Insurance-financial reporting requirements.

09LSO-0039.C1

FISCAL NOTE

No significant fiscal or personnel impact.

This bill merely amends and adds to the current model audit law contained in the Wyoming Insurance Code.  This provision of the code requires that insurers provide an independent audit of the financial information filed with the Department on an annual basis.  The audit must be completed by a certified public accountant independent of the insurance company.  The new provisions and amendments to the law relate mainly to corporate governance and internal controls.  None of the provisions of this bill will increase or reduce revenues to the State of Wyoming. 

Prepared by:   Ken Vines, Insurance Department   Phone: (307)777-6894