31A-20-101. Underwriting limitations. No insurer may insure or attempt to insure against: (1) a wager or gaming risk; (2) loss of an election; (3) the penal consequences of a crime; or (4) punitive damages. Amended by Chapter 204, 1986 General Session
31A-20-102. Joint underwriting. (1) Every group, association, or other organization of insurers that engages in joint underwriting or joint reinsurance shall file with the commissioner: (a) a copy of its constitution, articles of incorporation, or agreement of association, and its bylaws or rules governing its activities, all certified by the custodian of the originals; (b) […]
31A-20-103. Classifications of insurance. The commissioner may by rule define lines and classes of insurance which are not already defined under Section 31A-1-301. These definitions may be used for any purposes within the commissioner’s regulatory power, including: (1) providing instructions for reports and replies under Section 31A-2-202; (2) controlling combinations of lines or classes of […]
31A-20-104. Combinations of policies. Except as otherwise provided in this chapter, the commissioner may by rule establish standards for the combination of different coverages in policies and may specify whether premiums shall be separately stated for each. Enacted by Chapter 242, 1985 General Session
31A-20-105. Indemnity agreements for surety corporation. In assessing the financial condition of a surety insurer and its underwriting capacity and limits, the commissioner shall take into account the existence of a systematic underwriting practice of indemnity or security arrangements under Section 31A-22-104. Enacted by Chapter 242, 1985 General Session
31A-20-106. Variable contracts. (1) (a) An insurer may not deliver or issue for delivery within this state an insurance policy that provides a life or annuity benefit in a variable amount until the insurer: (i) is licensed to do a life insurance or annuity business in this state; and (ii) satisfies the commissioner that the […]
31A-20-107. Reinsurance. (1) (a) An authorized insurer writing a nonassessable policy may assume as a reinsurer a risk it may write directly. (b) Subject to Chapter 5, Domestic Stock and Mutual Insurance Corporations, Chapter 6a, Service Contracts, Chapter 6b, Guaranteed Asset Protection Waiver Act, Chapter 7, Nonprofit Health Service Insurance Corporations, Chapter 8, Health Maintenance […]
31A-20-108. Single risk limitation. (1) This section applies to all lines of insurance, including ocean marine and reinsurance, except: (a) title insurance; (b) workers’ compensation insurance; (c) occupational disease insurance; (d) employers’ liability insurance; and (e) health insurance. (2) (a) Except as provided under Subsections (3) and (4) and under Section 31A-20-109, an insurer authorized […]
31A-20-109. Single risk limitation for title insurance. (1) As used in this section: (a) “Net retained liability” means the total potential liability retained by a title insurer for a single risk, after deducting liability reinsured for which credit may be taken under Section 31A-17-404. (b) “Single risk” means the sum of the potential liabilities under […]
Effective 5/12/2015 31A-20-110. Underwriting rules for title insurance. (1) A title insurance policy may not be written until the title insurer or its individual title insurance producer or agency title insurance producer has conducted a reasonable examination of the title and has made a determination of insurability of title under sound underwriting principles. Evidence of […]
