# Utah Code § 31A-19a-201: Rate standards > Utah · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_UT_T31A_S31A_19a_201 ## Section - **Citation:** Utah Code § 31A-19a-201 - **Heading:** Rate standards - **Jurisdiction:** Utah - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** Utah Code / Title 31A / Chapter 31A-19a / § 31A-19a-201 ## Text (1) Rates may not be excessive, inadequate, or unfairly discriminatory. (2) (a) Rates are not excessive if a reasonable degree of price competition exists at the consumer level with respect to the class of business to which they apply. In determining whether a reasonable degree of price competition exists, the commissioner shall consider: (i) relevant tests of workable competition pertaining to: (A) market structure; (B) market performance; and (C) market conduct; and (ii) the practical opportunities available to consumers in the market to: (A) acquire pricing and other consumer information; and (B) compare and obtain insurance from competing insurers. (b) The tests described in Subsection (2)(a) include: (i) the size and number of insurers actively engaged in the market and class of business; (ii) the market shares of insurers actively engaged in the market and changes in market shares; (iii) the existence of rate differentials in that class of business; (iv) ease of entry and latent competition of insurers capable of easy entry; (v) availability of consumer information concerning the product and sales outlets or other sales mechanisms; and (vi) efforts of insurers to provide consumer information. (c) If reasonable price competition does not exist, rates are excessive if: (i) rates are likely to produce a long-term profit that is unreasonably high in relation to the riskiness of the class of business; or (ii) expenses are unreasonably high in relation to the services rendered. (3) Rates are inadequate if: (a) they are clearly insufficient, when combined with the investment income attributable to them, to sustain the projected losses and expenses in the class of business to which they apply; and (b) the use of such rates has or, if continued, will have: (i) the effect of substantially lessening competition; or (ii) the tendency to create a monopoly in any market. (4) (a) A rate is unfairly discriminatory if price differentials fail to equitably reflect the differences in expected losses and expenses after allowing for practical limitations. (b) A rate is not unfairly discriminatory if it is averaged broadly among persons insured under a: (i) group, franchise, or blanket policy; or (ii) mass marketed plan. ## Nearby sections - [Utah Code § 31A-19a-101 § 31A-19a-101. Title -- Scope and purposes.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T31A_S31A_19a_101.md) - [Utah Code § 31A-19a-102 § 31A-19a-102. Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T31A_S31A_19a_102.md) - [Utah Code § 31A-19a-103 § 31A-19a-103. Exemptions.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T31A_S31A_19a_103.md) - [Utah Code § 31A-19a-201 § 31A-19a-201. Rate standards.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T31A_S31A_19a_201.md) - [Utah Code § 31A-19a-202 § 31A-19a-202. Rating methods.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T31A_S31A_19a_202.md) - [Utah Code § 31A-19a-203 § 31A-19a-203. Rate filings.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T31A_S31A_19a_203.md) - [Utah Code § 31A-19a-204 § 31A-19a-204. Rates open to inspection.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T31A_S31A_19a_204.md) - [Utah Code § 31A-19a-205 § 31A-19a-205. Delegation of rate making and rate filing obligation.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T31A_S31A_19a_205.md) - [Utah Code § 31A-19a-206 § 31A-19a-206. Disapproval of rates.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T31A_S31A_19a_206.md) - [Utah Code § 31A-19a-207 § 31A-19a-207. Delayed effect of rates.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T31A_S31A_19a_207.md) - [Utah Code § 31A-19a-208 § 31A-19a-208. Special restrictions on individual insurers.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T31A_S31A_19a_208.md) - [Utah Code § 31A-19a-209 § 31A-19a-209. Special provisions for title insurance.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T31A_S31A_19a_209.md) - [Utah Code § 31A-19a-210 § 31A-19a-210. Dividend and participating plans.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T31A_S31A_19a_210.md) - [Utah Code § 31A-19a-211 § 31A-19a-211. Premium rate reduction for seniors -- Motor vehicle accident prevention course -- Curriculum -- Certificate -- Exception.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T31A_S31A_19a_211.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_UT_T31A_S31A_19a_201. Check the current official text before relying on it. Not legal advice.