reglab/statecodes huggingface dataset:
2023 Idaho Code › Title 41 - INSURANCE › Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT › Section 41-4937 - IMPAIRED TRUST FUND.

41-4937. IMPAIRED TRUST FUND. (1) If the assets of the trust fund are at any time insufficient to discharge its liabilities, and to maintain the required surplus, the administrator shall forthwith request authority from the director to make up the deficiency by borrowed surplus or other subordinated indebtedness.
(2) If the director finds that future estimated revenues from the transfer fees imposed under section 41-4909, Idaho Code, are not sufficient to justify any borrowed surplus funds or other subordinated indebtedness, then the director shall request the administrator to submit a plan of action whereby priority is given to the payment of cleanup costs of petroleum discharges that constitute a clear and present danger to persons or property, including discharges into underground or surface water that may seriously contaminate the water used for domestic and commercial use, agricultural products, livestock, fish, game and other wildlife. Consideration shall be given in this plan of action to establishing a claim payment priority based on the severity of the contamination, the possible endangerment of life and health including, but not limited to, possible toxic fumes, fire and explosion hazards, economic impact, population density, and the need for immediate cleanup action versus action that can be delayed with only minimal adverse effects. This plan of action shall also establish similar criteria for the prioritization of the payment of bodily injury and property damage claims.
(3) Upon receiving this plan of action, the director shall promptly hold a public hearing with appropriate notice to determine any possible adverse effects of the plan of action on the owners or operators of insured tanks, the claimants and potential claimants, and the environment. After giving due consideration to the testimony of those parties affected by the proposed plan of action, the director shall either approve or disapprove the plan in writing, stating the reasons therefor, so that a plan of action that does meet with the director’s approval can be placed into effect with due diligence and dispatch.
(4) Upon receiving the director’s approval of the plan of action, the administrator shall promptly commence the prioritization of claims and pay such valid and compensable claims according to this priority as funds become available from collection of the transfer fees.
History:
[(41-4937) 41-4940, added 1990, ch. 119, sec. 1, p. 286; am. 1991, ch. 59, sec. 26, p. 134; am. & redesig. 2003, ch. 96, sec. 41, p. 305.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT › Section 41-4938 - LIQUIDATION OF TRUST FUND.

41-4938. LIQUIDATION OF TRUST FUND. (1) The annual tank application fees and transfer fees are perpetually appropriated as dedicated funds for the purposes of this chapter, and the trust fund shall remain in existence as long as the need exists for the trust fund to insure the costs of corrective actions and the need exists for the trust fund to insure the legal liability of petroleum tank owners and operators as provided in this chapter.
(2) In the event other more appropriate means come into existence to provide the insurance provided by the trust fund, then the trust fund shall be liquidated according to the provisions of this section.
(3) Liquidation shall be conducted by the board under a written plan of liquidation filed with and approved by the director. If the director finds the plan to be fair and equitable to all persons having a pecuniary interest in the trust fund, he shall approve it. Any balance remaining after payment or adequate provision for payment of all claims and charges against the trust fund has been made shall be disposed of in the manner provided for in the plan of liquidation. Unless under the plan of liquidation the liability for all unpaid claims and obligations of the trust fund has been assumed by another financially responsible person or persons, the existence of surplus funds for such disposition shall not be determined prior to the expiration of two (2) years after termination of the certificate of registration issued to the trust fund as provided in section 41-4930(2), Idaho Code.
(4) After its approval by the director, the plan of liquidation for the trust fund shall be binding upon all persons pecuniarily interested in the trust fund. Pending the effectuation of the plan of liquidation the director may impose such prohibitions or restrictions upon disbursement or use of trust fund moneys as the director deems advisable for the protection of all interested persons.
(5) If the trust fund is then insolvent and a plan of liquidation thereof satisfactory to the director as being fair and equitable is not filed within sixty (60) days after the effective date of termination of the plan’s registration, or if liquidation of a solvent trust fund is not being carried out in accordance with the plan of liquidation theretofore approved by the director, the director shall liquidate the trust fund under the applicable provisions of chapter 33, title 41, Idaho Code, and for this purpose the trust fund shall be deemed to be an insolvent domestic insurer.
(6) If after all indebtedness and other obligations of the trust fund are discharged to the satisfaction of the director and the trust fund is dissolved, its remaining assets, if any, shall inure to the benefit of the state.
History:
[(41-4938) 41-4941, added 1990, ch. 119, sec. 1, p. 287; am. 1991, ch. 59, sec. 27, p. 135; am. & redesig. 2003, ch. 96, sec. 42, p. 306.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT › Section 41-4939 - VOUCHERS FOR EXPENDITURES.

41-4939. VOUCHERS FOR EXPENDITURES. (1) The administrator of the trust fund shall not make any disbursement of twenty-five dollars ($25.00) or more, unless evidenced by a voucher or other document correctly describing the consideration for the payment and supported by a check or receipt endorsed or signed by or on behalf of the person receiving the money.
(2) If the disbursement is for services and reimbursement, the voucher or other document, or some other writing referred to therein, shall describe the services and itemize the expenditures.
(3) If the disbursement is in connection with any matter pending before any legislature or public body or before any public official, the voucher or other document shall also correctly describe the nature of the matter and of the trust fund’s interest therein.
History:
[(41-4939) 41-4942, added 1990, ch. 119, sec. 1, p. 288; am. & redesig. 2003, ch. 96, sec. 43, p. 307.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT › Section 41-4940 - BORROWED SURPLUS AND SUBORDINATED INDEBTEDNESS.

