DAR File No. 43826

This notice was published in the July 15, 2019, issue (Vol. 2019, No. 14) of the Utah State Bulletin.

Insurance, Administration

Rule R590-254

Annual Financial Reporting Rule

Five-Year Notice of Review and Statement of Continuation

DAR File No.: 43826
Filed: 06/26/2019 11:31:02 AM


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(1) authorizes the Insurance Commissioner to make rules to implement the provisions of the Insurance Code, Title 31A. Subsections 31A-2-203(6)(b)(ii) and 31A-5-412(2)(f) authorize the Insurance Commissioner to make rules pertaining to annual financial reporting requirements.

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 (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 is important in fulfilling a major responsibility of the Department: To maintain oversight of the financial condition of insurers licensed to do business in Utah. One way this is done is by requiring insurers to submit annual reports and documents relating to their financial stability, as specified in this rule. Ensuring the financial strength of insurers doing business in Utah is important to maintaining the optimal operation of the market so policyholders can be made whole when they file covered claims. 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:

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]



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/b20190715.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.