Foreign insurer: means an insurer domiciled outside of this state, including an alien insurer. 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
NAIC: means the National Association of Insurance Commissioners. See Utah Code 31A-1-301
State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(a)
Each domestic, foreign, and alien insurer who is authorized to transact insurance business in this state shall annually file with the NAIC a copy of the insurer’s:
(i)
annual statement convention blank on or before March 1;
(ii)
market conduct annual statements:
(A)
on or before April 30, for all lines of business except health; and
(B)
on or before June 30, for the health line of business; and
(iii)
any additional filings required by the commissioner for the preceding year.
(b)
(i)
The information filed with the NAIC under Subsection (1)(a)(i) shall:
(A)
be prepared in accordance with the NAIC’s:
(I)
annual statement instructions; and
(II)
Accounting Practices and Procedures Manual; and
(B)
include:
(I)
the signed jurat page; and
(II)
the actuarial certification.
(ii)
An insurer shall file with the NAIC amendments and addenda to information filed with the commissioner under Subsection (1)(a)(i).
(c)
The information filed with the NAIC under Subsection (1)(a)(ii) shall be prepared in accordance with the NAIC’s Market Conduct Annual Statement Industry User Guide.
(d)
At the time an insurer makes a filing under this Subsection (1), the insurer shall pay any filing fees assessed by the NAIC.
(e)
A foreign insurer that is domiciled in a state that has a law substantially similar to this section shall be considered to be in compliance with this section.
(2)
All financial analysis ratios and examination synopses concerning insurance companies that are submitted to the department by the Insurance Regulatory Information System are confidential and may not be disclosed by the department.
(3)
The commissioner may suspend, revoke, or refuse to renew the certificate of authority of any insurer failing to:
(a)
submit the filings under Subsection (1)(a) when due or within any extension of time granted for good cause by:
(i)
the commissioner; or
(ii)
the NAIC; or
(b)
pay by the time specified in Subsection (3)(a) a fee the insurer is required to pay under this section to:
