No. 41025 (5-year Review): Rule R590-91. Credit Life Insurance and Credit Accident and Health Insurance

DAR File No.: 41025
Filed: 11/17/2016 02:38:52 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:

Section 31A-2-201 gives the commissioner the authority to write rules to implement the provisions of Title 31A. The rule implements the provisions of Title 31A, Chapter 22, Part 9, regarding reasonable rating, policy form, and operating standards for the transaction of credit life insurance and credit accident and health insurance.

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 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 protects the interests of debtors and the public in this state and ensures a fair and equitable credit insurance market by establishing a system of reasonable rating, policy form, and operating standards for transaction of credit life, accident, and health insurance. 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
Administration
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 [e-mail]

Effective:

11/17/2016

Authorized by:

Steve Gooch, Information Specialist

---