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Utah Code Title 31A. Insurance Code § 31A-22-2006. Rulemaking

Current as of January 01, 2025 | Updated by Findlaw Staff

In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commissioner:

(1) shall makes rules:

(a) in the event of a substantial rate increase, promoting premium adequacy and protecting the policy holder;

(b) establishing minimum standards for limited long-term care insurance marketing practices, producer compensation, producer testing, independent review of benefit determinations, penalties, and reporting practices;

(c) prescribing a standard format, including style, arrangement, and overall appearance of an outline of coverage;

(d) prescribing the content of an outline of coverage, in accordance with the requirements described in Subsection 31A-22-2004(5)(b);

(e) specifying the type of nonforfeiture benefits offered as part of a limited long-term care insurance policy or certificate;

(f) establishing the standards of nonforfeiture benefits; and

(g) establishing the rules regarding contingent benefits upon lapse, including:

(i) a determination of the specified period of time during which a contingent benefit upon lapse will be available; and

(ii) the substantial premium rate increase that triggers a contingent benefit upon lapse as described in Subsection 31A-22-2005(1); and

(2) may make rules establishing loss-ratio standards for limited long-term care insurance policies.

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Cite this article: FindLaw.com - Utah Code Title 31A. Insurance Code § 31A-22-2006. Rulemaking - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-31a-insurance-code/ut-code-sect-31a-22-2006/

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