Title 31A Chapter 19a Section 407

Insurance Code
Utah Rate Regulation Act
Section 407
Cooperation among rating organizations and insurers

            

31A-19a-407.   Cooperation among rating organizations and insurers

            (1) Notwithstanding Section 31A-19a-305, rate service organizations and insurers may cooperate with each other in rate-making or in other matters within the scope of this part.

            (2) (a) The commissioner may review the cooperative activities and practices permitted under Subsection (1).

            (b) If, after a hearing, the commissioner finds any of the cooperative activities or practices permitted under Subsection (1) to be unfair, unreasonable, or otherwise inconsistent with the law, the commissioner may issue an order:

            (i) specifying in what respects the activity or practice is unfair, unreasonable, or otherwise inconsistent with the law; and

            (ii) requiring the persons or entities involved to discontinue the activity or practice.


Enacted by Chapter 130, 1999 General Session