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2004 Summary of New State Laws - Utah
Issue |
Bill # |
Bill Description |
Captives |
Amends the state's captive insurance companies act by establishing related statutory definitions, insurance commissioner authorities, and regulations specific to special purpose captive insurers, sponsored captive companies, discounting of loss and loss adjustment expenses, incorporation as well as capitalization and reserve level requirements. Effective 5/3/04. Chapter 312, Laws of 2004. |
|
CLUE |
Prohibits premium increases for certain claims or inquiries. It also makes numerous technical amendments to the Insurance Code. Effective 5/3/04. Chapter 117, Laws of 2004. |
|
CLUE |
Prohibits personal lines insurers from using certain types of losses, and from using certain inquiries, to make adverse eligibility or rate decisions. Effective 5/3/04. Chapter 266, Laws of 2004. |
|
Financial Regulation |
Modifies the dollar amount for transactions a liquidator may engage in without the permission of the court and make other changes relating to liquidation. Effective 5/3/04. |
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Fraud |
Amends and revises insurance code provisions pertaining to fraud by changing certain definitions, prohibiting individuals from acting as runners, clarifies treatment of certain nonlapsing funds, establishes civil penalties and addresses criminal conduct, requires disclosure of fraud tied to title insurance, and makes numerous technical changes. Effective 5/3/04. |
|
Licensure |
Requires providers of viatical settlements to file a license application and pay related fees. Effective 5/3/04. Chapter 106, Laws of 2004. |
|
Licensure |
Modifies the state insurance code related to insurer licensing by making changes to statutory definitions, initial and renewal application requirements, and cross-references. Repeals certain reporting requirements for appointments and for agency designations, requires producers to have experience with P/C to be eligible to add surplus lines, modifies record retention requirements, establishes privacy of certain records. Effective 5/3/04. |
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Miscellaneous Insurance Code Provisions |
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(State Insurance Code Exemptions) |
Provides an exemption from the insurance code for death, accident, health, and disability benefits provided by certain tax exempt organizations tax who have had their principal place of business in Utah for at least five years. Effective 5/3/04. Chapter 225, Laws of 2004. |
|
(Interstate Insurance Product Regulation) |
Establishes the Interstate Insurance Product Regulation Compact to govern interstate insurance products. Effective 5/3/04. Chapter 234, Laws of 2004. |
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Motor Vehicle Insurance |
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(PIP) |
Prohibits insurers issuing motor vehicle insurance policies that cover an at-fault driver from reducing compensation based on an injured party's failure to maintain a policy of insurance that provides personal injury protection (PIP) coverage. Effective 5/3/04. Chapter 126, Laws of 2004. |
|
(Traffic Safety) |
Amends the state motor vehicle code and code of criminal procedure to address DUI standards. Establishes specific plea bargain standards as well as a requirement that persons convicted of DUI may be required to undergo mental health assessment to ascertain whether substance abuse treatment is needed. Effective 5/3/04. Chapter 228, Laws of 2004. |
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(UM/UIM) |
Prohibits interpolicy stacking in uninsured (UM) and underinsured (UIM) motorist insurance. Effective 5/3/04. Chapter 304, Laws of 2004. |
|
Omnibus Insurance Code Changes |
Amends provisions of law pertaining to: definitions used in the Insurance Code; annual reports and record-keeping by the commissioner of insurance; annual statements; acquisitions and mergers; use of social security numbers; and trust obligations for funds collected by an insurer. Effective 3/10/04. Chapter 2, Laws of 2004. |
|
Rate Regulation |
Prohibits personal lines insurers from using certain types of losses, and from using certain inquiries, to make adverse eligibility or rate decisions. Effective 5/3/04. Chapter 266, Laws of 2004. |
|
State Building Codes |
Requires the Division of Occupational and Professional Licensing to adopt the following construction codes for the state and its political subdivisions to follow: (1) a residential one- and two-family dwelling code; (2) a fuel gas code; and (3) an energy conservation code. Effective 5/3/04. Chapter 110, Laws of 2004. |
|
Telephone Sales |
Amends the Telephone and Facsimile Solicitation Act by providing that the state no-call database applies only to unsolicited telephone calls. Insurers continue to be exempt from the Act. Effective 5/3/04. Chapter 263, Laws of 2004. |
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Workers' Compensation |
Requires injured employees and their physicians to comply with Labor Commission rules regarding disclosure of medical records relevant to the employee's industrial accident or occupational disease. Effective 5/3/04. |
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The information contained in this summary is not intended as a portrayal of every property/casualty-related law enacted in each state. Rather, it represents recently enacted legislation specifically identified by NAMIC State and Regulatory Affairs Staff as bearing direct relevance to those issues that represent NAMIC's National State Legislative Agenda or otherwise deemed pertinent to the interests of the majority of NAMIC members.
This summary is for use as a convenient tool for our members, and is not intended, and should not be considered to be, legal advice. Please consult your legal representatives.
Compliance Resources
Legislative and Regulatory Information Service (LARIS)
NAMIC Survey of New State Insurance Laws
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