41-4940. BORROWED SURPLUS AND SUBORDINATED INDEBTEDNESS. (1) The trust fund may borrow money to defray the expenses of its organization, provide it with surplus funds, or for any purpose of its business, upon a written agreement that such money is required to be repaid only out of the trust fund’s surplus in excess of the amount stipulated in such agreement. The agreement may provide for interest, which interest shall or shall not constitute a liability of the insurer as to its funds other than such excess or surplus, as stipulated in the agreement. No commission or promotion expense shall be paid in connection with any such loan.
(2) Money so borrowed, together with the interest thereon, if so stipulated in the agreement, shall not form a part of the fund’s legal liabilities except as to its surplus in excess of the amount thereof stipulated in the agreement, or be the basis of any setoff, but until repaid, financial statements filed or published by the insurer shall show as a footnote thereto the amount thereof then unpaid together with any interest thereon accrued but unpaid.
(3) Any such loan shall be subject to the approval of the director. The trust fund shall, in advance of the loan, file with the director a statement of the purpose of the loan and a copy of the proposed loan agreement. The loan and agreement shall be deemed approved unless within fifteen (15) days after the date of such filing, the trust fund is notified of the director’s disapproval and the reasons therefor. The director shall disapprove any proposed loan or agreement if he finds the loan is unnecessary or excessive for the purpose intended, or that the terms of the loan agreement are not fair and equitable to the parties, and to other similar lenders, if any, to the trust fund, or that the information so filed by the trust fund is inadequate.
(4) Any such loan to the trust fund or substantial portion thereof shall be repaid by the trust fund when no longer reasonably necessary for the purpose originally intended. No repayment of such a loan shall be made by the fund unless approved in advance by the director.
(5) In the event of liquidation, repayment of the balance of the borrowed funds and any accrued interest then due and owing shall be paid only out of assets remaining after the payment of all obligations and claims of owners or operators of petroleum tanks insured by the trust fund and general creditors.
(6) The provisions of this section shall not apply to loans obtained by the trust fund in ordinary course of business from banks and other financial institutions, nor to loans secured by pledge or mortgage of assets.
History:
[(41-4940) 41-4943, added 1990, ch. 119, sec. 1, p. 288; am. 1991, ch. 59, sec. 28, p. 136; am. & redesig. 2003, ch. 96, sec. 44, p. 307.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT › Section 41-4941 - PENALTIES.

41-4941. PENALTIES. (1) Any person who willfully violates or causes or induces a violation of any provision of this chapter or any lawful rule of the director issued thereunder, shall be subject to penalty as provided in subsection (4) of this section.
(2) Any person who makes a false statement or representation of a material fact, knowing it to be false, or who knowingly fails to disclose a material fact in any application, examination, or statement required under this act or by lawful rule of the director thereunder, shall be subject to penalty as provided in subsection (4) of this section.
(3) Any person who makes a false entry in any book, record, statement, or report required in this chapter or lawful rule of the director thereunder to be kept by him, with intent to injure or defraud the trust fund or any member thereof, or to deceive anyone authorized or entitled to examine the affairs of the trust fund, shall be subject to penalty as provided in subsection (4) of this section.
(4) For each such violation, act or omission referred to in this section, unless greater penalty is provided therefor under any other applicable law, the offender shall upon conviction thereof be subject to a fine of not more than one thousand dollars ($1,000) and to imprisonment for not more than one (1) year, or to both such fine and imprisonment.
History:
[(41-4941) 41-4944, added 1990, ch. 119, sec. 1, p. 289; am. & redesig. 2003, ch. 96, sec. 45, p. 308.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT › Section 41-4942 - RULES — DIRECTOR — DEPARTMENT OF INSURANCE.

41-4942. RULES — DIRECTOR — DEPARTMENT OF INSURANCE. (1) The director may make reasonable rules necessary as an aid to the effectuation of any provision of this chapter. No such rule shall extend, modify or conflict with any provision of this chapter and the reasonable implications thereof.
(2) Such rules, or any amendment thereof, shall be made by the director only after a public hearing thereon of which the director has given written notice not less than thirty (30) days in advance to the board of the trust fund then registered with him. If reasonably possible the director shall include with the notice a copy of the proposed rules or amendment, or a condensed summary of material proposed provisions.
(3) All procedures and policies concerning the promulgation of such rules, or any amendment thereof, are subject to the provisions of chapter 52, title 67, Idaho Code, and the rules of practice and procedure of the department of insurance.
History:
[(41-4942) 41-4945, added 1990, ch. 119, sec. 1, p. 289; am. & redesig. 2003, ch. 96, sec. 46, p. 309.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT › Section 41-4943 - APPLICATION OF CHAPTER.

