusters to obtain this license, the adjuster must obtain the independent adjuster license. Also, one cannot have a DHS license in a different state when they are applying for a WY DHS license.
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.
Wyoming Changes 2023 CE Fees
The change in fees will take into effect on 1/1/23.
FAQs
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How Do I Get an Insurance License in Wyoming?
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How Do I Get a State Adjuster License in Wyoming?
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How do I renew my insurance license in Wyoming?
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How do I renew my nonresident insurance license in Wyoming?
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How Do I renew My Non-Resident Adjuster License in Wyoming?
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How Do I Renew My Adjuster License In Wyoming?