31A-43-302. Stop-loss restrictions -- Filing requirements.
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Effective 5/13/2014
31A-43-302. Stop-loss restrictions -- Filing requirements.
(1)A stop-loss insurer shall file the stop-loss insurance contract form and rate methodology with the commissioner pursuant to Sections 31A-2-201 and 31A-2-201.1 before the stop-loss insurance contract may be issued or delivered in the state.
(2)A stop-loss insurer shall file with the commissioner, annually on or before April 1, in a form and manner required by the commissioner by administrative rule adopted by the commissioner:
(a)an actuarial memorandum and certification which demonstrates that the insurer is in compliance with this chapter; and
(b)the stop-loss insurer's stop-loss experience.
(3)An insurer shall maintain at its principal place of business:
(a)a complete and detailed description of its rating practices and renewal underwriting practices, including information and documentation that demonstrate the rating methods and practices are:
(i)based upon commonly accepted actuarial assumptions; and
(ii)in accordance with sound actuarial principles; and
(b)a copy of the annual filing required by Subsection
(2).
Amended by Chapter 290 , 2014 General Session
Amended by Chapter 300 , 2014 General Session