Wyo. Stat. §26-16-505 — what it says, and how the exam tests it

26-16-505. Unclaimed life insurance benefits. (a) An insurer shall perform a comparison of its insureds' policies and retained asset accounts against a death master file on at least a semi-annual basis by using the full death master file once and thereafter using the death master file update files for future comparisons in order to identify potential matches of its insureds. (b) Not later than ninety (90) days after a death master file match an insurer shall: (i) Complete and document a good faith effort to confirm the death of the insured or retained asset account holder against other available records and information; and (ii) Determine whether benefits are due in accordance with the applicable policy. If benefits are due in accordance with the applicable policy the insurer shall complete and document good faith efforts to locate the beneficiary. The insurer shall also provide the appropriate claims forms or instructions to the beneficiary to make a claim including the need to provide an official death certificate, if applicable under the policy. (c) With respect to group life insurance, an insurer shall confirm the possible death of an insured pursuant to paragraph (b)(i) of this section when the insurer maintains at least the following information on those covered under a policy: (i) Social security number or name and date of birth; (ii) Beneficiary designation; (iii) Coverage eligibility; (iv) Benefit amount; and (v) Premium payment status. (d) Every insurer shall implement procedures to account for all of the following: (i) Common nicknames, initials used in lieu of a first or middle name, use of a middle name, compound first and middle names and interchanged first and middle names; (ii) Compound last names, maiden or married names and hyphens, blank spaces or apostrophes in last names; (iii) Transposition of the month and date within a date of birth; (iv) Incomplete social security numbers. (e) To the extent permitted by law, an insurer may disclose minimum necessary personal information about the insured or beneficiary to a person whom the insurer reasonably believes may be able to assist the insurer in locating the beneficiary. (f) An insurer or its service provider shall not charge any beneficiary or other authorized representative for any fees or costs associated with a death master file search or verification of a death master file match…