Each insurer shall:
(a) Inform its personnel responsible for compliance with this Regulation of the requirements of this Regulation;
(b) Require with or as a part of each completed application for insurance a statement signed by the applicant as to whether such proposed insurance will replace existing insurance;
(c) Where a replacement is proposed by an insurer in the solicitation of a direct-response sale or it is known by the insurer on the date of application that a replacement will occur: application the "Replacement Notice" (Exhibit A), or other substantially similar form approved by the commissioner, with the request that the applicant properly complete, sign and return a copy of the Notice with the application. In these instances the insurer may delete the references to the producer, including the producer's signature, and references not applicable to the product being sold or replaced, without having to obtain approval of the form from the commissioner. The "Replacement Notice" shall include any applicable surrender charges of the new policy being replaced, any sales charges applicable to the policy being purchased, and any surrender periods and/or charges applicable to the new policy being purchased.
(d) Where no replacement is proposed by an insurer in the solicitation of a direct-response sale and a Replacement Notice was not included with or as part of the application and returned to the insurer, but it is indicated on the application that a replacement might occur and the insurer plans to issue a policy:
044-12 Wyo. Code R. § 12-8