DAR File No. 43513
This notice was published in the March 1, 2019, issue (Vol. 2019, No. 5) of the Utah State Bulletin.
Insurance, Administration
Rule R590-252
Use of Senior-Specific Certifications and Professional Designations
Five-Year Notice of Review and Statement of Continuation
DAR File No.: 43513
Filed: 02/11/2019 02:35:22 PM
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)(a) authorizes the Insurance Commissioner to implement the provisions of the Insurance Code, Title 31A. Subsection 31A-23a-402(8)(a) authorizes the Insurance Commissioner to define, by rule, unfair methods of competition, and unfair or deceptive acts or practices in the business of insurance. Section R590-252-5 lists specific prohibitions against the use of senior-specific certifications or professional designations in the sale of insurance to seniors. Section R590-252-6 specifies penalties for violation of this rule.
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 (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 sets forth standards to protect consumers from misleading and deceptive marketing practices with respect to the use of senior-specific certifications and professional designations in the solicitation, sale or purchase of, or advice made in connection with, an annuity, accident and health, or life insurance product. Seniors are often the focus of unfair methods of competition and deceptive acts or practices in the sale of insurance. This rule helps the Department regulate against these practices. 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:
InsuranceAdministration
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:
02/11/2019
Authorized by:
Steve Gooch, Information Specialist
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/2019/b20190301.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 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]. For questions about the rulemaking process, please contact the Office of Administrative Rules.