41-4943. APPLICATION OF CHAPTER. All of the provisions of this chapter shall apply to and confer all rights, privileges, exemptions and immunities upon the trust fund established for the purposes contemplated in this chapter, and the administrator, insured owners or operators of petroleum tanks, beneficiaries, and participants thereof. The provisions of this chapter shall not apply to any railroad, railroad corporation, or any employee thereof when such employee is acting in the course of his employment for any such railroad or railroad corporation.
History:
[(41-4943) 41-4946, added 1990, ch. 119, sec. 1, p. 289; am. 1991, ch. 59, sec. 29, p. 136; am. & redesig. 2003, ch. 96, sec. 47, p. 309.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT › Section 41-4944 - INSURANCE.

41-4944. INSURANCE. The coverage provided by the trust fund established pursuant to this chapter shall be deemed insurance for the purposes of any requirements of the Idaho department of environmental quality concerning the financial responsibility of owners or operators of petroleum storage tanks.
History:
[(41-4944) 41-4947, added 1990, ch. 119, sec. 1, p. 290; am. 1991, ch. 59, sec. 30, p. 137; am. 2001, ch. 103, sec. 78, p. 318; am. & redesig. 2003, ch. 96, sec. 48, p. 309.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT › Section 41-4945 - PERSONAL LIABILITY.

41-4945. PERSONAL LIABILITY. The board and the administrator shall not, nor shall any person employed by them, be personally liable in a private capacity for or on account of any act performed or contract entered into in good faith and without the intent to defraud, in connection with the administration of the fund or affairs relating thereto.
History:
[41-4945, added 2003, ch. 96, sec. 50, p. 309; am. 2004, ch. 175, sec. 3, p. 554.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 49 - PETROLEUM CLEAN WATER TRUST FUND ACT › Section 41-4946 - ACTIONS AGAINST THE FUND, THE BOARD, ITS EMPLOYEES, AND ADMINISTRATOR SUBJECT TO THE IDAHO TORT CLAIMS ACT.

41-4946. ACTIONS AGAINST THE FUND, THE BOARD, ITS EMPLOYEES, AND ADMINISTRATOR SUBJECT TO THE IDAHO TORT CLAIMS ACT. Any action against the fund, the board, its employees, and the administrator shall be subject in full to the Idaho tort claims act under chapter 9, title 6, Idaho Code.
History:
[41-4946, added 2003, ch. 96, sec. 51, p. 310; am. 2004, ch. 175, sec. 4, p. 554.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 51 - REINSURANCE INTERMEDIARY ACT › Section 41-5104 - REQUIRED CONTRACT PROVISIONS — REINSURANCE INTERMEDIARY — BROKERS.

41-5104. REQUIRED CONTRACT PROVISIONS — REINSURANCE INTERMEDIARY — BROKERS. Transactions between a RB and the insurer it represents in such capacity shall only be entered into pursuant to a written authorization, specifying the responsibilities of each party. The authorization shall, at a minimum, provide that:
(1) The insurer may terminate the RB’s authority at any time.
(2) The RB will render accounts to the insurer accurately detailing all material transactions, including information necessary to support all commissions, charges and other fees received by, or owing, to the RB, and remit all funds due to the insurer within thirty (30) days of receipt.
(3) All funds collected for the insurer’s account will be held by the RB in a fiduciary capacity in a bank which is a qualified United States financial institution as defined herein.
(4) The RB will comply with the provisions of section 41-5105, Idaho Code.
(5) The RB will comply with the written standards established by the insurer for the cession or retrocession of all risks.
(6) The RB will disclose to the insurer any relationship with any reinsurer to which business will be ceded or retroceded.
History:
[41-5104, added 1992, ch. 82, sec. 1, p. 251.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 51 - REINSURANCE INTERMEDIARY ACT › Section 41-5105 - BOOKS AND RECORDS — REINSURANCE INTERMEDIARY BROKERS.

41-5105. BOOKS AND RECORDS — REINSURANCE INTERMEDIARY BROKERS. (1) For at least ten (10) years after expiration of each contract of reinsurance transacted by the RB, the RB will keep a complete record for each transaction showing:
(a) The type of contract, limits, underwriting restrictions, classes or risks and territory;
(b) Period of coverage, including effective and expiration dates, cancellation provisions and notice required of cancellation;
(c) Reporting and settlement requirements of balances;
(d) Rate used to compute the reinsurance premium;
(e) Names and addresses of assuming reinsurers;
(f) Rates of all reinsurance commissions, including the commissions on any retrocessions handled by the RB;
(g) Related correspondence and memoranda;
(h) Proof of placement;
(i) Details regarding retrocessions handled by the RB including the identity of retrocessionaires and percentage of each contract assumed or ceded;
(j) Financial records including, but not limited to, premium and loss accounts; and
(k) When the RB procures a reinsurance contract on behalf of a licensed ceding insurer:
(i) Directly from any assuming reinsurer, written evidence that the assuming reinsurer has agreed to assume the risk; or
(ii) If placed through a representative of the assuming reinsurer, other than an employee, written evidence that such reinsurer has delegated binding authority to the representative.
(2) The insurer will have access and the right to copy and audit all accounts and records maintained by the RB related to its business in a form usable by the insurer.
History:
[41-5105, added 1992, ch. 82, sec. 1, p. 252.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 51 - REINSURANCE INTERMEDIARY ACT › Section 41-5106 - DUTIES OF INSURERS UTILIZING THE SERVICES OF A REINSURANCE INTERMEDIARY — BROKER.

