Utah Code 31A-30-102. Purpose statement

31A-30-102. Purpose statement.
The purpose of this chapter is to:

(1)	prevent abusive rating practices;

(a)

(i)	completed by an applicant to provide information about the risk to be insured; and

(ii)

that contains information that is used by the insurer to evaluate risk and decide whether to:

(A)

insure the risk under:

(I)	the coverage as originally offered; or

(II)	a modification of the coverage as originally offered; or

(B)	decline to insure the risk; or

(b)

used by the insurer to gather information from the applicant before issuance of an annuity contract. See Utah Code 31A-1-301

health insurance: means insurance providing:

(i)	a health care benefit; or

(ii)

payment of an incurred health care expense. See Utah Code 31A-1-301

Individual: means a natural person. See Utah Code 31A-1-301

Insurance: includes :

(i)	a risk distributing arrangement providing for compensation or replacement for damages or loss through the provision of a service or a benefit in kind;

(ii)	a contract of guaranty or suretyship entered into by the guarantor or surety as a business and not as merely incidental to a business transaction; and

(iii)	a plan in which the risk does not rest upon the person who makes an arrangement, but with a class of persons who have agreed to share the risk. See Utah Code 31A-1-301
(2)	require disclosure of rating practices to purchasers;

(3)

establish rules regarding:

(a)	a universal individual and small group application; and

(b)	renewability of coverage;

(4)	improve the overall fairness and efficiency of the individual and small group insurance market; and

(5)	provide increased access for individuals and small employers to health insurance.

Amended by Chapter 292, 2017 General Session