Utah Code 31A-12-103. Rates charged to school districts
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Terms Used In Utah Code 31A-12-103
- Department: means the Insurance Department. See Utah Code 31A-1-301
- Filing: when used as a noun, means an item required to be filed with the department including:
(a) a policy; (b) a rate; (c) a form; (d) a document; (e) a plan; (f) a manual; (g) an application; (h) a report; (i) a certificate; (j) an endorsement; (k) an actuarial certification; (l) a licensee annual statement; (m) a licensee renewal application; (n) an advertisement; (o) a binder; or (p) an outline of coverage. See Utah Code 31A-1-301 - Rate: means :
(i) the cost of a given unit of insurance; or (ii) for property or casualty insurance, that cost of insurance per exposure unit either expressed as: (A) a single number; or (B) a pure premium rate, adjusted before the application of individual risk variations based on loss or expense considerations to account for the treatment of: (I) expenses; (II) profit; and (III) individual insurer variation in loss experience. See Utah Code 31A-1-301 - Risk Management Fund: means the fund created under Section 63A-4-201. See Utah Code 31A-12-101
The rates charged to school districts for policies issued under Section 63A-4-204 are not subject to Chapter 19a, Utah Rate Regulation Act, except for the filing requirement of Subsection 31A-19a-203(1) and the public availability requirement of Section 31A-19a-204. Rate filing fees under Section 31A-3-103 shall be paid to the department by the Risk Management Fund.Amended by Chapter 130, 1999 General Session
- Rate: means :