70C-6-203 - Filing and approval of rates and forms. - Utah Statutes

70C-6-203. Filing and approval of rates and forms.
(1) A creditor may use a form or a schedule of premium rates or charges concerningconsumer credit insurance only if the form or schedule has been on file with the InsuranceDepartment for at least 30 days and has not been disapproved by the Insurance Department or hasbeen specifically approved by the Insurance Department at any time after filing.
(2) Except as provided in Subsection (3), all policies, certificates of insurance, notices ofproposed insurance, applications for insurance, endorsements and riders relating to consumercredit insurance delivered or issued for delivery in this state, and the schedules of premium ratesor charges pertaining to them, shall be filed by the insurer with the Insurance Department. Within 30 days after the filing of any form or schedule, the Insurance Department shalldisapprove it if the premium rates or charges are unreasonable in relation to the benefits providedunder the form, or if the form contains provisions which are unjust, unfair, inequitable, ordeceptive, or encourages misrepresentation, or are contrary to any provisions of this title, or Title31A, Chapter 22, Part 8, Credit Life and Accident and Health Insurance, or of any rule adoptedunder that act or this title.
(3) If a group policy has been delivered in another state, the forms to be filed by theinsurer with the Insurance Department are the group certificates and notices of proposedinsurance. The Insurance Department shall approve those certificates and notices if:
(a) they provide the information that would be required if the group policy weredelivered in this state; and
(b) the applicable premium rates or charges do not exceed those established by theInsurance Department's rules.

Amended by Chapter 90, 2004 General Session