Utah Statutes
§ 31A-22-1309 — Return of unearned premium upon cancellation of errors and omissions insurance.
Utah·Title 31A Insurance Code·Ch. 31A-22 Contracts in Specific Lines·Part 31A-22-13 Miscellaneous Provisions
(1)As used in this section, "unearned premium" means the amount of the premium that is collected by the insurer in excess of premium earned as of the date of the cancellation of the errors and omissions insurance policy.
(2)For an errors and omissions policy issued on or after May 14, 2013:
(2)(a) the policyholder may cancel the errors and omissions insurance policy before its expiration or renewal date according to the procedure for cancellation set forth in the errors and omissions policy; and
(2)(b) an insurer may not issue an errors and omissions policy that has fully earned premium upon issuance of the errors and omissions policy.
(3)If the errors and omissions insurance policy is cancelled as provided in Subsection (2), the insurer shall refund the unearned premium to the policyh
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Utah § 31A-22-1309 (Return of unearned premium upon cancellation of errors and omissions insurance.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Enacted by Chapter 205, 2013 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.