§ 41-5409 — SUPPLEMENTAL PROVISIONS — RULES — EXEMPTION

Idaho § 41-5409

• Jurisdiction: Idaho
• Title 41: INSURANCE
• Ch. 54: RISK-BASED CAPITAL (RBC) FOR INSURERS ACT

Text

(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.

Legislative History

[41-5409, added 1996, ch. 96, sec. 1, p. 292; am. 2014, ch. 319, sec. 6, p. 791.]