Utah Admin. Code R590-226-3 - Definitions
Terms used in this rule are defined in Section 31A-1-301. Additional terms are defined as follows:
(1)
"Certification" means a statement that a submitted filing is
compliant.
(2) "Compliant" means a
filing that is complete and complies with Title 31A, Insurance Code, and Title
R590, Administration.
(3) "Data
page" means the page or pages in a policy or certificate providing the specific
data for the insured and detailing the coverage provided.
(4) "Discretionary group" means a group that
is specifically authorized by the commissioner under Section
31A-22-509.
(5) "Electronic filing" means a filing
submitted using SERFF.
(6)
"Eligible group" means a group that meets the requirements in Sections
31A-22-501.1 through
31A-22-508.
(7) "File and use" means a filing is used,
sold, or offered for sale after it is filed with the department.
(8) "Filing objection letter" means a letter
issued by the commissioner when a review of a filing determines the filing is
not compliant and may require:
(a) correction
of non-compliant items;
(b)
clarification; or
(c) additional
information related to the filing.
(9) "Letter of authorization" means a letter
signed by an officer of the insurer giving authority to a third party to submit
a filing on behalf of the insurer.
(10) "NAIC Product Coding Matrix" means a
numerical coding system developed by the NAIC that provides uniform naming
convention, uniform terminology, and uniform description for a type of
insurance product in a filing.
(11)
"Order to prohibit use" means an order issued by the commissioner prohibiting
the use of a filing.
(12)
"Qualified actuary" means an individual who is qualified to sign the applicable
state of actuarial opinion in accordance with the American Academy of Actuaries
qualification standards.
(13)
"Rejected" means a filing is:
(a) not
compliant;
(b) returned to the
insurer stating the reason for rejection; and
(c) not considered filed with the
department.
(14)
"Resubmission" means a correction, modification, or replacement of a previously
rejected, withdrawn, or prohibited filing.
(15) "SERFF" means the System for Electronic
Rate and Form Filing.
(16) "Type of
insurance" or "TOI" means:
(a) a specific life
insurance product identified by the NAIC Product Coding Matrix including term,
universal, variable, or whole life; and
(b) a TOI that can be selected in SERFF when
submitting a filing in Utah.
(17) "Utah filed date" means the date the
department indicates a paper filing is accepted.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.