No. 28678 (Amendment): R590-225. Submission of Property and Casualty Rate and Form Filings

DAR File No.: 28678
Filed: 04/27/2006, 07:55
Received by: NL

 

RULE ANALYSIS

Purpose of the rule or reason for the change:

This rule is being changed to update the publication date of an incorporation by reference document and to make changes to the filing correction and withdrawal instructions in Section R590-225-5.

 

Summary of the rule or change:

In Subsection R590-225-3(2), the publication dates of three NAIC documents are being updated. In Section R590-225-5, the department is eliminating the requirement for insurers to submit a transmittal in the case of punctuation or spelling errors on previously filed forms.

 

State statutory or constitutional authorization for this rule:

Sections 31A-2-201, 31A-2-201.1, 31A-2-202, and 31A-19a-203

 

This rule or change incorporates by reference the following material:

a) "NAIC Uniform Property and Casualty Transmittal Document", dated January 1, 2006; b) "NAIC Instruction Sheet for Property and Casualty Transmittal Document", dated January 1, 2006; and c) "NAIC Uniform Property and Casualty Coding Matrix", dated March 1, 2006

 

Anticipated cost or savings to:

the state budget:

The changes to this rule will not change the number of policy forms filed with the department but it will just reduce the need to attach a transmittal form to those minor spelling or punctuation form changes filed with the department. This will not increase or decrease our workload or revenues.

 

local governments:

This rule and its changes deal solely with the relationship between the department and its licensees and not local governments.

 

other persons:

The changes to this rule will allow property and casualty insurers to file minor changes in their policy and endorsement forms with the department without a transmittal form. Since the transmittal form is now six pages long this change will save companies time but not money except for the minor cost of the form itself.

 

Compliance costs for affected persons:

The changes to this rule will allow property and casualty insurers to file with the department minor changes to their policies and endorsement forms without a transmittal form. Since the transmittal form is now six pages long it will save companies time but probably not money, except the minor cost of the form itself.

 

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

The changes to this rule will have only a minor fiscal impact on businesses. D. Kent Michie, 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:

06/14/2006

 

This rule may become effective on:

06/15/2006

 

Authorized by:

Jilene Whitby, Information Specialist

 

 

RULE TEXT

R590. Insurance, Administration.

R590-225. Submission of Property and Casualty Rate and Form Filings.

R590-225-3. Documents Incorporated by Reference.

(1) The department requires that the documents described in this rule shall 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 filing documents are hereby incorporated by reference and are available on the department's web site, http://www.insurance.utah.gov/RF-Flgs.html.

(a) "NAIC Uniform Property and Casualty Transmittal Document", dated January 1, 200[5]6;

(b) "NAIC Instruction Sheet for Property and Casualty Transmittal Document", dated January 1, 200[3]6;

(c) "NAIC Uniform Property and Casualty Coding Matrix", dated [January 1, 2005]March 1, 2006;

(d) "Utah Insurer Loss Cost Multiplier and Expense Constant Supplement Filing Forms", dated October 2003;

(e) "Utah Workers Compensation Insurer Loss Cost Multiplier Filing Form", dated October 2003.

 

R590-225-5. General Filing Information.

(1) Each filing submitted must be accurate, consistent, complete, and contain all required documents in order for the filing to be processed in a timely and efficient manner. The commissioner may request any additional information deemed necessary.

(2) Insurers and filers are responsible for assuring compliance with Utah laws and rules. Filings not in compliance with Utah laws and rules are subject to regulatory action under Section 31A-2-308.

(3) Rates, supplementary information, and forms applying to a specific program or product may be submitted as one filing.

(4) A filing that does not comply with this rule will be rejected as incomplete and returned to the filer. A rejected filing is not considered filed with the department.

(5) Prior filings will not be researched to determine the purpose of the current filing.

(6) The department does not review or proofread every filing.

(a) A filing may be reviewed:

(i) when submitted;

(ii) as a result of a complaint;

(iii) during a regulatory examination or investigation; or

(iv) at any other time the department deems necessary.

(b) If a filing is reviewed and is not in compliance with Utah laws and rules, an ORDER TO PROHIBIT USE will be issued to the filer. The commissioner may require the filer to disclose deficiencies in forms or rating practices to affected consumers.

(7) Filing correction:

(a) No filing transmittal is required when making a correction to misspelled words and punctuation in [clerical or typographical corrections are made to] a filing[ previously filed if the corrected filing is submitted within 30 days of the date "Filed" with the department. The filer will need to reference the original filing]. This filing will be considered informational.

(b) No transmittal is required when a clerical correction is made to a previous filing if submitted within 30 days of the date "Filed" with the department. The filer must reference the original filing or include a copy of the original transmittal.

[(b)](c) A new filing is required if [the]a clerical [or typographical ]correction[s are] is made more than 30 days after the [filed ]date "Filed" with the department[of the original filing]. The filer [will need to]must reference the original filing or include a copy of the original transmittal.

(8) Filing withdrawal. A filer must notify the department when [the filer withdraws]withdrawing a previously filed form, rate, or supplementary information.

 

KEY: property casualty insurance filing

Date of Enactment or Last Substantive Amendment: [July 22, 2005]2006

Authorizing, and Implemented or Interpreted Law: 31A-2-201; 31A-2-201.1; 31A-2-202; 31A-19a-203