Utah Code Title 13. Commerce and Trade § 13-64-202. Liability insurance--Security for payment--Provider net worth value

(i)(A) is issued by an insurer authorized to do business in this state that has a surplus as to policyholders and paid-in capital of less than $10,000,000 and more than $5,000,000 and provides evidence to the division that the insurer maintains a ratio of net written premiums to surplus as to policyholders and paid-in capital of not greater than three to one; or

(B) is issued by an insurer authorized to do business in this state that has as a surplus as to policyholders and paid-in capital of more than $10,000,000; and

(ii)(A) requires the insurer to reimburse the purchaser if the provider fails to perform the provider's obligations under a vehicle value protection agreement;

(B) covers any amount the provider is required to pay for failure to perform under a vehicle value protection agreement; and

(C) allows a purchaser to file with the insurer a claim for reimbursement under the vehicle value protection agreement if the provider does not pay the purchaser within 60 days after the day on which proof of damage, total loss, or unrecovered theft of the covered vehicle is provided to the provider in accordance with the terms of the vehicle value protection agreement;