DAR File No.: 35647
Filed: 01/10/2012 11:15:54 AMNOTICE 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:
Subsection 31A-2-201(3) authorizes the commissioner to establish by rule specific requirements for filing forms, rates, or reports required by the Utah Insurance Code; Section 31A-2-202 authorizes the commissioner to require statements, reports, and information to be delivered to the department or the National Association of Insurance Commissioners (NAIC) in a form specified by the commissioner; and Section 31A-4-113 authorizes the commissioner to prescribe by rule the information to be submitted with and the form of the annual statement. The rule provides instructions for the filing of annual and quarterly statements with supplemental schedules, exhibits, and documents by insurers.
Summary of written comments received during and since the last five-year review of the rule from interested persons supporting or opposing the rule:
No written comments have been received by the department within 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:
If this rule is not continued in force, it may create confusion for insurers regarding their quarterly and annual reporting requirements for the NAIC and the Utah Insurance Department. Annual and quarterly statements may be filed incorrectly more frequently resulting in costly and unnecessary follow-ups by both insurers and the department. Therefore, this rule should be continued.
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 84114-1201Direct 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 jwhitby@utah.gov
Authorized by:
Jilene Whitby, Information Specialist
Effective:
01/10/2012
Document Information
- Effective Date:
- 1/10/2012
- Publication Date:
- 02/01/2012
- Filed Date:
- 01/10/2012
- Agencies:
- Insurance,Administration
- Authorized By:
- Jilene Whitby, Information Specialist
- DAR File No.:
- 35647
- Related Chapter/Rule NO.: (1)
- R590-147. Annual Statement Instructions.