Title 41 — INSURANCE

41-4917. Actions for collection in case of default — Penalty — Cancellation of insurance contract. (1) If an insured owner or operator of a storage tank shall default in any reimbursement required to be made by the insured to the trust fund under section 41-4907, Idaho Code, the …

41-4918. Cancellation of insurance. Any insured owner or operator of a storage tank may cancel his insurance by returning his insurance contract to the administrator for cancellation. There shall be no refund of any application fees paid to the trust fund as all such fees shall b…

41-4919. Reinsurance. (1) The administrator of the trust fund may reinsure any risk, or any part thereof, and may enter into agreements of reinsurance in the same way and to the same extent as other insurance carriers, the cost of which shall be paid out of the trust fund balance…

41-4920. Payments from the trust fund by state treasurer. The administrator of the trust fund shall submit each month to the state board of examiners an estimate of the amount necessary to meet the current disbursements for liability insurance losses to be paid in behalf of insur…

41-4921. Reserve funds. The Idaho petroleum clean water trust fund shall establish and maintain the following reserves or financial resources, which shall constitute liabilities in any determination of the financial condition of the trust fund: (1) An amount sufficient for the pa…

41-4922. Plan of operation. The administrator shall establish a plan of operation to be approved by the director of the department of insurance for the state of Idaho.

41-4923. Registration of the trust fund. The trust fund established pursuant to the provisions of this chapter shall be registered with the director as set out in this chapter.

41-4924. Qualifications for registration. The director shall not register the trust fund if it is not qualified therefor. To be qualified, the trust fund: (1) Shall require all application fees to be paid in advance and to be deposited in and disbursed from the trust fund duly cr…

41-4925. Application for registration — Fee. (1) Application for registration of the trust fund shall be made to the director, on forms furnished and designed by him for the purpose of eliciting information as to whether the trust fund is qualified for registration. The applicati…

41-4925A. Amendments to plan of operation. (1) Any amendment to the plan of operation prepared by the administrator for the purpose of deferring the issuance of contracts of insurance to any category of petroleum storage tank owners or operators or for issuing contracts of insura…

41-4926. Grant or denial of registration. (1) The director shall act upon an application for registration of the trust fund with all reasonable promptness. He may make such investigation of the proposal as he deems advisable. If the director finds that the application is complete…

41-4927. Bylaws of the fund. The board shall adopt bylaws subject to the approval of the director, who shall grant his approval only after his determination that the provisions in the bylaws are not inconsistent nor contrary to the applicable provisions of title 41, Idaho Code, a…

41-4928. Records and accounts — Annual statement. (1) The administrator shall cause full and accurate records and accounts to be entered and maintained covering all financial transactions and affairs of the trust fund. (2) Within sixty (60) days after the close of each calendar y…

41-4929. Management contract with the administrator — Mandatory provisions. (1) The management contract entered into between the administrator and the board as required in this chapter, shall not become effective unless the contract is filed with and approved by the director. The…

41-4930. Existing insurance laws to apply to the trust fund with certain exceptions. The trust fund shall comply with all of the applicable provisions of title 41, Idaho Code, with certain exceptions as follows: (1) The creation of the trust fund by act of the legislature shall n…

41-4931. Taxes. (1) The trust fund shall not be subject to chapter 4, title 41, Idaho Code, as it pertains to premium tax. (2) The state of Idaho hereby preempts the field of imposing excise, privilege, franchise, income, license and similar taxes, licenses and fees upon the trus…

41-4932. Examination of books, records and accounts. (1) The books, records, accounts and affairs of the trust fund shall be subject to examination by the director by competent examiners duly authorized by him in writing, at such times or intervals as the director deems advisable…

41-4933. Administrator — Fidelity bonds. The administrator shall cause all individuals handling receipts and disbursements for the trust fund to be bonded at all times under a fidelity bond issued by a surety insurer authorized to transact such insurance in this state. The bond s…

41-4934. Prohibited pecuniary interests in plan management. (1) Neither the administrator nor any other person having responsibility for the management of the trust fund or the investment or other handling of the trust fund moneys or assets shall: (a) Receive directly or indirect…

41-4935. Political contributions prohibited. The administrator shall not make or knowingly permit the making, directly or indirectly, of any political contribution by or from the trust fund.

41-4936. Recovery of depleted funds. If after notice and hearing, the director finds that the trust fund has been depleted by reason of any wrongful or negligent act or omission of the board or any other person, he shall transmit a copy of his findings to the attorney general of …

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 o…

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 co…

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 …

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 o…

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 …

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 implicatio…

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 …

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 petro…

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…

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 …

41-5101. Short title. This chapter may be cited as the "Reinsurance Intermediary Act."

41-5102. Definitions. As used in this chapter: (1) "Actuary" means a person who is a member in good standing of the American academy of actuaries. (2) "Controlling person" means any person, firm, association or corporation who directly or indirectly has the power to direct or cau…

41-5103. Licensure. (1) No person, firm, association or corporation shall act as a RB in this state if the RB maintains an office either directly or as a member or employee of a firm or association, or an officer, director or employee of a corporation: (a) In this state, unless s…

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 sh…

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 re…

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), I…

41-5107. Required contract provisions — Reinsurance intermediary — Managers. Transactions between a RM and the reinsurer it represents in such capacity shall only be entered into pursuant to a written contract, specifying the responsibilities of each party, which shall be approve…

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 s…

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…

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 …

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 viola…

41-5201. Short title. This chapter shall be known and may be cited as the "Individual Health Insurance Availability Act."

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 disclo…

41-5203. Definitions. As used in this chapter: (1) "Actuarial certification" means a written statement by a member of the American academy of actuaries or other individual acceptable to the director that an individual carrier is in compliance with the provisions of section 41-520…

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 otherwi…

41-5206. Restrictions relating to premium rates. (1) Premium rates for health benefit plans subject to the provisions of this chapter shall be subject to the following provisions: (a) The premium rates charged during a rating period to individuals with similar case characteristic…

41-5207. Renewability of coverage. (1) A health benefit plan subject to the provisions of this chapter shall be renewable with respect to the individual or dependents, at the option of the individual, except in any of the following cases: (a) Nonpayment of the required premiums; …

41-5208. Availability of coverage — Preexisting conditions — Portability. (1) (a) Every individual carrier shall, as a condition of offering health benefit plans in this state to individuals, actively offer health benefit plans to individuals, including the individual basic healt…

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 r…