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Title 26 Insurance Code

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Change 1

What to do with it
As published

26-44-120. Authorized use of and prohibited statements

regarding group capital calculations, liquidity stress tests and related information. (a) The group capital calculation, including the group capital ratio produced within the calculation, that is required to be reported under W.S. 26-44-104(p) and the liquidity stress test along with its results and supporting disclosures required under W.S. 26-44-104(q) may be used as regulatory tools for assessing group risks and capital adequacy and group liquidity risks, respectively, but shall not be used to rank insurers or insurance holding company systems generally. (b) Except as authorized in subsection (d) of this section or as otherwise required in this act, a person shall not engage in the making, publishing, disseminating, circulating or placing before the public, or causing directly or indirectly to be made, published, disseminated, circulated or placed before the public in a newspaper, magazine or other publication, or in the form of a notice, circular, pamphlet, letter or poster, or over any radio or television station or any electronic means of communication available to the public, or in any other way an advertisement, announcement or statement containing a representation or statement with regard to the group capital calculation, group capital ratio, liquidity stress test results, or supporting disclosures for the liquidity stress test of any insurer or any insurer group, or any component derived in the calculation by any insurer, broker or other person engaged in any manner in the insurance business. (c) Any action prohibited under subsection (b) of this section shall be deemed by the commissioner to be misleading. (d) If any materially false statement with respect to the group capital calculation, group capital ratio, liquidity stress test result or supporting disclosures for the liquidity stress test or an inappropriate comparison of any amount to an insurer's or insurance group's group capital calculation, group capital ratio, liquidity stress test result or supporting disclosures is published in any written publication and the insurer is able to demonstrate to the commissioner with substantial proof the falsity of the statement or the inappropriateness of the comparison, then the insurer may publish announcements in a written publication if the sole purpose of the announcement is to rebut the materially false statement or inappropriate comparison.

Your change, as a redline

26-44-120. Authorized use of and prohibited statements

regarding group capital calculations, liquidity stress tests and related information. (a) The group capital calculation, including the group capital ratio produced within the calculation, that is required to be reported under W.S. 26-44-104(p) and the liquidity stress test along with its results and supporting disclosures required under W.S. 26-44-104(q) may be used as regulatory tools for assessing group risks and capital adequacy and group liquidity risks, respectively, but shall not be used to rank insurers or insurance holding company systems generally. (b) Except as authorized in subsection (d) of this section or as otherwise required in this act, a person shall not engage in the making, publishing, disseminating, circulating or placing before the public, or causing directly or indirectly to be made, published, disseminated, circulated or placed before the public in a newspaper, magazine or other publication, or in the form of a notice, circular, pamphlet, letter or poster, or over any radio or television station or any electronic means of communication available to the public, or in any other way an advertisement, announcement or statement containing a representation or statement with regard to the group capital calculation, group capital ratio, liquidity stress test results, or supporting disclosures for the liquidity stress test of any insurer or any insurer group, or any component derived in the calculation by any insurer, broker or other person engaged in any manner in the insurance business. (c) Any action prohibited under subsection (b) of this section shall be deemed by the commissioner to be misleading. (d) If any materially false statement with respect to the group capital calculation, group capital ratio, liquidity stress test result or supporting disclosures for the liquidity stress test or an inappropriate comparison of any amount to an insurer's or insurance group's group capital calculation, group capital ratio, liquidity stress test result or supporting disclosures is published in any written publication and the insurer is able to demonstrate to the commissioner with substantial proof the falsity of the statement or the inappropriateness of the comparison, then the insurer may publish announcements in a written publication if the sole purpose of the announcement is to rebut the materially false statement or inappropriate comparison.

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