Utah Admin. Code R590-130-7 - Necessity for Disclosing Policy Provisions Relating to Renewability, Cancelability, and Termination
(1) An
advertisement that is an invitation to contract shall disclose, in a manner
that does not minimize or obscure the qualifying conditions, provisions
regarding the following:
(a) cancellation,
renewability, and termination; and
(b) modification of benefits, losses covered,
or premiums.
(2) An
advertisement may only use the term "noncancelable" to advertise a policy that:
(a) the insured has the right to continue in
force coverage by timely paying the policy's premiums; and
(b) the insurer has no right to change
provisions in the policy while the policy is in force.
(3) An advertisement may only use the term
"guaranteed renewable" to advertise a policy that:
(a) the insured has the right to continue in
force by timely paying the policy's premiums; and
(b) the insurer has no right to change
provisions in the policy while the policy is in force, except that the insurer
may make premium rate changes.
Notes
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