Amends Utah insurance laws to modify provisions related to insurance companies, captive insurance companies, and title insurance producers.

This bill modifies Utah insurance laws by defining terms, authorizing insurance fraud investigators, and setting rules for examinations. It specifies that an insurance fraud investigator can investigate crimes committed by a department licensee. It also details the type of experts the commissioner can hire for examinations, and outlines the process for an insurer to pay claims and handle extensions. Additionally, it provides that a captive insurance company's excess surplus is defined as the company's assets that exceed 100% of the company's consolidated GAAP net worth.

Amends Utah insurance laws to modify provisions related to insurance companies, captive insurance companies, and title insurance producers.

This bill modifies Utah insurance laws by defining terms, authorizing insurance fraud investigators, and setting rules for examinations. It specifies that an insurance fraud investigator can investigate crimes committed by a department licensee. It also details the type of experts the commissioner can hire for examinations, and outlines the process for an insurer to pay claims and handle extensions. Additionally, it provides that a captive insurance company's excess surplus is defined as the company's assets that exceed 100% of the company's consolidated GAAP net worth.