No. 27717 (Amendment): R590-227-3. Incorporation by Reference

DAR File No.: 27717
Filed: 02/18/2005, 11:51
Received by: NL

 

RULE ANALYSIS

Purpose of the rule or reason for the change:

This rule is being changed to update the dates of documents incorporated by reference in the rule.

 

Summary of the rule or change:

The edition dates of two documents in Section R590-227-3 need to be updated to show the new revision dates of 2005.

 

State statutory or constitutional authorization for this rule:

Sections 31A-2-201 and 31A-2-202

 

This rule or change incorporates by reference the following material:

The NAIC Life, Accident and Health, Annuity, Credit Transmittal Document, January 1, 2005, edition; and the NAIC Uniform Life, Accident and Health, Annuity and Credit Coding Matrix, January 1, 2005, edition

 

Anticipated cost or savings to:

the state budget:

This change will have no impact on the state budget nor on the workload of the Insurance Department. There will be no change in the fees received by the department and no change in the workload.

 

local governments:

The changes to this rule will have no impact on local governments since the rule only deals with the relationship between life insurers licensed to do business in Utah and the Utah Insurance Department.

 

other persons:

This change will have no fiscal impact on life insurers doing business in Utah. They have already had input on the changes made to the two forms that have been revised and which they are already using. The new forms are downloaded by insurers from the National Association of Insurance Commissioners (NAIC) website for use when filing forms and rates with state insurance department. These forms have no impact on insureds and their coverage. As a result there will be no fiscal impact on the insurance consumer.

 

Compliance costs for affected persons:

This change will have no fiscal impact on life insurers doing business in Utah. They have already had input on the changes made to the two forms that have been revised and which they are already using. The new forms are downloaded by insurers from the NAIC website for use when filing forms and rates with the state insurance department. These forms have no impact on insureds and their coverage. As a result there will be no fiscal impact on the insurance consumer.

 

Comments by the department head on the fiscal impact the rule may have on businesses:

These changes will have no fiscal impact on Utah businesses. D. Kent Michie, Insurance Commissioner

 

The full text of this rule may be inspected, during regular business hours, at the Division 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:

Jilene Whitby at the above address, by phone at 801-538-3803, by FAX at 801-538-3829, or by Internet E-mail at [e-mail]

 

Interested persons may present their views on this rule by submitting written comments to the address above no later than 5:00 p.m. on:

04/14/2005

 

This rule may become effective on:

04/15/2005

 

Authorized by:

Jilene Whitby, Information Specialist

 

 

RULE TEXT

R590. Insurance, Administration.

R590-227. Submission of Annuity Filings.

R590-227-3. Incorporation by Reference.

(1) The department requires that documents described in this rule must be used for all filings. Actual copies may be used or you may adapt them to your word processing system. If adapted, the content, size, font, and format must be similar.

(2) The following documents are hereby incorporated by reference and are available at www.insurance.utah.gov.

(a) "NAIC Life, Accident and Health, Annuity, Credit Transmittal Document," dated January 1, [2003]2005.

(b) "NAIC Uniform Life, Accident and Health, Annuity and Credit Coding Matrix," dated January 1, [2003]2005.

(c) "NAIC Instruction Sheet for Life, Accident and Health, Annuity, Credit Transmittal Document," dated January 1, 2003.

(d) "NAIC Instruction Sheet for Life, Accident and Health, Annuity, Credit Transmittal Document Form Filing Attachment," dated January 1, 2003.

(e) "Utah Annuity Filing Certification," dated May 1,2004.

(f) "Utah Life, Annuity, Credit Life, and Credit Accident and Health Group Questionnaire," dated May 1, 2004.

(g) "Utah Life, Annuity, Credit Life, and Credit Accident and Health Request for Discretionary Group Authorization," dated May 1, 2004.

 

KEY: annuity insurance filings

[April 8, 2004]2005

31A-2-201

31A-2-201.1

31A-2-202