41-5106. DUTIES OF INSURERS UTILIZING THE SERVICES OF A REINSURANCE INTERMEDIARY — BROKER. (1) An insurer shall not engage the services of any person, firm, association or corporation to act as a RB on its behalf unless such person is licensed as required in section 41-5103(1), Idaho Code.
(2) An insurer may not employ an individual who is employed by a RB with which it transacts business, unless such RB is under common control with the insurer and subject to the provisions of chapter 38, title 41, Idaho Code.
(3) The insurer shall annually obtain a copy of the statement of the financial condition of each RB with which it transacts business.
History:
[41-5106, added 1992, ch. 82, sec. 1, p. 252.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 51 - REINSURANCE INTERMEDIARY ACT › Section 41-5108 - PROHIBITED ACTS.

41-5108. PROHIBITED ACTS. The RM shall not:
(1) Cede retrocessions on behalf of the reinsurer, except that the RM may cede facultative retrocessions pursuant to obligatory facultative agreements if the contract with the reinsurer contains reinsurance underwriting guidelines for such retrocessions. Such guidelines shall include a list of reinsurers with which such automatic agreements are in effect, and for each such reinsurer, the coverages and amounts or percentages that may be reinsured, and commission schedules.
(2) Commit the reinsurer to participate in reinsurance syndicates.
(3) Appoint any producer without assuring that the producer is lawfully licensed to transact the type of reinsurance for which he is appointed.
(4) Without prior approval of the reinsurer, pay or commit the reinsurer to pay a claim, net of retrocessions, that exceeds the lesser of an amount specified by the reinsurer or one per cent (1%) of the reinsurer’s policyholder surplus as of December 31 of the last complete calendar year.
(5) Collect any payment from a retrocessionaire or commit the reinsurer to any claim settlement with a retrocessionaire, without prior approval of the reinsurer. If prior approval is given, a report must be promptly forwarded to the reinsurer.
(6) Jointly employ an individual who is employed by the reinsurer unless such RM is under common control with the reinsurer subject to chapter 38, title 41, Idaho Code.
(7) Appoint a sub-RM.
History:
[41-5108, added 1992, ch. 82, sec. 1, p. 254.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 51 - REINSURANCE INTERMEDIARY ACT › Section 41-5109 - DUTIES OF REINSURERS UTILIZING THE SERVICES OF A REINSURANCE INTERMEDIARY — MANAGER.

41-5109. DUTIES OF REINSURERS UTILIZING THE SERVICES OF A REINSURANCE INTERMEDIARY — MANAGER. (1) A reinsurer shall not engage the services of any person, firm, association or corporation to act as a RM on its behalf unless such person is licensed as required in section 41-5103(2), Idaho Code.
(2) The reinsurer shall annually obtain a copy of the statement(s) of the financial condition of each RM which such reinsurer has engaged, prepared by an independent certified accountant in a form acceptable to the director.
(3) If a RM establishes loss reserves, the reinsurer shall annually obtain the opinion of an actuary attesting to the adequacy of loss reserves established for losses incurred and outstanding on business produced by the RM. This opinion shall be in addition to any other required loss reserve certification.
(4) Binding authority for all retrocessional contracts or participation in reinsurance syndicates shall rest with an officer of the reinsurer who shall not be affiliated with the RM.
(5) Within thirty (30) days of termination of a contract with a RM, the reinsurer shall provide written notification of such termination to the director.
(6) A reinsurer shall not appoint to its board of directors, any officer, director, employee, controlling shareholder or subproducer of its RM. The provisions of this subsection shall not apply to relationships governed by chapter 38, title 41, Idaho Code, or if applicable, chapter 17, title 41, Idaho Code.
History:
[41-5109, added 1992, ch. 82, sec. 1, p. 255; am. 1993, ch. 194, sec. 35, p. 530.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 51 - REINSURANCE INTERMEDIARY ACT › Section 41-5110 - EXAMINATION AUTHORITY.

41-5110. EXAMINATION AUTHORITY. (1) A reinsurance intermediary shall be subject to examination by the director. The director shall have access to all books, bank accounts and records of the reinsurance intermediary in a form usable to the director.
(2) A RM may be examined as if it were the reinsurer.
History:
[41-5110, added 1992, ch. 82, sec. 1, p. 255.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 51 - REINSURANCE INTERMEDIARY ACT › Section 41-5111 - PENALTIES AND LIABILITIES.

