DAR File No. 38366
This notice was published in the April 15, 2014, issue (Vol. 2014, No. 8) of the Utah State Bulletin.
Insurance, Administration
Rule R590-228
Submission of Credit Life and Credit Accident and Health Insurance Form and Rate Filings
Five-Year Notice of Review and Statement of Continuation
DAR File No.: 38366
Filed: 03/18/2014 10:43:04 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:
Under Subsection 31A-2-201(3), the commissioner is given the authority to write rules to implement the provisions of Title 31A. Under Section 31A-2-201.1, the commissioner is given the authority to regulate the filing of rates, forms, and reports. Under Subsection 31A-2-202(2), the commissioner can prescribe the forms to be used in filing reports. Section 31A-22-807 allows the commissioner to set loss ratio standards and tests to make sure the benefits provided are reasonable in relation to the premiums paid for the coverage. As a result of these code references, this rule sets forth filing requirements, procedures, and forms to be used in the filing of rates and forms for various types of credit life and credit accident and health insurance products.
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 in 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 this rule continue in force to allow the department to provide uniformity among companies selling credit life and credit accident and health products in the United States. The rule allows for uniformity in how a company filing is made and the information and documents to be included, which allows for a uniform review of these rates and forms. 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
Effective:
03/18/2014
Authorized by:
Todd Kiser, Commissioner
Additional Information
More information about a Five-Year Notice of Review and Statement of Continuation is available online.
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/2014/b20140415.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. For questions about the rulemaking process, please contact the Division of Administrative Rules.