Utah Admin. Code R590-154-9 - Premium Reduction Through Commissions or Consulting Fees
(1) A licensee may not give or offer to give
a premium reduction through a commission or a consulting fee back to the
insurer for any purpose, including competition, unless the reduction is for
expense savings and is justified by a reasonable standard and with reasonable
accuracy.
(2)
(a) An insurer's underwriting files must
document any savings to enable the commissioner to verify compliance.
(b) The documentation must
demonstrate legitimate expense savings realized by the insurer and its
producer.
Notes
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