41-5111. PENALTIES AND LIABILITIES. (1) A reinsurance intermediary, insurer or reinsurer found by the director, after a hearing conducted in accordance with chapter 52, title 67, Idaho Code, to be in violation of any provision(s) of this chapter shall:
(a) For each separate violation, pay a penalty in an amount not exceeding five thousand dollars ($5,000);
(b) Be subject to revocation or suspension of its license; and
(c) If a violation was committed by the reinsurance intermediary, such reinsurance intermediary shall make restitution to the insurer, reinsurer, rehabilitator or liquidator of the insurer or reinsurer for the net losses incurred by the insurer or reinsurer attributable to such violation.
(2) The decision, determination or order of the director pursuant to subsection (1) of this section shall be subject to judicial review pursuant to chapter 52, title 67, Idaho Code.
(3) Nothing contained in this section shall affect the right of the director to impose any other penalties provided in the insurance law.
(4) Nothing contained in this chapter is intended to or shall in any manner limit or restrict the rights of policyholders, claimants, creditors or other third parties or confer any rights to such persons.
History:
[41-5111, added 1992, ch. 82, sec. 1, p. 256.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 52 - INDIVIDUAL HEALTH INSURANCE AVAILABILITY ACT › Section 41-5201 - SHORT TITLE.

41-5201. SHORT TITLE. This chapter shall be known and may be cited as the "Individual Health Insurance Availability Act."
History:
[41-5201, added 1994, ch. 427, sec. 1, p. 1338.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 52 - INDIVIDUAL HEALTH INSURANCE AVAILABILITY ACT › Section 41-5202 - PURPOSE.

41-5202. PURPOSE. The purpose and intent of this chapter is to promote the availability of health insurance coverage to persons not covered by employment based insurance regardless of their health status or claims experience, to prevent abusive rating practices, to require disclosure of rating practices to purchasers, to establish rules regarding renewability of coverage, to establish limitations on the use of preexisting condition exclusions, and to improve the overall fairness and efficiency of the individual health insurance market.
This chapter is not intended to provide a comprehensive solution to the problem of affordability of health care or health insurance.
History:
[41-5202, added 1994, ch. 427, sec. 1, p. 1338; am. 1997, ch. 321, sec. 19, p. 980; am. 2000, ch. 472, sec. 10, p. 1623.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 52 - INDIVIDUAL HEALTH INSURANCE AVAILABILITY ACT › Section 41-5204 - APPLICABILITY AND SCOPE.

41-5204. APPLICABILITY AND SCOPE. To the extent permitted by federal law, the provisions of this chapter shall apply to any health benefit plan delivered or issued for delivery in the state of Idaho that provides coverage to eligible individuals or their dependents if not otherwise subject to the provisions of chapter 22, 40, 47 or 55, title 41, Idaho Code.
(1) Except as provided in subsection (2) of this section, for the purposes of this chapter, carriers that are affiliated companies or that are eligible to file a consolidated tax return shall be treated as one (1) carrier and any restrictions or limitations imposed in this chapter shall apply as if all health benefit plans delivered or issued for delivery to individuals in this state by such affiliated carriers were insured by one (1) carrier.
(2) An affiliated carrier that is a managed care organization having a certificate of authority pursuant to the provisions of chapter 39, title 41, Idaho Code, may be considered to be a separate carrier for the purposes of this chapter.
(3) Unless otherwise authorized by the director, an individual carrier shall not enter into one (1) or more ceding arrangements with respect to health benefit plans delivered or issued for delivery to individuals in this state if such arrangements would result in less than fifty percent (50%) of the insurance obligation or risk for such health benefit plans being retained by the ceding carrier. The provisions of sections 41-510, 41-511 and 41-515, Idaho Code, shall apply if an individual carrier cedes or assumes all of the insurance obligation or risk with respect to one (1) or more health benefit plans delivered or issued for delivery to individuals in this state.
History:
[41-5204, added 1994, ch. 427, sec. 1, p. 1340; am. 2000, ch. 472, sec. 12, p. 1626; am. 2017, ch. 76, sec. 3, p. 208.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 52 - INDIVIDUAL HEALTH INSURANCE AVAILABILITY ACT › Section 41-5209 - NOTICE OF INTENT TO OPERATE AS A RISK-ASSUMING CARRIER OR A REINSURING CARRIER.

41-5209. NOTICE OF INTENT TO OPERATE AS A RISK-ASSUMING CARRIER OR A REINSURING CARRIER. (1) (a) Each individual carrier shall notify the director within thirty (30) days of the effective date of this chapter of the carrier’s intention to operate as a risk-assuming carrier or a reinsuring carrier. An individual carrier seeking to operate as a risk-assuming carrier shall make an application pursuant to the provisions of section 41-5210, Idaho Code.
(b) The decision shall be binding for a five (5) year period except that the initial decision shall be binding for two (2) years. The director may permit a carrier to modify its decision at any time for good cause shown.
(c) The director shall establish an application process for individual carriers seeking to change their status under the provisions of this subsection.
(2) A reinsuring carrier that applies and is approved to operate as a risk-assuming carrier shall not be permitted to continue to reinsure any health benefit plan with the program. Such a carrier shall pay a prorated assessment based upon business issued as a reinsuring carrier for any portion of the year that the business was reinsured.
History:
[41-5209, added 1994, ch. 427, sec. 1, p. 1346.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 52 - INDIVIDUAL HEALTH INSURANCE AVAILABILITY ACT › Section 41-5210 - APPLICATION TO BECOME A RISK-ASSUMING CARRIER.

