044-4 Wyo. Code R. § 4-17
(a) Every insurer shall post a bond (not in an affiliated company), in a form acceptable to the commissioner, or a cash deposit in this state for each administrator it registers. The amount of the bond or deposit shall be not less than ten (10) per centum of the amount of total funds handled. No bond or deposit may be for less than one thousand dollars ($ 1,000) nor more than five hundred thousand dollars ($500,000) unless a larger amount is deemed by the commissioner to be necessary for the protection of the insurer's policyholders in this state. For purposes of fixing the amount of such bond or deposit, the amount of funds handled shall be determined by the total funds handled by the administrator during the preceding year, or if no funds were handled during the preceding year, the amount of funds reasonably estimated to be handled during the current licensing year by the administrator. Such bond or deposit shall provide protection to the insurer's policyholders or insureds in this state against loss by reason of acts of fraud or dishonesty and negligence by the administrator.
(b) The commissioner may waive the requirement that an insurer post a bond or deposit for any insurer if he deems such bond or deposit unnecessary for the protection of the insurer's policyholders in this state. The commissioner may consider the insurer's financial status, the administrator's experience or any other relevant factor in determining whether he shall waive the requirements for a bond or deposit.
044-4 Wyo. Code R. § 4-17