Utah has recently enacted House Bill 410, a comprehensive insurance omnibus bill that introduces several changes to the insurance landscape in the state. The bill, which amends the Insurance Code, the Public Employees' Benefit and Insurance Program Act, and related provisions, was signed into law by the Governor on March 14, 2023, and officially took effect on May 3, 2023.

Key Highlights of HB 410:

1. Streamlined Service of Process: Section § 31A-2-310 introduces an essential requirement by adding a certificate of proof of service of process when serving the commissioner or lieutenant governor as an agent for an insurer, producer, or reinsurer. 

2. Enhanced Filing Requirements: Under section § 31A-4-113.5, HB 410 brings about important changes to filing requirements. It adds dates for the annual statement filing and the market conduct annual statement filing. 

3. Combatting Fraudulent Insurance Acts: Section § 31A-31-110 strengthens the mandatory reporting of fraudulent insurance acts. It specifies the appropriate means through which such acts should be reported to the commissioner, ensuring a proactive approach to detecting and combating insurance fraud.

The above amendments are only a part of the comprehensive provisions introduced by HB 410.

Link to UT HB 410