Utah Admin. Code R590-199-5 - Implementation of Withdrawal
(1) A carrier
and all its affiliates withdrawing from the market must provide written notice
of the decision to withdraw to all affected insureds and to the insurance
commissioner in each state in which an affected insured resides.
(2) The carrier's certificate of authority
will be modified to prohibit writing business from which the carrier has
withdrawn.
(3) A carrier's
affiliates, as described in Subsection
31A-30-104(4),
may also be required to withdraw, as determined by the commissioner.
(4) Nonrenewal shall occur on the annual
renewal date.
Notes
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