Section 41-6305 – ORSA SUMMARY REPORT.
41-6305. ORSA SUMMARY REPORT. (1) Upon the director’s request, and no more than once each year, an insurer shall submit to the director an ORSA summary report or any combination of reports that together contain the information described in the ORSA guidance manual, applicable to the insurer and/or the insurance group of which the insurer […]
Section 41-6306 – EXEMPTION.
41-6306. EXEMPTION. (1) An insurer shall be exempt from the requirements of this chapter if: (a) The insurer has an annual direct written and unaffiliated assumed premium, including international direct and assumed premium, but excluding premiums reinsured with the federal crop insurance corporation and federal flood program, less than five hundred million dollars ($500,000,000); and […]
Section 41-6307 – CONTENTS OF ORSA SUMMARY REPORT.
41-6307. CONTENTS OF ORSA SUMMARY REPORT. (1) The ORSA summary report shall be prepared consistent with the ORSA guidance manual, subject to the requirements of subsection (2) of this section. Documentation and supporting information shall be maintained and made available upon examination or upon request of the director. (2) The review of the ORSA summary […]
Section 41-6308 – CONFIDENTIALITY.
41-6308. CONFIDENTIALITY. (1) Documents, materials or other information, including the ORSA summary report, in the possession of or control of the department that are obtained by, created by or disclosed to the director or any other person under this chapter are recognized by this state as being proprietary and to contain trade secrets. All such […]
Section 41-6401 – PURPOSE AND SCOPE.
41-6401. PURPOSE AND SCOPE. (1) The purpose and scope of this chapter are to: (a) Provide the insurance director a summary of an insurer or insurance group’s corporate governance structure, policies and practices to permit the director to gain and maintain an understanding of the insurer’s corporate governance framework; (b) Outline the requirements for completing […]
Section 41-6402 – DEFINITIONS.
41-6402. DEFINITIONS. As used in this chapter: (1) "Corporate governance annual disclosure" or "CGAD" means a confidential report filed by the insurer or insurance group made in accordance with the requirements of this chapter. (2) "Insurance group" means those insurers and affiliates included within an insurance holding company system as that term is defined in […]
Section 41-6206 – MOTOR VEHICLE SERVICE CONTRACT REQUIREMENTS.
41-6206. MOTOR VEHICLE SERVICE CONTRACT REQUIREMENTS. Before the sale of any motor vehicle service contract, the motor vehicle service contract provider shall give written notice to the customer clearly disclosing that the purchase of the contract is not required either to purchase or to obtain financing for a motor vehicle. No motor vehicle service contract […]
Section 41-6403 – DISCLOSURE REQUIREMENT.
41-6403. DISCLOSURE REQUIREMENT. (1) A domestic insurer, or the insurance group of which the domestic insurer is a member, shall, no later than June 1 of each calendar year, submit to the director a corporate governance annual disclosure (CGAD) that contains the information described in section 41-6404, Idaho Code. Absent a request from the director […]
Section 41-6207 – PROHIBITED ACTS.
41-6207. PROHIBITED ACTS. (1) A motor vehicle service contract provider may not use in its name, contracts or literature: (a) Any of the words "insurance," "casualty," "surety," "mutual" or any other words descriptive of the insurance, casualty or surety business; or (b) A name deceptively similar to the name or description of any insurance or […]
Section 41-6404 – CONTENTS OF CORPORATE GOVERNANCE ANNUAL DISCLOSURE.
41-6404. CONTENTS OF CORPORATE GOVERNANCE ANNUAL DISCLOSURE. (1) The insurer or insurance group shall have discretion over the responses to the CGAD inquiries, provided the CGAD shall contain the material information necessary to permit the director to gain an understanding of the insurer’s or group’s corporate governance structure, policies and practices including, without limitation, information […]