HB 58 Utah House · 2026 General Session

Insurance Code Modifications

HB 58 modifies Utah's insurance code to update regulatory processes and requirements. It requires insurance companies and title producers to pay examination costs, report wire transfer issues, and provide closing protection letter details to consumers. The bill mandates quarterly financial reports for insurers, increases liability coverage for title producers, and adds new reporting rules for public adjusters. These changes directly affect insurers, title insurance producers, and consumers by altering financial reporting, operational standards, and consumer disclosures. The bill makes technical updates to 30+ insurance code sections without appropriating new funds.

Bill status signed all 5 stages cleared

Introduction

Jan 2026

Committee Review

Feb 2026

House Passage

Mar 2026

Senate Passage

Feb 2026

Signed into Law

Mar 2026

Introduced Jan 20, 2026 Signed Mar 17, 2026

Maddy AI version diff · 3 comparisons

What changed between versions

Substitute #2 → Enrolled · 10 edits · Mar 17, 2026

MAJOR

This bill updates Utah's insurance code to modernize regulations on insurance fraud investigations, captive insurance fees, and public adjuster conduct. It adds new powers for the Insurance Commissioner to hire independent experts for financial examinations and allows exam costs to be paid directly by insurers. The bill also exempts risk retention groups from certain annual fees, requires mutual insurers to notify the commissioner before paying dividends, and establishes specific rules for dental service coverage and ambulance membership organizations.

Scope change

The bill expands the scope of regulatory authority by allowing the commissioner to hire external experts for examinations and by adding specific requirements for dental insurers and ambulance membership organizations. It also clarifies the applicability of certain statutes to commercially domiciled insurers.

ENFORCEMENT

Insurance fraud investigators are now authorized to be designated as law enforcement officers and eligible for public safety retirement benefits.

REQUIREMENT

The commissioner may now hire independent contractors (such as CPAs and IT specialists) to assist with financial examinations of licensees.

A civil penalty of up to $20,000 for directors or officers of insurance holding companies who violate certain reporting rules has been removed.

Public adjusters are now subject to new standards of conduct and record retention requirements.

Dental insurers are prohibited from charging fees for paper checks and must allow providers to opt out of participating in dental plans.

Ambulance membership organizations are now classified as limited health plans and are prohibited from selling memberships to individuals enrolled in Medicaid.

FISCAL

Insurers are required to pay the costs of examinations for their own producers, whereas previously the department often covered these costs.

ADDED

Mutual insurers and mutual insurance holding companies must file a schedule with the commissioner at least 30 days before distributing dividends.

ELIGIBILITY

Risk retention groups are exempt from paying the standard annual fee for captive insurance companies.

TIMELINE

The deadline for filing quarterly financial statements with the commissioner and NAIC was changed to within 45 days after the close of each quarter.

Substitute #1 → Substitute #2 · 7 edits

MODERATE

This bill significantly expands the Utah Insurance Code by adding comprehensive regulations for ambulance membership organizations, which were previously unregulated. It also introduces new requirements for dental insurance providers regarding jurisdiction and contract terms, updates health care preauthorization rules, and clarifies financial reporting for insurers. The changes aim to protect consumers by ensuring transparency in non-insurance health plans, improving oversight of dental service agreements, and strengthening the department's ability to examine and regulate licensees.

Scope change

The bill's scope expanded from primarily regulating traditional insurance entities to include new categories of health-related organizations (ambulance membership organizations) and specific regulatory requirements for dental service providers and health maintenance organizations.

SCOPE

Added a new chapter creating regulations for ambulance membership organizations, including definitions, licensing requirements, financial reserves, and restrictions on selling plans to Medicaid enrollees.

REQUIREMENT

Established new requirements for dental insurers to comply with Utah laws if 10% or more of their certificate holders are Utah residents, regardless of where the insurer is domiciled.

Amended health care preauthorization rules to require specific appeals processes, timely responses to requests, and detailed explanations for adverse determinations.

Increased the required fidelity bond or financial protection for title insurance producers from $250,000 to $500,000.

Updated examination cost provisions to clarify how independent contractors are paid and how deposits are used to cover unpaid examination fees.

