DAR File No. 37099
This notice was published in the January 1, 2013, issue (Vol. 2013, No. 1) of the Utah State Bulletin.
Insurance, Administration
Rule R590-124
Loss Information Rule
Five-Year Notice of Review and Statement of Continuation
DAR File No.: 37099
Filed: 12/12/2012 11:37:21 AM
NOTICE OF REVIEW AND STATEMENT OF CONTINUATION
Concise explanation of the particular statutory provisions under which the rule is enacted and how these provisions authorize or require the rule:
Subsection 31A-2-201(3) allows for the adoption of rules to implement the Utah Insurance Code. Subsection 31A-23a-402(8) authorizes the commissioner to define unfair methods of competition. This rule requires that upon a written request from the insured, an insurer must provide the insured with their loss information. Section R590-124-4 of the rule provides instructions as to what loss information insurers are required to release, when and how often, and in what format.
Summary of written comments received during and since the last five-year review of the rule from interested persons supporting or opposing the rule:
The department has not received any written comments regarding this rule over the past five years.
Reasoned justification for continuation of the rule, including reasons why the agency disagrees with comments in opposition to the rule, if any:
It is important that the law provide guidelines to insurers for the maintenance and dissemination of loss information to the insured and other insurers, otherwise, loss information would not be released by insurers. Loss information is important to insureds to determine if their efforts to reduce losses has been successful and it is important to insurers who want to provide the insured with a competitive quote for their business. Therefore, this rule should be continued.
The full text of this rule may be inspected, during regular business hours, at the Division of Administrative Rules, or at:
InsuranceAdministration
Room 3110 STATE OFFICE BLDG
450 N MAIN ST
SALT LAKE CITY, UT 84114-1201
Direct questions regarding this rule to:
- Jilene Whitby at the above address, by phone at 801-538-3803, by FAX at 801-538-3829, or by Internet E-mail at jwhitby@utah.gov
Authorized by:
Neal Gooch, Commissioner
Effective:
12/12/2012
Additional Information
The Portable Document Format (PDF) version of the Bulletin is the official version. The PDF version of this issue is available at https://rules.utah.gov/publicat/bull-pdf/2013/b20130101.pdf. The HTML edition of the Bulletin is a convenience copy. Any discrepancy between the PDF version and HTML version is resolved in favor of the PDF version.
For questions regarding the content or application of this rule, please contact Jilene Whitby at the above address, by phone at 801-538-3803, by FAX at 801-538-3829, or by Internet E-mail at jwhitby@utah.gov.