Section 31A-22-2006 - RulemakingIn accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commissioner:
(1) shall makes rules:(a) in the event of a substantial rate increase, promoting premium adequacy and protecting the policy holder;(b) establishing minimum standards for limited long-term care insurance marketing practices, producer compensation, producer testing, independent review of benefit determinations, penalties, and reporting practices;(c) prescribing a standard format, including style, arrangement, and overall appearance of an outline of coverage;(d) prescribing the content of an outline of coverage, in accordance with the requirements described in Subsection 31A-22-2004(5)(b);(e) specifying the type of nonforfeiture benefits offered as part of a limited long-term care insurance policy or certificate;(f) establishing the standards of nonforfeiture benefits; and(g) establishing the rules regarding contingent benefits upon lapse, including: (i) a determination of the specified period of time during which a contingent benefit upon lapse will be available; and(ii) the substantial premium rate increase that triggers a contingent benefit upon lapse as described in Subsection 31A-22-2005(1); and(2) may make rules establishing loss-ratio standards for limited long-term care insurance policies.Added by Chapter 32, 2020 General Session ,§ 37, eff. 5/12/2020.