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This document includes House Floor Amendments incorporated into the bill on Wed, Feb 25, 2009 at 10:32 AM by jeyring. --> 1
7 LONG TITLE
8 General Description:
9 This bill modifies the Insurance Code to increase assessments paid by insurers to fund
10 costs and expenses incurred by the Department of Insurance in the administration,
11 investigation, and enforcement of provisions related to insurance fraud.
12 Highlighted Provisions:
13 This bill:
14 . increases the assessments paid by insurers on the basis of an insurer's Utah
15 consideration; H. [
15a . imposes a reporting requirement; and .H
16 . makes technical changes.
17 Monies Appropriated in this Bill:
19 Other Special Clauses:
21 Utah Code Sections Affected:
23 31A-31-108, as last amended by Laws of Utah 2008, Chapter 382
25 Be it enacted by the Legislature of the state of Utah:
26 Section 1. Section 31A-31-108 is amended to read:
27 31A-31-108. Assessment of insurers.
28 (1) For purposes of this section:
29 (a) The commissioner shall by rule made in accordance with Title 63G, Chapter 3,
30 Utah Administrative Rulemaking Act, define:
31 (i) "annuity consideration";
32 (ii) "membership fees";
33 (iii) "other fees";
34 (iv) "deposit-type contract funds"; and
35 (v) "other considerations in Utah."
36 (b) "Insurance fraud provisions" means:
37 (i) this chapter;
38 (ii) Section 34A-2-110 ; and
39 (iii) Section 76-6-521 .
41 (i) the total premiums written for Utah risks;
42 (ii) annuity consideration;
43 (iii) membership fees collected by the insurer;
44 (iv) other fees collected by the insurer;
45 (v) deposit-type contract funds; and
46 (vi) other considerations in Utah.
48 liability of persons residing in Utah, or on property located in Utah, other than property
49 temporarily in transit through Utah.
50 (2) To implement [
51 fraud provisions, the commissioner may assess [
52 nonadmitted insurer transacting insurance under Chapter 15, Parts 1, Unauthorized Insurers and
53 Surplus Lines, and 2, Risk Retention Groups Act, an annual fee as follows:
54 (a) [
56 (b) [
58 (c) [
60 (d) [
62 (e) [
64 (f) [
66 (3) (a) [
67 in the General Fund as a dedicated credit of the department for the purpose of providing funds
68 to pay for any costs and expenses incurred by the department in the administration,
69 investigation, and enforcement of [
70 insurance fraud provisions.
71 (b) [
72 incurred by the department in the administration, investigation, and enforcement of [
74a H. (4)(a) By no later than the last interim meeting of the Judiciary Interim Committee
74b each year beginning in 2012 and ending in 2017, the following shall report the information
74c described in Subsection (4)(b) to the Judiciary Interim Committee:
74d (i) the Insurance Department; and
74e (ii) the Office of the Attorney General.
74f (b) The information required to be reported under this Subsection (4) includes:
74g (i) the affect, if any, the annual fee assessed under this section has on the number and
74h nature of the prosecutions, convictions, and collection of restitution under insurance fraud
74i provisions; and
74j (ii) any other information requested by the Judiciary Interim Committee related to the
74k annual fee assessed under this section.
74l (c)(i) The Judiciary Interim Committee may recommend legislative action to the
74m Legislature regarding the annual fee assessed under this section.
74n (ii) The Judiciary Interim Committee shall recommend to the Legislature for
74o consideration during the 2018 General Session whether or not the reporting requirements
74p under this Subsection (4) should be extended beyond 2017. .H
Legislative Review Note
as of 1-22-09 1:38 PM