Section 31A-1-102 - PurposesThe purposes of the Insurance Code are to:
(1) ensure the solidity of insurers doing business in Utah;(2) ensure that policyholders, claimants, and insurers are treated fairly and equitably;(3) ensure that Utah has an adequate and healthy insurance market, characterized by competitive conditions, the spirit of innovation, and the exercise of initiative;(4) provide for an insurance department that is expert in the field of insurance and able to enforce the Insurance Code effectively;(5) encourage cooperation between the Insurance Department and other Utah regulatory bodies, as well as other federal and state governmental entities;(6) preserve and improve state regulation of insurance;(7) maintain freedom of contract and enterprise;(8) encourage self regulation of the insurance industry;(9) encourage loss prevention as part of the insurance industry;(10) keep the public informed on insurance matters; and(11) achieve other purposes stated elsewhere in the Insurance Code.Enacted by Chapter 242, 1985 General Session