31A-19a-208. Special restrictions on individual insurers.
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31A-19a-208. Special restrictions on individual insurers.
(1)The commissioner may require by order that a particular insurer file any or all of its rates and supplementary rate information 30 calendar days prior to their effective date, if the commissioner finds, after a hearing, that to protect the interests of the insurer's insureds and the public in Utah, the commissioner shall exercise closer supervision of the insurer's rates, because of the insurer's financial condition or rating practices.
(2)The commissioner may extend the waiting period described in Subsection
(1)for any filing for not to exceed 30 additional calendar days, by written notice to the insurer before the first 30-day period expires.
(3)A filing that has not been disapproved before the expiration of the waiting period is considered to meet the requirements of this chapter, subject to the possibility of subsequent disapproval under Section 31A-19a-206 .
Amended by Chapter 297 , 2011 General Session