§ 31A-43-302 — Stop-loss restrictions -- Filing requirements.

Utah § 31A-43-302

• Jurisdiction: Utah
• Title 31A: Insurance Code
• Ch. 31A-43: Small Employer Stop-Loss Insurance Act
• Part 31A-43-3: Stop-Loss Insurance

Text

(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:

(2)(a) an actuarial memorandum and certification which demonstrates that the insurer is in compliance with this chapter; and
(2)(b) the stop-loss insurer's stop-loss experience.
(3) An insurer shall maintain at its principal place of business:

(3)(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:
(3)(a)(i) based upon commonly accepted actuarial assumptions; and
(3)(a)(ii) in accordance with sound actuarial principles; and
(3)(b) a copy of the annual filing required by Subsection (2).

Legislative History

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