Section 207 – Delayed effect of rates.
31A-19a-207. Delayed effect of rates. (1) (a) The commissioner may by rule require that insurers in a market segment file with the commissioner any changes in rates or supplementary rate information at least 30 calendar days before they become effective if the commissioner finds, after a hearing, that in that market segment: (i) competition is […]
Section 208 – Special restrictions on individual insurers.
31A-19a-208. Special restrictions on individual insurers. (1) The commissioner may require by order that a particular insurer file any or all of its rates and supplementary rate information 30 calendar days prior to their effective date, if the commissioner finds, after a hearing, that to protect the interests of the insurer’s insureds and the public […]
Section 209 – Special provisions for title insurance.
Effective 5/12/2015 31A-19a-209. Special provisions for title insurance. (1) (a) (i) The Title and Escrow Commission shall adopt rules subject to Section 31A-2-404, establishing rate standards and rating methods for individual title insurance producers and agency title insurance producers. (ii) The commissioner shall determine compliance with rate standards and rating methods for title insurers, individual […]
Section 210 – Dividend and participating plans.
31A-19a-210. Dividend and participating plans. (1) (a) This part does not prohibit the distribution by an insurer to a policyholder of any of the following allowed or returned by the insurer: (i) dividends; (ii) savings; or (iii) unabsorbed premium deposits. (b) Notwithstanding Subsection (1)(a), an insurer may not distribute dividends, savings, or unabsorbed premium deposits […]
Section 211 – Premium rate reduction for seniors — Motor vehicle accident prevention course — Curriculum — Certificate — Exception.
31A-19a-211. Premium rate reduction for seniors — Motor vehicle accident prevention course — Curriculum — Certificate — Exception. (1) (a) Each rate, rating schedule, and rating manual for the liability, personal injury protection, and collision coverages of private passenger motor vehicle insurance policies submitted to or filed with the commissioner shall provide for an appropriate […]
Section 202 – Rating methods.
31A-19a-202. Rating methods. (1) To determine whether rates comply with the standards under Section 31A-19a-201, the commissioner shall consider the: (a) criteria listed in Subsection (2); (b) classifications, if any, permitted under Subsection (3); (c) expenses described in Subsection (4); and (d) profits described in Subsection (5). (2) In determining rates the commissioner shall consider […]
Section 203 – Rate filings.
31A-19a-203. Rate filings. (1) (a) Except as provided in Subsections (4) and (5), every authorized insurer and every rate service organization licensed under Section 31A-19a-301 that has been designated by any insurer for the filing of pure premium rates under Subsection 31A-19a-205(2) shall file with the commissioner the following for use in this state: (i) […]
Section 201 – Rate standards.
31A-19a-201. Rate standards. (1) Rates may not be excessive, inadequate, or unfairly discriminatory. (2) (a) Rates are not excessive if a reasonable degree of price competition exists at the consumer level with respect to the class of business to which they apply. In determining whether a reasonable degree of price competition exists, the commissioner shall […]