Section R590-144-5 - Findings(1) Pursuant to Subsection 31A-21-101(5), the commissioner finds: (a) the commercial aviation market segment is highly specialized, competitive, and global in nature;(b) aviation insurance premiums rely on individual risk analysis, underwriting judgment, and the negotiation of a sophisticated business transaction between the insurer and an informed insured; and(c) commercial aviation insurance risks have individually tailored manuscript-type policies.(2) The commissioner finds that exemption from the rate and form filing requirements of Title 31A, Insurance Code, will not harm Utah insureds, creditors, or the public, and is not necessary to the regulation of these insurance products.Utah Admin. Code R590-144-5
Amended by Utah State Bulletin Number 2021-23, effective 11/22/2021