Utah Admin. Code R590-228-3 - Definitions
Terms used in this rule are defined in Sections 31A-1-301 and 31A-22-802. 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)
"Electronic filing" means a filing submitted using SERFF.
(4) "File and use" means a filing is used,
sold, or offered for sale after it is filed with the department.
(5) "File for approval" means a filing is
used, sold, or offered for sale after receiving written confirmation that the
filing is approved.
(6) "Filing
objection letter" means a letter issued by the commissioner when a review of
the 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.
(7) "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.
(8) "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.
(9)
"Order to prohibit use" means an order issued by the commissioner prohibiting
the use of a filing.
(10)
"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.
(11)
"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.
(12)
"Resubmission" means a correction, modification, or replacement of a previously
rejected, withdrawn, or prohibited filing.
(13) "SERFF" means the System for Electronic
Rate and Form Filing.
(14) "Type of
insurance" or "TOI" means:
(a) a specific
credit life insurance or credit accident and health insurance product
identified by the NAIC Product Coding Matrix including gross decreasing term,
net decreasing term, level term, open end, closed end, single premium, or
truncated coverage; and
(b) a TOI
that can be selected in SERFF when submitting a filing in Utah.
(15) "Utah filing date" means the
date the department indicates a paper filing is accepted.
Notes
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