Idaho Passes Insurance Laws
Idaho has passed several laws this legislative session that have been signed into law and will take effect July 1. The laws include:
*HB 088: Amends Idaho Code § 41-5403 to add a risk based capital trend test for property & casualty insurers.
*HB 089: Amends Idaho Code § 41-1036 to delete an exemption from record keeping requirements for life & disability producers, and to allow producer records of transactions to be maintained off-site and in electronic form as long as they can be made available upon reasonable notice.
*HB 090: Amends Idaho Code § 41-1427 to increase the minimum period for examinations of rating organizations from 3 years to 5 years.
*HB 091: Amends Idaho Code § 41-509 to remove an obsolete reference to “limits of risk.”
*HB 092: Amends Idaho Code § 41-249 to permit the DOI to share information with international regulatory and law enforcement agencies.
*HB 96: Amends Idaho Code § 41-2801 to make Chapter 28 “any willing provider” and “most favored nation” contracting restrictions applicable to both foreign and domestic insurers.
*HB 097: Amends Idaho Code § 41-230 to make the grant of immunity from criminal prosecution for compelled testimony regarding insurance matters consistent with the grant of immunity provided by other immunity statutes contained in Idaho’s criminal code.
*HB 098: Amends Idaho Code §§ 41-292 and 41-293 to clarify and add to definitions of activities that constitute insurance fraud.
*HB 099: Amends Idaho Code §§ 41-4909 and 41-4914 to increase the
unencumbered balance in the Petroleum Clean Water Trust Fund required to trigger imposition and suspension of transfer fees, and to provide for the Fund’s board of trustees to direct the State Treasurer regarding investments of Fund assets.
*HB 111: Amends Idaho Code § 41-1302 to expressly prohibit the use of dishonest or predatory insurance sales practices targeting members of the military. This provision is intended to allow Idaho to meet federal requirements for rules relating to insurance sales to military personnel.
*HB 190: Amends Idaho Code § 41-402 to exempt dental insurance from the state premium tax and to impose a new tax on dental insurance at the rate of four cents per contract per month. (Note: Because the effective date of this law is July 1, for 2007
dental insurance will be subject to the normal premium tax for the period January 1 to July 1, and will be taxed at the rate of 4 cents per contract, per month after July 1, 2007.)
*SB 1030: Amends Idaho Code § 9-340D of the Public Records Act to exempt from disclosure as public records certain types of records required to be filed with a surplus lines association.
*SB 1105: Amends Idaho Code §§ 41-2103, 41-4703, 41-5501 and 63-3022K to increase the minimum age for unmarried dependents from 19 to 21, and from age 23 to 25 for a full time student financially dependent upon the parent. These changes affect individual and small group policies, but not large group policies.
*SB 1126: Amends Idaho Code §§ 49-1212 and 49-2417 to prohibit auto policies from providing for reduced levels of coverage for members of an insured’s family or household, or other authorized user except as provided in section 41-2510, and to make the limit of liability for a vehicle owner due to imputed negligence the greater of the amount required by the proof of financial responsibility law or the limits of the vehicle owner’s policy.
*SB 1161: Amends Idaho Code §§ 19-2927, 19-2928 and 19-2929 to increase time periods relating to exoneration and forfeiture of bail from 90 days to 180 days.
*SB 1170: Amends Idaho Code §§ 56-1302, 56-1303 and 56-1306 of the Idaho Long Term Care Partnership Program to remove language that required exhaustion of policy benefits in order to qualify for the Program and to require that insurers marketing qualifying long term care policies provide a notice explaining the benefits associated with
a partnership policy.
To view the bills in their entirety at the Idaho Legislature Web site:
www.legislature.idaho.gov.
Source: Idaho DOI