DAR File No. 28488

Insurance, Administration

R590-226

Submission of Life Insurance Filings

NOTICE OF CHANGE IN PROPOSED RULE

DAR File No.: 28488
Filed: 03/24/2006, 09:59
Received by: NL

RULE ANALYSIS

Purpose of the rule or reason for the change:

The additional changes to this are to conform with other department filing rules.

Summary of the rule or change:

In Section R590-226-5, changes are being made to clarify procedures insurers can follow to correct policy forms they have filed with the department. (DAR NOTE: This change in proposed rule has been filed to make additional changes to a proposed amendment that was published in the February 15, 2006, issue of the Utah State Bulletin, on page 5. Underlining in the rule below indicates text that has been added since the publication of the proposed rule mentioned above; strike-out indicates text that has been deleted. You must view the change in proposed rule and the proposed amendment together to understand all of the changes that will be enforceable should the agency make this rule effective.)

State statutory or constitutional authorization for this rule:

Sections 31A-2-201, 31A-2-201.1, and 31A-2-202

Anticipated cost or savings to:

the state budget:

The amendments to this rule will create no change in the work done by department employees, nor will it change fees or revenues to the department and general fund.

local governments:

This rule does not affect local governments since it only applies to the relationship between the department and the licensed insurer.

other persons:

Insurers are already making corrections. These changes clarify the procedures for doing so. The changes will have no fiscal impact on insurers or their insureds.

Compliance costs for affected persons:

Insurers are already making corrections. These changes clarify the procedures for doing so. The changes will have no fiscal impact on insurers or their insureds.

Comments by the department head on the fiscal impact the rule may have on businesses:

This rule will have no fiscal impact on Utah businesses. D. Kent Michie, Commissioner

The full text of this rule may be inspected, during regular business hours, at the Division of Administrative Rules, or at:

Direct questions regarding this rule to:

Jilene Whitby at the above address, by phone at 801-538-3803, by FAX at 801-538-3829, or by Internet E-mail at jwhitby@utah.gov

Interested persons may present their views on this rule by submitting written comments to the address above no later than 5:00 p.m. on:

05/15/2006

This rule may become effective on:

05/16/2006

Authorized by:

Jilene Whitby, Information Specialist

RULE TEXT

R590. Insurance, Administration.

R590-226. Submission of Life Insurance Filings.

. . . . . . .

R590-226-5. General Filing Information.

(1) Each filing document submitted within the filing must be accurate, consistent, and complete. Each filing must contain all required documents in order for the filing to be processed in a timely and efficient manner. The commissioner may request any additional information deemed necessary.

(2) Insurers and filers are responsible for assuring compliance with Utah laws and rules. Filings not in compliance with Utah laws and rules are subject to regulatory action under Section 31A-2-308.

(3) Filing that do not comply with this rule will be rejected and returned to the filer. Rejected filings are not considered filed with the department.

(4) Prior filings will not be researched to determine the purpose of the current filing.

(5) The department does not review or proofread every filing.

(a) Filings may be reviewed:

(i) when submitted;

(ii) as a result of a complaint;

(iii) during a regulatory examination or investigation; or

(iv) at any other time the department deems necessary.

(b) If a filing is reviewed and is found to be not in compliance with Utah laws and rules, an ORDER TO PROHIBIT USE will be issued to the filer. The commissioner may require the filer to disclose deficiencies in forms or rating practices to affected policyholders.

(6) Filing correction:

(a) No filing transmittal is required when making corrections to misspelled words and punctuation in a filing. The filing will be considered an informational filing.

(b) No transmittal is required when clerical corrections are made to a previous filing if submitted within 30 days of the date filed with the department. The filer [will need to]must reference the original filing or include a copy of the original cover letter.

(c) A new filing is required if the clerical corrections are made more than 30 days after the date filed with the department. The filer must reference the original filing or include a copy of the original cover letter.

(7) Revised forms. A form that is revised from a previously filed form is considered a new form and must be filed[ for use]. The filer will need to reference the original filing and explain the changes to the form.

(8) Filing withdrawal. A filer must notify the department when withdrawing a previously filed form, rate, or supplementary information.

. . . . . . .

KEY: life insurance filings

Date of Enactment or Last Substantive Amendment: 2006

Authorizing, and Implemented or Interpreted Law: 31A-2-201; 31A-2-201.1; 31A-2-202

ADDITIONAL INFORMATION

PLEASE NOTE:

• Text to be deleted is struck through and surrounded by brackets (e.g., [example]). Text to be added is underlined (e.g., example). Some browsers may not depict some or any of these attributes on the screen or when the document is printed.
• Please see the DISCLAIMER regarding information available from state web pages.

For questions regarding the content or application of this rule, please contact Jilene Whitby at the above address, by phone at 801-538-3803, by FAX at 801-538-3829, or by Internet E-mail at jwhitby@utah.gov

For questions about the rulemaking process, please contact the Division of Administrative Rules (801-538-3764). Please Note: The Division of Administrative Rules is NOT able to answer questions about the content or application of these administrative rules.