Title 41, INSURANCE

41-605. Liabilities, in general. In any determination of the financial condition of an insurer, capital stock and liabilities to be charged against its assets shall include: (1) The amount of its capital stock outstanding, if any. (2) The amount, estimated consistent with the pro…

41-606. Unearned premium reserve. (1) As to insurance against loss or damage to property (except as provided in section 41-607), and as to all general casualty insurance and surety insurance, every insurer shall maintain an unearned premium reserve on all policies in force. (2) T…

41-607. Unearned premium reserve for marine and transportation insurance. As to marine and transportation insurance, the entire amount of premiums on trip risks not terminated shall be deemed unearned; and the director may require the insurer to carry a reserve equal to one hundr…

41-608. Reserve for disability insurance. For all disability insurance policies the insurer shall maintain an active life reserve which shall place a sound value on its liabilities under such policies and be not less than the reserve according to appropriate standards set forth i…

41-609. Loss reserves, liability insurance and worker’s compensation. Where called for by the form of annual statement required of the insurer, the reserve for outstanding losses under insurance against loss or damage from accident to or injuries suffered by an employee or other …

41-610. Increase of inadequate loss reserves. If loss experience shows that an insurer’s loss reserves, however computed or estimated, are inadequate, the director shall require the insurer to maintain loss reserves in such additional amount as is needed to make them adequate. Th…

41-611. Reserve for losses and unearned premiums — Title insurers. (1) Each title insurer shall maintain a special reserve in adequate amount to cover its liability as to losses incurred under policies issued by it. (2) Each domestic title insurer shall establish and maintain a r…

41-611A. Mortgage guaranty insurance — Contingency reserve. In addition to reserves for unearned premiums and losses, as to mortgage guaranty insurance transacted by it an insurer shall establish and maintain a contingency reserve out of net premiums (gross premiums less premiums…

41-612. Standard valuation law — Life insurance. (1) (a) This section shall be known as the standard valuation law. (b) For the purposes of this section the following definitions shall apply on or after the operative date of the valuation manual: (i) "Accident and health insuranc…

41-613. Valuation of bonds. (1) All bonds or other evidences of debt having a fixed term and rate of interest held by an insurer may, if amply secured and not in default as to principal or interest, be valued as follows: (a) If purchased at par, at the par value. (b) If purchased…

41-614. Valuation of other securities. (1) Securities, other than those referred to in section 41-613, Idaho Code, held by an insurer may be valued, in the discretion of the director: (a) At their market value if market value can be reasonably ascertained, or (b) If the issuer is…

41-615. Valuation of property. (1) Real property acquired pursuant to a mortgage loan or contract for sale, in the absence of a recent appraisal deemed by the director to be reliable, shall not be valued at an amount greater than the unpaid principal of the defaulted loan or cont…

41-616. Valuation of purchase money mortgages. Purchase money mortgages on real property referred to in subsection (1) of section 41-615 of this chapter shall be valued in an amount not exceeding the acquisition cost of the real property covered thereby or ninety per cent (90%) o…