DAR File No. 43219

Insurance, Administration

Rule R590-161

Disability Income Policy Disclosure

Five-Year Notice of Review and Statement of Continuation

DAR File No.: 43219
Filed: 09/21/2018 10:25:23 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) authorizes the Insurance Commissioner to write rules to implement the Insurance Code, Title 31A. This rule requires insurers of disability policies to clearly explain in their policies, group certificates, or outline of coverage forms, if the policy limits will be reduced as a result of other coverage.

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 Insurance Department has received no written comments regarding this rule during 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:

This rule provides protection for consumers by requiring disclosure of what other types of income are considered for reducing a benefit under a disability income policy. Without this rule, consumers may not realize that their policy benefits will be reduced if they are receiving benefits from other policies, social security, or workers' compensation. Therefore, this rule should be continued.

The full text of this rule may be inspected, during regular business hours, at the Office of Administrative Rules, or at:

Insurance
Administration
Room 3110 STATE OFFICE BLDG
450 N MAIN ST
SALT LAKE CITY, UT 84114-1201

Direct questions regarding this rule to:

• Steve Gooch at the above address, by phone at 801-538-3803, by FAX at 801-538-3829, or by Internet E-mail at [email protected]

Effective:

09/21/2018

Authorized by:

Steve Gooch, Information Specialist