Utah Code 31A-12-103. Rates charged to school districts
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Utah Code 31A-12-103
- Department: means the Insurance Department. See Utah Code 31A-1-301
- Filing: when used as a noun, means an item required to be filed with the department including:(70)(a) a policy;(70)(b) a rate;(70)(c) a form;(70)(d) a document;(70)(e) a plan;(70)(f) a manual;(70)(g) an application;(70)(h) a report;(70)(i) a certificate;(70)(j) an endorsement;(70)(k) an actuarial certification;(70)(l) a licensee annual statement;(70)(m) a licensee renewal application;(70)(n) an advertisement;(70)(o) a binder; or(70)(p) an outline of coverage. See Utah Code 31A-1-301
- Rate: means :
(163)(a)(i) the cost of a given unit of insurance; or(163)(a)(ii) for property or casualty insurance, that cost of insurance per exposure unit either expressed as:(163)(a)(ii)(A) a single number; or(163)(a)(ii)(B) a pure premium rate, adjusted before the application of individual risk variations based on loss or expense considerations to account for the treatment of:(163)(a)(ii)(B)(I) expenses;(163)(a)(ii)(B)(II) profit; and(163)(a)(ii)(B)(III) individual insurer variation in loss experience. See Utah Code 31A-1-301- Risk Management Fund: means the fund created under Section 63A-4-201. See Utah Code 31A-12-101
The rates charged to school districts for policies issued under Section 63A-4-204 are not subject to Chapter 19a, Utah Rate Regulation Act, except for the filing requirement of Subsection 31A-19a-203(1) and the public availability requirement of Section 31A-19a-204. Rate filing fees under Section 31A-3-103 shall be paid to the department by the Risk Management Fund.
- Rate: means :