Utah Administrative Code
The Utah Administrative Code is the body of all effective administrative rules as compiled and organized by the Division of Administrative Rules (see Subsection 63G-3-102(5); see also Sections 63G-3-701 and 702).
NOTE: For a list of rules that have been made effective since January 1, 2020, please see the codification segue page.
NOTE TO RULEFILING AGENCIES: Use the RTF version for submitting rule changes.
R708. Public Safety, Driver License.
Rule R708-19. Automobile No-Fault Self-Insurance.
As in effect on January 1, 2020
Table of Contents
- R708-19-1. Authority.
- R708-19-2. Purpose.
- R708-19-3. Amount of Deposit, Bond, or Letter of Credit.
- R708-19-4. Approved Methods.
- R708-19-5. General Rules.
- Date of Enactment or Last Substantive Amendment
- Notice of Continuation
- Authorizing, Implemented, or Interpreted Law
This rule is authorized by Section 41-12a-201.
The purpose of this rule is to set forth the methods approved by the department for providing the security required by Sections 41-12a-301 and 407. This rule is not intended to exclude any other methods of establishing equivalent security which may be approved by the department.
The Department requires an insurer to submit a certificate of self-funded coverage by depositing cash, a bond or letter of credit with the Department as per Section 41-12a-407.
(1) The following methods are approved by the department for meeting the requirements of providing equivalent security.
(a) Depositing with the department an amount in cash at least equal to minimum amounts specified hereinafter. The cash shall be held on deposit in accordance with Section 41-12a-406 by the Utah State Treasurer to satisfy approved claims and any executions on any judgment issued against such person making said deposit for damages or benefits provided under the Financial Responsibility of Motor Vehicle Owners and Operators Act. The deposit shall not be subject to attachment or executions except as shall arise from the enforcement of the Act.
(b) Posting with the department a bond, on a form approved by the department from a surety company authorized to do business in this state, providing for payment at least equal to minimum amounts specified hereinafter to assure payment of damages and benefits imposed by the Financial Responsibility of Motor Vehicle Owners and Operators Act.
(c) Delivering to the department a letter of credit, which is irrevocable as to beneficiary for one year, which covers the same amounts specified hereinafter to assure payment of damages and benefits imposed by the Financial Responsibility of Motor Vehicle Owners and Operators Act (41-12a-101).
(1) Each owner providing the equivalent security shall:
(a) Complete and have notarized and file an application obtained from and approved by the department.
(b) File an application for approval each year.
(c) Submit a detailed report to the department within 15 days after each accident for which benefits are claimed under this act, and
(d) Be subject to the same requirements and entitled to the same privileges as provided for insurance companies.
(e) Maintain a fleet of not less than 25 vehicles.
(2) In lieu of the foregoing, an owner may supply a certified copy of the Decision to Grant Self-Insurance from the Interstate Commerce Commission.
self insurance plans
January 19, 2016
41-12a-201; 41-12a-406; 41-12a-407
For questions regarding the content or application of rules under Title R708, please contact the promulgating agency (Public Safety, Driver License). A list of agencies with links to their homepages is available at http://www.utah.gov/government/agencylist.html or from http://www.rules.utah.gov/contact/agencycontacts.htm.