Utah Code 31A-23a-910. Travel administrators
Current as of: 2024 | Check for updates
|
Other versions
(1) A person may not act as or represent that the person is a travel administrator for travel insurance unless the person:
Terms Used In Utah Code 31A-23a-910
- Administrator: means the same as that term is defined in Subsection (187). See Utah Code 31A-1-301
- 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
- Insurer: is a s defined in Section 31A-1-301, except that the following persons or similar persons are not insurers for purposes of Part 7, Producer Controlled Insurers:(4)(a) a risk retention group as defined in:(4)(a)(i) the Superfund Amendments and Reauthorization Act of 1986, Pub. See Utah Code 31A-23a-102
- License: includes a certificate of authority issued to an insurer. See Utah Code 31A-1-301
- Managing general agent: means a person that:(6)(a)(i) manages all or part of the insurance business of an insurer, including the management of a separate division, department, or underwriting office;(6)(a)(ii) acts as an agent for the insurer whether it is known as a managing general agent, manager, or other similar term;(6)(a)(iii) produces and underwrites an amount of gross direct written premium equal to, or more than, 5% of the policyholder surplus as reported in the last annual statement of the insurer in any one quarter or year:(6)(a)(iii)(A) with or without the authority;(6)(a)(iii)(B) separately or together with an affiliate; and(6)(a)(iii)(C) directly or indirectly; and(6)(a)(iv)(6)(a)(iv)(A) adjusts or pays claims in excess of an amount determined by the commissioner; or(6)(a)(iv)(B) negotiates reinsurance on behalf of the insurer. See Utah Code 31A-23a-102
- 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
- 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
- Travel administrator: means a person who, in connection with travel insurance, directly or indirectly:(9)(a)(i) underwrites;(9)(a)(ii) collects a charge, collateral, or a premium from a resident of this state; or(9)(a)(iii) adjusts or settles a claim on a resident of this state. See Utah Code 31A-23a-902
- Travel insurance: means insurance coverage for personal risks incident to planned travel, including:(11)(a)(i) interruption or cancellation of a trip or event;(11)(a)(ii) loss of baggage or personal effects;(11)(a)(iii) damages to accommodations or rental vehicles;(11)(a)(iv) sickness, accident, disability, or death during travel;(11)(a)(v) emergency evacuation;(11)(a)(vi) repatriation of remains; or(11)(a)(vii) a contractual obligation that indemnifies or pays a specified amount to the traveler upon a determinable contingency related to travel. See Utah Code 31A-23a-902
(1)(a) is an insurance producer acting within the scope of the producer’s license;
(1)(b) is licensed as a managing general agent in accordance with Part 6, Managing General Agents; or
(1)(c) is licensed as a third party administrator in accordance with Chapter 25, Third Party Administrators.
(2) An insurer is responsible for:
(2)(a) an act of a travel administrator administering travel insurance the insurer underwrites; and
(2)(b) ensuring that the travel administrator maintains all books and records relevant to the insurer.
(3) A travel administrator shall make the books and records described in Subsection (2)(b) available to the commissioner upon the commissioner’s request.