Section 302 – Stop-loss restrictions — Filing requirements.

• (1) A stop-loss insurer shall file the stop-loss insurance contract form and rate methodology with the commissioner pursuant to Sections 31A-2-201 and 31A-2-201.1 before the stop-loss insurance contract may be issued or delivered in the state.

• (2) A stop-loss insurer shall file with the commissioner, annually on or before April 1, in a form and manner required by the commissioner by administrative rule adopted by the commissioner:
  • (a) an actuarial memorandum and certification which demonstrates that the insurer is in compliance with this chapter; and
  • (b) the stop-loss insurer’s stop-loss experience.

• (3) An insurer shall maintain at its principal place of business:
  • (a) a complete and detailed description of its rating practices and renewal underwriting practices, including information and documentation that demonstrate the rating methods and practices are:
    • (i) based upon commonly accepted actuarial assumptions; and
    • (ii) in accordance with sound actuarial principles; and
  • (b) a copy of the annual filing required by Subsection (2).

Amended by Chapter 290, 2014 General Session
Amended by Chapter 300, 2014 General Session