41-5210. APPLICATION TO BECOME A RISK-ASSUMING CARRIER. (1) An individual carrier may apply to become a risk-assuming carrier by filing an application with the director in a form and manner prescribed by the director.
(2) The director shall consider the following factors in evaluating an application filed under the provisions of subsection (1) of this section:
(a) The carrier’s financial condition;
(b) The carrier’s history of rating and underwriting individuals;
(c) The carrier’s commitment to market fairly to all individuals in the state or its established geographic service area, as applicable;
(d) The carrier’s experience with managing the risk of individuals; and
(e) The extent to which a carrier has and will be able to maintain reinsurance pursuant to the provisions of subsection (3) of section 41-5204, Idaho Code.
(3) The director shall provide public notice of an application by an individual carrier to be a risk-assuming carrier and shall provide at least a sixty (60) day period for public comment prior to making a decision on the application. If the application is not acted upon within ninety (90) days of the receipt of the application by the director, the carrier may request a hearing.
(4) The director may rescind the approval granted to a risk-assuming carrier under the provisions of this section if the director finds that:
(a) The carrier’s financial condition will no longer support the assumption of risk from issuing coverage to individuals in compliance with the provisions of section 41-5208, Idaho Code, without the protection afforded by the program;
(b) The carrier has failed to market fairly to all individuals in the state or its established geographic service area, as applicable; or
(c) The carrier has failed to provide coverage to eligible individuals as required in section 41-5208, Idaho Code.
(5) An individual carrier electing to be a risk-assuming carrier shall not be subject to the provisions of section 41-4711, Idaho Code, except to the extent such individual carrier is subject to assessment for additional funding pursuant to the provisions of subsection (12)(c) of section 41-4711, Idaho Code.
History:
[41-5210, added 1994, ch. 427, sec. 1, p. 1347.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 52 - INDIVIDUAL HEALTH INSURANCE AVAILABILITY ACT › Section 41-5211 - ADMINISTRATIVE PROCEDURES.

41-5211. ADMINISTRATIVE PROCEDURES. The director shall promulgate rules in accordance with the provisions of chapter 52, title 67, Idaho Code, for the implementation and administration of the individual health coverage reform act.
History:
[41-5211, added 1994, ch. 427, sec. 1, p. 1347.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 52 - INDIVIDUAL HEALTH INSURANCE AVAILABILITY ACT › Section 41-5214 - ENHANCED SHORT-TERM PLANS.

41-5214. ENHANCED SHORT-TERM PLANS. The director shall adopt reasonable rules to establish specific standards for enhanced short-term plans. The standards shall be in addition to and in accordance with applicable laws of this state, including this chapter. The standards:
(1) Shall include requirements for renewability that are consistent with federal law regarding short-term, limited duration insurance; and
(2) May include, but need not be limited to:
(a) A scope of covered benefits, which may be as broad as the scope of covered benefits required to be included in individual health benefit plans that are not deemed short-term, limited duration insurance under federal law;
(b) Restrictions on premium rate increases when an enhanced short-term plan ceases to be renewable and the individual policyholder reapplies for coverage from the same carrier; and
(c) Conversion of enhanced short-term plans into fully renewable coverage upon a finding by the director that the conversion complies with law and is in the best interests of the public.
History:
[41-5214, added 2019, ch. 301, sec. 3, p. 897.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 54 - RISK-BASED CAPITAL (RBC) FOR INSURERS ACT › Section 41-5402 - RBC REPORTS.

41-5402. RBC REPORTS. (1) Every domestic insurer shall, on or prior to each March 1 (the "filing date"), prepare and submit to the director a report of its RBC levels as of the end of the calendar year just ended, in a form and containing such information as is required by the RBC instructions. In addition, every domestic insurer shall file its RBC report:
(a) With the NAIC in accordance with the RBC instructions; and
(b) With the insurance director in any state in which the insurer is authorized to do business, if the insurance director has notified the insurer of its request in writing, in which case the insurer shall file its RBC report not later than the later of:
(i) Fifteen (15) days from the receipt of notice to file its RBC report with that state; or
(ii) The filing date.
(2) A life and health insurer’s or fraternal benefit society’s RBC shall be determined in accordance with the formula set forth in the RBC instructions. The formula shall take into account, and may adjust for the covariance between, the following factors determined in each case by applying the factors in the manner set forth in the RBC instructions:
(a) The risk with respect to the insurer’s assets;
(b) The risk of adverse insurance experience with respect to the insurer’s liabilities and obligations;
(c) The interest rate risk with respect to the insurer’s business; and
(d) All other business risks and such other relevant risks as are set forth in the RBC instructions.
(3) A property and casualty insurer’s or health organization’s RBC shall be determined in accordance with the formula set forth in the RBC instructions. The formula shall take the following into account, and may adjust for the covariance between, determined in each case by applying the factors in the manner set forth in the RBC instructions:
(a) Asset risk;
(b) Credit risk;
(c) Underwriting risk; and
(d) All other business risks and such other relevant risks as are set forth in the RBC instructions.
(4) An excess of capital over the amount produced by the risk-based capital requirements contained in this chapter and the formulas, schedules and instructions referenced in this chapter is desirable in the business of insurance. Accordingly, insurers should seek to maintain capital above the RBC levels required by this chapter. Additional capital is used and useful in the insurance business and helps to secure an insurer against various risks inherent in, or affecting, the business of insurance and not accounted for or only partially measured by the risk-based capital requirements contained in this chapter.
(5) If a domestic insurer files an RBC report which in the judgment of the director is inaccurate, then the director shall adjust the RBC report to correct the inaccuracy and shall notify the insurer of the adjustment. The notice shall contain a statement of the reason for the adjustment. An RBC report as so adjusted is referred to as an "adjusted RBC report."
History:
[41-5402, added 1996, ch. 96, sec. 1, p. 284; am. 2014, ch. 319, sec. 2, p. 786.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 54 - RISK-BASED CAPITAL (RBC) FOR INSURERS ACT › Section 41-5405 - AUTHORIZED CONTROL LEVEL EVENT.

