WY Insurance Memorandum 1-2012
All cancer only policies annual certification requirements.
Administration (307) 777-7401 ♦ Fax (307) 777-2446
http://insurance.state.wy.us.
Licensing (307) 777-7319 ♦ Fax (307) 777-5895
THE STATE
OF WYOMING
Matthew H. Mead
Governor
Insurance Department
106 East 6th Avenue ♦Cheyenne, Wyoming 82002
Tom C. Hirsig
Commissioner
MEMORANDUM
TO:
All Cancer Insurers
FROM: Peter Greff, Insurance Standards Consultant
RE:
Annual Rate Certification
DATE: May 21st, 2012
Pursuant to Wyoming Department of Insurance Rules and Regulations, Chapter 34, Part 4, all
cancer only policies must file an annual certification with the Department that shows benefits in
relation to the premiums charged are designed to produce a minimum loss ratio of not less than
sixty (60) percent. If such certification shows that in any year the policy has produced or will
produce less than a sixty (60) percent loss ratio over a five year period of time, the policy and
rates will need to be refiled to meet these minimum requirements.
The regulation can be
accessed through the following link: http://soswy.state.wy.us/Rules/RULES/2286.pdf.
Please
provide this certification no later than July 1st of every year. The information can be filed with
the Department through SERFF or be sent to:
Wyoming Department of Insurance
ATTN: Peter Greff
106 East 6th Ave
Cheyenne, WY 82001