DAR File No. 43521
This notice was published in the March 1, 2019, issue (Vol. 2019, No. 5) of the Utah State Bulletin.
Insurance, Administration
Rule R590-225
Submission of Property and Casualty Rate and Form Filings
Five-Year Notice of Review and Statement of Continuation
DAR File No.: 43521
Filed: 02/13/2019 02:45:46 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) authorizes the Insurance Commissioner to write rules to implement the provisions of the Insurance Code, Title 31A. Section 31A-2-201.1 authorizes the Insurance Commissioner to write rules with specific requirements for filing forms, rates, binders, and reports to the Department of Insurance (Department). Subsection 31A-2-202(2) authorizes the Insurance Commissioner to prescribe forms to gather information or to use the National Association of Insurance Commissioners' annual statement forms to gather basic financial data and market regulation analysis. Section 31A-19a-203 allows the Insurance Commissioner to write rules to prescribe procedures for submitting rate filings electronically.
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 amended this rule in 2017, and received one industry comment at that time. The comment asked if the Department planned to issue a form or example for what an actuarial certification would look like. The Department answered the comment stating that the format of the certification is up to the carrier.
Reasoned justification for continuation of the rule, including reasons why the agency disagrees with comments in opposition to the rule, if any:
This rule is important as it gives detailed instructions on how a filer must file rates, rules, binders, and forms as required by Utah statute. 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 sgooch@utah.gov
Effective:
02/13/2019
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 sgooch@utah.gov. For questions about the rulemaking process, please contact the Office of Administrative Rules.