41-5405. AUTHORIZED CONTROL LEVEL EVENT. (1) "Authorized control level event" means any of the following events:
(a) The filing of an RBC report by the insurer which indicates that the insurer’s total adjusted capital is greater than or equal to its mandatory control level RBC but less than its authorized control level RBC;
(b) The notification by the director to the insurer of an adjusted RBC report that indicates the event in paragraph (a) of this subsection, provided the insurer does not challenge the adjusted RBC report under section 41-5407, Idaho Code;
(c) If, pursuant to section 41-5407, Idaho Code, the insurer challenges an adjusted RBC report that indicates the event in paragraph (a) of this subsection, notification by the director to the insurer that the director has, after a hearing, rejected the insurer’s challenge;
(d) The failure of the insurer to respond, in a manner satisfactory to the director, to a corrective order, provided the insurer has not challenged the corrective order under section 41-5407, Idaho Code; or
(e) If the insurer has challenged a corrective order under section 41-5407, Idaho Code, and the director has, after a hearing, rejected the challenge or modified the corrective order, the failure of the insurer to respond, in a manner satisfactory to the director, to the corrective order subsequent to rejection or modification by the director.
(2) In the event of an authorized control level event with respect to an insurer, the director shall:
(a) Take such actions as are required under section 41-5404, Idaho Code, regarding an insurer with respect to which a regulatory action level event has occurred; or
(b) If the director deems it to be in the best interests of the policyholders and creditors of the insurer and of the public, take such actions as are necessary to cause the insurer to be placed under regulatory control pursuant to chapter 33, title 41, Idaho Code. In the event the director takes such actions, the authorized control level event shall be deemed sufficient grounds for the director to take action pursuant to chapter 33, title 41, Idaho Code, and the director shall have the rights, powers and duties with respect to the insurer as are set forth in chapter 33, title 41, Idaho Code. In the event the director takes actions under this paragraph pursuant to an adjusted RBC report, the insurer shall be entitled to such protections as are afforded to insurers under the provisions of section 41-3309, Idaho Code, pertaining to summary proceedings.
History:
[41-5405, added 1996, ch. 96, sec. 1, p. 288.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 54 - RISK-BASED CAPITAL (RBC) FOR INSURERS ACT › Section 41-5407 - HEARINGS.

41-5407. HEARINGS. Upon any of the following the insurer shall have the right to a confidential departmental hearing, on a record, at which the insurer may challenge any determination or action by the director. The insurer shall notify the director of its request for a hearing within five (5) days after the notification by the director under subsection (1), (2), (3) or (4) of this section. Upon receipt of the insurer’s request for a hearing, the director shall set a date for the hearing, which date shall be no less than ten (10) nor more than thirty (30) days after the date of the insurer’s request.
(1) Notification to an insurer by the director of an adjusted RBC report; or
(2) Notification to an insurer by the director that:
(a) The insurer’s RBC plan or revised RBC plan is unsatisfactory; and
(b) Such notification constitutes a regulatory action level event with respect to such insurer; or
(3) Notification to any insurer by the director that the insurer has failed to adhere to its RBC plan or revised RBC plan and that such failure has a substantial adverse effect on the ability of the insurer to eliminate the company action level event with respect to the insurer in accordance with its RBC plan or revised RBC plan; or
(4) Notification to an insurer by the director of a corrective order with respect to the insurer.
History:
[41-5407, added 1996, ch. 96, sec. 1, p. 290.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 54 - RISK-BASED CAPITAL (RBC) FOR INSURERS ACT › Section 41-5409 - SUPPLEMENTAL PROVISIONS — RULES — EXEMPTION.

41-5409. SUPPLEMENTAL PROVISIONS — RULES — EXEMPTION. (1) The provisions of this chapter are supplemental to any other provisions of the laws of this state, and shall not preclude or limit any other powers or duties of the director under such laws, including, but not limited to, chapter 33, title 41, Idaho Code, and rules adopted by the department of insurance relating to the director’s authority for companies deemed to be in hazardous financial condition.
(2) The director may adopt reasonable rules necessary for the implementation of this chapter in accordance with the provisions of chapter 52, title 67, Idaho Code.
(3) Upon written application, the director may exempt from compliance with this chapter, for a specified period or periods, any domestic property and casualty insurer, domestic managed care organization or domestic health organization which:
(a) Writes direct business only in this state; and
(b) Writes direct annual premiums of two million dollars ($2,000,000) or less; and
(c) Assumes no reinsurance in excess of five percent (5%) of direct premium written; or
(d) Is a managed care organization offering only a limited managed care plan, a hospital service corporation or a professional service corporation that covers less than two thousand (2,000) lives.
History:
[41-5409, added 1996, ch. 96, sec. 1, p. 292; am. 2014, ch. 319, sec. 6, p. 791.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 54 - RISK-BASED CAPITAL (RBC) FOR INSURERS ACT › Section 41-5410 - FOREIGN INSURERS.

