Utah Administrative Code
Topic - Insurance
Title R590 - Administration
Rule R590-124 - Loss Information Rule
Section R590-124-3 - Definitions
Universal Citation: UT Admin Code R 590-124-3
Current through Bulletin 2024-06, March 15, 2024
Terms used in this rule are defined in Section 31A-1-301. Additional terms are defined as follows:
(1) "First named insured" means the first entity named as a named insured in the declarations of the policy.
(2) "Loss" means the dollar amount paid to an insured or claimant by an insurer on a claim made against an insurance contract.
(3) "Named insured" means a person or organization listed in the policy declarations as the policyholder, or the policyholder's legal representative.
(4) "Notice of occurrence" means notice to an insurer of an occurrence that might result in a claim against an insurance contract.
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