The purposes of the Insurance Code are to:

1. (1) ensure the solidity of insurers doing business in Utah;
2. (2) ensure that policyholders, claimants, and insurers are treated fairly and equitably;
3. (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. (4) provide for an insurance department that is expert in the field of insurance and able to enforce the Insurance Code effectively;
5. (5) encourage cooperation between the Insurance Department and other Utah regulatory bodies, as well as other federal and state governmental entities;
6. (6) preserve and improve state regulation of insurance;
7. (7) maintain freedom of contract and enterprise;
8. (8) encourage self regulation of the insurance industry;
9. (9) encourage loss prevention as part of the insurance industry;
10. (10) keep the public informed on insurance matters; and
11. (11) achieve other purposes stated elsewhere in the Insurance Code.

Enacted by Chapter 242, 1985 General Session