Everything you would ever need to know about Wyoming insurance can be found at one place – online at the Wyoming Insurance Department. Although the primary concern of this governmental agency is the protection of consumers wanting to purchase insurance, this agency also provides an abundance of information that is designed specifically for insurers and providers.
This department serves a vital role when it comes to Wyoming insurance. For instance, the department has the responsibility to establish, monitor, and enforce regulations for the insurance industry in this state. This means for an agency or company to be able to sell Wyoming insurance of any type, they must first go through this department to be licensed. Other areas in which the department assists insurance companies is with risk retention, purchasing groups, and policy filing approvals.
For agencies and companies that sell Wyoming insurance, this state controls and oversees regulations for everyone involved on the professional end to include agents, brokers, adjusters, and consultants. Then, any complaints that consumers file against someone selling Wyoming insurance would be investigated. Even an insurance agency or company’s financial condition would be the responsibility of this department, as well as solvency of any companies. In fact, for agencies and companies selling Wyoming insurance, the department collects surplus lines taxes and premiums.
The way in which the department protects consumers is because all professionals selling Wyoming insurance must be licensed, all types of policy types are involved.
This means whether the Wyoming insurance being sold is for homeowner, renter, automobile, health, life, travel, or business-related, the department would make sure the proper license are in place. Even consumer complaints about anyone selling Wyoming insurance are taken to heart. After all, this governmental agency wants the insurance experience in this state to be positive and fair, according to law.
As a consumer interested in buying some type of Wyoming insurance, you can visit the Wyoming Insurance Department’s website and under the “Citizen” tab, find a wealth of information and resources. The list of categories is quite lengthy but just a few examples include links to the Better Business Bureau and the Attorney General’s office. In addition, consumers can click into the category for Insurance Consumer Assistance, which is also helpful.
On the left-hand side of the page is a variety of additional categories that everyone can benefit from pertaining to Wyoming insurance. A prime example is the tab for the Wyoming Health Insurance Pool, also referred to as WHIP. First established in 1990, this pool is designed to help residents of Wyoming without health insurance coverage to have protection. For anyone that cannot afford to purchase an individual Wyoming insurance policy for healthcare or does not have coverage through an employer, WHIP would be available as long as eligibility requirements were met.
If you were an employer needing to know more about setting up a group policy for employers, the information is available. If you were a consumer that has a problem with one of the insurance companies in the state, this would be the place to go. However, if you were an insurer needing to be licensed to sell Wyoming insurance, this site is invaluable.
