Guam § 18308 - Form Approval: Health Insurance.

§ 18308. Form Approval: Health Insurance.

(a) No health insurance policy or endorsement shall be

delivered or issued for delivery in Guam unless the policy or

endorsement form is filed for approval with the Commissioner at

least forty-five (45) days prior to its effective date.

(b) The Commissioner shall review each health insurance

policy or endorsement filed for the purpose of determining the

following about the policy or endorsement:

(1) Whether it is in violation of this Chapter;

(2) Whether it contains any title, heading, or provision

that is misleading;

(3) Whether it contains provisions that are so unclear

or deceptively worded that they encourage

misrepresentation; or

(4) Whether it provides coverage of such a limited

nature that it is contrary to the public interest of Guam.

(c) Within forty-five (45) days after the filing of any health

insurance policy form or endorsement requiring approval

pursuant to this Section, the Commissioner will indicate

approval by signing or giving explanation for disapproval in

writing. The Commissioner, for good cause, may extend, for up

to an additional forty-five (45) days, the period within which he

shall approve or disapprove the policy form or endorsement.

COL6/24/2021

Good cause may include written notification to the insurer within

the first forty-five (45) days that its submission is incomplete,

and the items necessary to complete the submission. Any policy

form or endorsement received but neither approved nor

disapproved by the Commissioner shall be deemed approved at

the end of the forty-five (45) days if the period is not extended,

or at the end of the extended period, if any; however, no policy

form or endorsement shall be deemed approved under the

provisions of this Section unless written notice of the intent to

use the policy form or endorsement has been filed with the

Commissioner.

(d) If the Commissioner proposes to withdraw approval

previously given or deemed given to the policy form or

endorsement to which this Section applies, he shall notify the

insurer in writing at least ninety (90) days prior to the proposed

effective date of withdrawal giving his reasons for withdrawal.

(e) The policy and endorsement forms approved under this

Section shall be open to public inspection. Copies may be

obtained by any person on request and upon payment of a

reasonable charge for the copies.

(f) Every health insurance policy form filed with the

Commissioner for approval shall be accompanied by a filing fee

of Twenty Dollars ($20.00). An application for insurance and

other collateral documents which are not incorporated by

reference into a policy of insurance are not insurance policy

forms for the purpose of determining the filing fee.