The purpose of this Regulation is:
(a) To regulate the activities of insurers, and producers with respect to the replacement of existing life insurance and annuities.
(b) To protect the interests of life insurance and annuity purchasers by establishing minimum standards of conduct to be observed in replacement transactions by:
(c) To declare that failure to comply with the provisions of this Regulation will be deemed an unfair method of competition and an unfair trade practice.
044-12 Wyo. Code R. § 12-2