No. 34714 (5-year Review): Rule R590-208. Uniform Application for Certificates of Authority

DAR File No.: 34714
Filed: 04/25/2011 02:28:57 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 Title 31A of the Utah Code. Subsection 31A-2-202(2)(c) authorizes the commissioner to require financial reporting on forms provided by the National Association of Insurance Commissioners (NAIC). The purpose of the rule is to ensure that the commissioner's requirements for domestic, foreign, and alien insurer applications to obtain a certificate of authority in Utah shall be consistent with requirements of other states by using forms provided by the NAIC.

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 not received any written comments since the rule was first put into effect in 2006.

Reasoned justification for continuation of the rule, including reasons why the agency disagrees with comments in opposition to the rule, if any:

It is important that the department specify that insurers use the NAIC certificate of authority application provided by the NAIC so as to ensure uniform information from all insurers that apply. Therefore, this rule should be continued. By having the same certificate of insurance application, the Department makes it easier and less time consuming for insurers to apply for a certificate of insurance from more than one state at a time.

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

Insurance
Administration
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]

Authorized by:

Jilene Whitby, Information Specialist

Effective:

04/25/2011

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