No. 38282 (5-year Review): Rule R590-252. Use of Senior-Specific Certifications and Professional Designations

DAR File No.: 38282
Filed: 02/11/2014 09:54:58 AM

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:

Subsection 31A-2-201(3)(a) authorizes the commissioner to implement the provisions of Title 31A. Subsection 31A-23a-402(8)(a) authorizes the commissioner to define by rule unfair methods of competition and unfair or deceptive acts or practices in the business of insurance. Section R590-252-5 of the rule lists specific prohibitions against the use of senior-specific certifications or professional designations in the sale of insurance to seniors. Section R590-252-6 of the rule specifies penalties for violation of this rule.

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 in 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 sets forth standards to protect consumers from misleading and deceptive marketing practices with respect to the use of senior-specific certifications and professional designations in the solicitation, sale or purchase of, or advise made in connection with, an annuity, accident and health, or life insurance product. Seniors are often the focus of unfair methods of competition and deceptive acts or practices in the sale of insurance. This rule helps the department regulate against these practices. 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 84114-1201

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]

Effective:

02/11/2014

Authorized by:

Todd Kiser, Commissioner

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