Utah Statutes
§ 31A-37-404 — Sponsored captive insurance companies -- Reserves opinion and discounting.
Utah·Title 31A Insurance Code·Ch. 31A-37 Captive Insurance Companies Act·Part 31A-37-4 Sponsored Captive Insurance Companies
(1)A sponsored captive insurance company may discount the sponsored captive insurance company's loss and loss adjustment expense reserves at treasury rates applied to the applicable payments projected through the use of the expected payment pattern associated with the reserves.
(2)(2)(a) A sponsored captive insurance company shall annually file with the department an actuarial opinion provided by an independent actuary on loss and loss adjustment expense reserves.
(2)(b) The independent actuary described in Subsection (2)(a) may not be an employee of:
(2)(b)(i) the company filing the actuarial opinion; or
(2)(b)(ii) an affiliate of the company filing the actuarial opinion.
(3)The commissioner may disallow the discounting of reserves by a sponsored captive insurance company if the sponso
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Utah § 31A-37-404 (Sponsored captive insurance companies -- Reserves opinion and discounting.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Chapter 175, 2025 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.