Utah Code 31A-17-608. Confidentiality — Prohibition on announcements — Prohibition on use in ratemaking
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Terms Used In Utah Code 31A-17-608
- Affiliate: means a person who controls, is controlled by, or is under common control with, another person. See Utah Code 31A-1-301
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Filed: means that a filing is:(69)(a)(i) submitted to the department as required by and in accordance with applicable statute, rule, or filing order;(69)(a)(ii) received by the department within the time period provided in applicable statute, rule, or filing order; and(69)(a)(iii) accompanied by the appropriate fee in accordance with:(69)(a)(iii)(A) Section
31A-3-103 ; or(69)(a)(iii)(B) rule. See Utah Code 31A-1-301- Foreign insurer: means an insurer domiciled outside of this state, including an alien insurer. See Utah Code 31A-1-301
- Health organization: means :
(3)(a) an entity that is authorized under Chapter 7, Nonprofit Health Service Insurance Corporations, or Chapter 8, Health Maintenance Organizations and Limited Health Plans; and(3)(b) that is:(3)(b)(i) a health maintenance organization;(3)(b)(ii) a limited health service organization;(3)(b)(iii) a dental or vision plan;(3)(b)(iv) a hospital, medical, and dental indemnity or service corporation; or(3)(b)(v) other managed care organization. See Utah Code 31A-17-601- Insurance: includes :
(96)(b)(i) a risk distributing arrangement providing for compensation or replacement for damages or loss through the provision of a service or a benefit in kind;(96)(b)(ii) a contract of guaranty or suretyship entered into by the guarantor or surety as a business and not as merely incidental to a business transaction; and(96)(b)(iii) a plan in which the risk does not rest upon the person who makes an arrangement, but with a class of persons who have agreed to share the risk. See Utah Code 31A-1-301- Order: means an order of the commissioner. See Utah Code 31A-1-301
- Person: includes :
(146)(a) an individual;(146)(b) a partnership;(146)(c) a corporation;(146)(d) an incorporated or unincorporated association;(146)(e) a joint stock company;(146)(f) a trust;(146)(g) a limited liability company;(146)(h) a reciprocal;(146)(i) a syndicate; or(146)(j) another similar entity or combination of entities acting in concert. See Utah Code 31A-1-301- Premium: includes , however designated:
(156)(b)(i) an assessment;(156)(b)(ii) a membership fee;(156)(b)(iii) a required contribution; or(156)(b)(iv) monetary consideration. See Utah Code 31A-1-301- Proceeding: includes an action or special statutory proceeding. See Utah Code 31A-1-301
- producer: means a person licensed or required to be licensed under the laws of this state to sell, solicit, or negotiate insurance. 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- RBC: means risk-based capital. See Utah Code 31A-17-601
- RBC plan: means a comprehensive financial plan containing the elements specified in Subsection 31A-17-603(2). See Utah Code 31A-17-601
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
- Subpoena: A command to a witness to appear and give testimony.
- Total adjusted capital: means the sum of an insurer's or health organization's statutory capital and surplus as determined in accordance with:
(189)(a) the statutory accounting applicable to the annual financial statements required to be filed under Section31A-4-113 ; and(189)(b) another item provided by the RBC instructions, as RBC instructions is defined in Section31A-17-601 . See Utah Code 31A-1-301(1)(a) The commissioner shall keep confidential to the extent that information in a report or plan is not required to be included in a publicly available annual statement schedule, any detail in an RBC report or RBC plan including the results or report of any examination or analysis of an insurer or health organization performed pursuant to this part, that is filed by a domestic or foreign insurer or health organization with the commissioner or any corrective order issued by the commissioner pursuant to examination or analysis.(1)(b) Information kept confidential under Subsection (1)(a) may not be made public or be subject to subpoena, other than by the commissioner and then only for the purpose of enforcement actions taken by the commissioner pursuant to this part or any other provision of the insurance laws of this state.(2)(2)(a) Except as otherwise required under this part, any insurer or health organization, producer, or other person engaged in any manner in the insurance business may not publish, disseminate, circulate or place before the public, or cause, directly or indirectly, the publishing, disseminating, circulating or placing before the public including, in a newspaper, magazine, other publication, a notice, circular, pamphlet, letter, or poster, or over any radio or television station, an advertisement, announcement, or statement containing an assertion, representation, or statement with regard to the RBC levels of any insurer or health organization, or of any component derived in the calculation.(2)(b) If any materially false statement with respect to the comparison regarding an insurer’s or health organization’s total adjusted capital to its RBC levels, or an inappropriate comparison of any other amount to the insurer’s or health organization’s RBC levels is published in any written publication and the insurer or health organization is able to demonstrate to the commissioner with substantial proof the falsity of the statement or the inappropriateness, the insurer or health organization may publish an announcement in a written publication if the sole purpose of the announcement is to rebut the materially false statement or inappropriate comparison.(3) The commissioner may not use an RBC instruction, report, plan, or revised plan:(3)(a) for ratemaking;(3)(b) as evidence in any rate proceeding; or(3)(c) to calculate or derive any element of an appropriate premium level or rate of return for any line of insurance or coverage that an insurer or health organization or any affiliate is authorized to write or cover.