Utah Statutes
§ 31A-19a-214 — Rating tiers.
Utah·Title 31A Insurance Code·Ch. 31A-19a Utah Rate Regulation Act·Part 31A-19a-2 General Rate Regulation
(1)An insurer may file with the commissioner a rate filing that provides for a program with more than one rate level in the same company or group of companies if:
(1)(a) the program is based, to the extent feasible, upon mutually exclusive underwriting rules per tier;
(1)(b) the underwriting rules are based on clear, objective criteria that would lead to a logical distinguishing of potential risk; and
(1)(c) in filing to establish tiers, the insurer provides supporting information that evidences a clear distinction between the expected losses and expenses for each tier.
(2)A rating tier may not be continued if premium, loss, and expense data fail to show a continued clear distinction between the tiers.
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Legislative History
Enacted by Chapter 130, 1999 General Session
Nearby Sections
15
§ 31A-1-101
Short title.§ 31A-1-102
Purposes.§ 31A-1-103
Scope and applicability of title.§ 31A-1-104
Authorization to do insurance business.§ 31A-1-105
Presumption of jurisdiction.§ 31A-1-106
Residual unlicensed domestic insurers.§ 31A-1-107
Licensees under former Title 31.§ 31A-1-108
Corporations in the process of organizing.§ 31A-1-109
Name of licensee.§ 31A-1-110
Scope of a license.§ 31A-1-201
Construction.§ 31A-1-202
Effect of repeal of former provisions.§ 31A-1-203
Interpretive rules.§ 31A-1-205
Severability.§ 31A-1-301
Definitions.