DEFINITION

Added new definitions for terms such as 'ambulance membership organization,' 'limited health plan,' and 'uncovered expenditures' to clarify regulatory boundaries.

ENFORCEMENT

Expanded the commissioner's authority to take actions against title insurance producers, including freezing bank accounts and posting notices of violations.

Introduced → Substitute #1 · 8 edits

MODERATE

This bill amends the Utah Insurance Code to modernize regulations for title insurance producers, enhance oversight of captive insurance companies, and strengthen consumer protections for health care and public adjusters. Key changes include increasing liability coverage for title insurance producers from $250,000 to $500,000, adding new reporting requirements for failed electronic wire transfers, and establishing specific rules for risk retention groups to exempt them from certain annual fees. The bill also introduces stricter timelines for reporting wire transfer failures, expands the commissioner's authority to take administrative actions against title producers, and clarifies standards for health care claim payments and public adjuster contracts.

Scope change

The bill expands the scope of regulation to include specific new requirements for risk retention groups (exempting them from annual fees) and adds new administrative enforcement mechanisms for title insurance producers who fail to maintain appointments with insurers. It also broadens the applicability of certain health care preauthorization and claim payment rules.

REQUIREMENT

Increased the required fidelity bond or financial protection for title insurance producers from $250,000 to $500,000.

Added a requirement for title insurance producers to report failed electronic wire funds transfers within seven business days of becoming aware of the failure.

Added requirements for public adjusters to include specific notices in contracts stating they represent the insured only and prohibiting fee collection if the insurance company has not yet paid.

Added requirements for mutual insurers to notify the commissioner of dividend distributions at least 30 days in advance.

FISCAL

Modified the annual fee structure for captive insurance companies organized as risk retention groups, exempting them from the standard fee and capping their fee at 2% of gross premiums or $200,000.

ENFORCEMENT

Added new enforcement powers allowing the commissioner to freeze bank accounts, subpoena records, or enjoin business operations against title insurance producers who operate without an active appointment from a title insurer.

TIMELINE

Modified the reporting timeline for failed wire transfers, requiring reports within seven business days instead of the previous standard.

DEFINITION

Added new definitions and standards for 'qualified assets' and 'single risk' limitations to improve financial condition reporting for insurers.

Floor votes · Senate Feb 27, 2026 · House Feb 6, 2026

How they voted

24–0

Passed · 5 other

Total votes 29

Feb 27, 2026

D Democratic6

6 Yea

100% Yea

N Forward1

1 Yea

100% Yea

R Republican22

17 Yea 5

77% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Mar 17, 2026

Signed into law

Governor Signed

executive

Mar 3, 2026

Lower · Passed

House/ signed by Speaker/ sent for enrolling

lower

Mar 2, 2026

Lower · Passed

Senate/ signed by President/ returned to House

lower

Mar 2, 2026

Upper · Passed

House/ concurs with Senate amendment

upper

Feb 27, 2026

Introduced

Senate/ to House with amendments

lower

Feb 27, 2026

Lower · Passed

Senate/ passed 3rd reading

lower

Feb 18, 2026

Upper · Passed

Senate/ committee report favorable [Senate Business and Labor Committee]

upper

Feb 18, 2026

Upper · Passed

Senate Comm - Favorable Recommendation [Senate Business and Labor Committee]

upper

Feb 12, 2026

Committee

Senate/ to standing committee [Senate Business and Labor Committee]

upper

Feb 9, 2026

Introduced

Senate/ 1st reading (Introduced)

upper

Feb 6, 2026

Upper · Passed

House/ passed 3rd reading

upper

Jan 28, 2026

Lower · Passed

House/ comm rpt/ substituted [House Business, Labor, and Commerce Committee]

lower

Jan 27, 2026

Lower · Passed

House Comm - Favorable Recommendation [House Business, Labor, and Commerce Committee]

lower

Jan 22, 2026

Lower · Passed

House Comm - Not Considered [House Business, Labor, and Commerce Committee]

lower

Jan 20, 2026

Committee

House/ to standing committee [House Business, Labor, and Commerce Committee]

lower

Jan 20, 2026

Introduced

House/ 1st reading (Introduced)

lower

1 primary · 1 co-sponsor