DAR File No. 43737
This notice was published in the June 15, 2019, issue (Vol. 2019, No. 12) of the Utah State Bulletin.
Surplus Lines Procedures Rule
Five-Year Notice of Review and Statement of Continuation
DAR File No.: 43737
Filed: 05/23/2019 10:02:18 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:
Section 31A-2-201 authorizes the Insurance Commissioner to promulgate rules to implement the provisions of the Insurance Code, Title 31A. Subsection 31A-15-103(3) prescribes how a surplus lines producer may advertise surplus lines services, and make or seek remuneration for insurance placed by a surplus lines producer; this is done in Section R590-171-7. Subsection 31A-15-103(11) authorizes the Insurance Commissioner to establish an organization to examine surplus lines policies to ensure they comply with the requirements of the law and payment of taxes; this is done in Section R590-171-4. Section 31A-15-111 authorizes the Insurance Commissioner to require that surplus lines brokers be members of an advisory organization under this section of the law; this is done in Subsection R590-171-4(B) 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 Department of Insurance 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 defines the authority of the Surplus Lines Association, outlines the conditions for placing insurance with surplus lines insurers, and provides examination requirements for the Surplus Lines Association. This rule is necessary to provide a measure of accountability for the Surplus Lines Association and how this line of insurance is sold in Utah. 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
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 firstname.lastname@example.org
Steve Gooch, Information Specialist
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/b20190615.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@example.com. For questions about the rulemaking process, please contact the Office of Administrative Rules.