41-5410. FOREIGN INSURERS. (1) Any foreign insurer shall, upon the written request of the director, submit to the director an RBC report as of the end of the calendar year just ended the later of:
(a) The date an RBC report would be required to be filed by a domestic insurer under this chapter; or
(b) Fifteen (15) days after the request is received by the foreign insurer.
Any foreign insurer shall, at the written request of the director, promptly submit to the director a copy of any RBC plan that is filed with the insurance director of any other state.
(2) In the event of a company action level event, regulatory action level event or authorized control level event with respect to any foreign insurer as determined under the RBC statute applicable in the state of domicile of the insurer (or, if no RBC statute is in force in that state, under the provisions of this chapter), if the insurance director of the state of domicile of the foreign insurer fails to require the foreign insurer to file an RBC plan in the manner specified under that state’s RBC statute (or, if no RBC statute is in force in that state, under section 41-5403, Idaho Code), the director may require the foreign insurer to file an RBC plan with the director. In such event, the failure of the foreign insurer to file an RBC plan with the director shall be grounds to order the insurer to cease and desist from writing new insurance business in this state.
(3) In the event of a mandatory control level event with respect to any foreign insurer, if no domiciliary receiver has been appointed with respect to the foreign insurer under the rehabilitation and liquidation statute applicable in the state of domicile of the foreign insurer, the director may make application to the district court for Ada county, state of Idaho, as permitted under chapter 33, title 41, Idaho Code, with respect to the liquidation of property of foreign insurers found in this state, and the occurrence of the mandatory control level event shall be considered adequate grounds for the application.
History:
[41-5410, added 1996, ch. 96, sec. 1, p. 292.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 54 - RISK-BASED CAPITAL (RBC) FOR INSURERS ACT › Section 41-5411 - IMMUNITY.

41-5411. IMMUNITY. There shall be no liability on the part of, and no cause of action shall arise against, the director or the insurance department or its employees or agents for any action taken by them in the performance of their powers and duties under this chapter.
History:
[41-5411, added 1996, ch. 96, sec. 1, p. 293.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 54 - RISK-BASED CAPITAL (RBC) FOR INSURERS ACT › Section 41-5412 - NOTICES.

41-5412. NOTICES. All notices by the director to an insurer which may result in regulatory action hereunder shall be effective upon dispatch if transmitted by registered or certified mail, or in the case of any other transmission shall be effective upon the insurer’s receipt of such notice.
History:
[41-5412, added 1996, ch. 96, sec. 1, p. 293.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 54 - RISK-BASED CAPITAL (RBC) FOR INSURERS ACT › Section 41-5413 - SEVERABILITY.

41-5413. SEVERABILITY. The provisions of this act are hereby declared to be severable and if any provision of this act or the application of such provision to any person or circumstance is declared invalid for any reason, such declaration shall not affect the validity of the remaining portions of this act.
History:
[41-5413, added 1996, ch. 96, sec. 1, p. 293.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 55 - IDAHO INDIVIDUAL HIGH RISK REINSURANCE POOL › Section 41-5502 - CREATION OF THE INDIVIDUAL HIGH RISK REINSURANCE POOL — BOARD.

41-5502. CREATION OF THE INDIVIDUAL HIGH RISK REINSURANCE POOL — BOARD. (1) There is hereby created an independent public body corporate and politic to be known as the Idaho individual high risk reinsurance pool. The pool will perform an essential governmental function in the exercise of powers conferred upon it in this chapter. The pool and any assessments imposed or collected pursuant to the operation of the pool shall at all times be free from taxation of every kind.
(2) The pool created by this chapter and the small employer reinsurance program established in section 41-4711, Idaho Code, shall operate subject to the supervision and control of the board. The board shall consist of ten (10) members. Eight (8) members shall be appointed by the director and serve at the pleasure of the director. The director or his designated representative shall serve as an ex officio member of the board. In selecting the members of the board the director shall appoint four (4) members representing carriers, two (2) disability agents and two (2) members representing consumer interests. One (1) member shall be a member of the senate appointed by the president pro tempore of the senate and one (1) member shall be a member of the house of representatives appointed by the speaker of the house.
(3) The initial nonlegislative board members shall be appointed as follows: two (2) of the members to serve a term of two (2) years; three (3) of the members to serve a term of four (4) years; and three (3) of the members to serve a term of six (6) years. Subsequent nonlegislative board members shall serve for a term of three (3) years. Legislative members of the board shall serve for a term of two (2) years. A vacancy in a legislative member’s position on the board shall be filled in the same manner as the original appointment. All other vacancies on the board shall be filled by the director. A nonlegislative board member may be removed by the director for cause.
History:
[41-5502, added 2000, ch. 472, sec. 17, p. 1635.]