2006 Utah Code - 31A-1-102 — Purposes.

     31A-1-102.   Purposes.
     The 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

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