Utah Code 63A-4-202. Determination of insurance premiums — Information furnished by covered entities — Notice to covered entities
Current as of: 2024 | Check for updates
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(1) Each covered entity shall provide the risk manager with all reasonable information necessary to compute insurance premiums whenever the risk manager requests that information.
Terms Used In Utah Code 63A-4-202
- Captive insurance company: means the same as that term is defined in Section 31A-37-102. See Utah Code 63A-4-101.1
- Covered entity: means a participating entity of:(2)(a) the Risk Management Fund; or(2)(b) any captive insurance company created by the risk manager. See Utah Code 63A-4-101.1(2)(2)(a) The risk manager shall charge to each entity that receives insurance coverage from the Risk Management Fund or any captive insurance company created by the risk manager its proportionate share of the cost incurred based upon actuarially sound rating techniques.(2)(b) The risk manager shall include in the premium determined under this section all costs of operating the Risk Management Fund as stated in Section 63A-4-201 and operating any captive insurance company created by the risk manager.(3) To enable each covered entity to meet its budgeting requirements, the risk manager shall provide each covered entity with projected insurance costs for the next two fiscal years within the time limits required.