Utah Admin. Code R590-144-5 - Findings
(1) Pursuant to Subsection
31A-21-101(5),
the commissioner finds:
(a) the commercial
aviation market segment is highly specialized, competitive, and global in
nature;
(b) aviation insurance
premiums rely on individual risk analysis, underwriting judgment, and the
negotiation of a sophisticated business transaction between the insurer and an
informed insured; and
(c)
commercial aviation insurance risks have individually tailored manuscript-type
policies.
(2) The
commissioner finds that exemption from the rate and form filing requirements of
Title 31A, Insurance Code, will not harm Utah insureds, creditors, or the
public, and is not necessary to the regulation of these insurance
products.
Notes
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