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 […]
Section 41-6208 – RECORDKEEPING REQUIREMENTS.
41-6208. RECORDKEEPING REQUIREMENTS. (1) All motor vehicle service contract providers shall keep accurate accounts, books and records concerning transactions regulated under the provisions of this act. A motor vehicle service contract provider’s accounts, books and records shall include: (a) Copies of all motor vehicle service contracts issued; (b) The name and address of each motor […]
Section 41-6405 – CONFIDENTIALITY.
41-6405. CONFIDENTIALITY. (1) Documents, materials or other information, including the CGAD, in the possession or control of the department of insurance 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 documents, […]
Section 41-6209 – LICENSING.
41-6209. LICENSING. Motor vehicle service contract providers, and persons marketing, administering, selling or offering to sell motor vehicle service contracts for motor vehicle service contract providers, are not required to obtain a license under title 41, Idaho Code. A motor vehicle service contract provider shall not be subject to regulation under any provision of title […]
Section 41-6406 – NAIC AND THIRD-PARTY CONSULTANTS.
41-6406. NAIC AND THIRD-PARTY CONSULTANTS. (1) The director may retain third-party consultants not otherwise part of the director’s staff as may be reasonably necessary to assist the director in reviewing the CGAD and related information or the insurer’s compliance with this chapter. (2) Any persons retained under subsection (1) of this section shall be under […]
Section 41-6210 – GUARANTY.
41-6210. GUARANTY. The provisions of the Idaho insurance guaranty association act, chapter 36, title 41, Idaho Code, shall not apply to any motor vehicle service contract, mechanical breakdown insurance or motor vehicle service contract liability insurance policy, as defined in this chapter, and no claim under any motor vehicle service contract, mechanical breakdown insurance or […]
Section 41-6211 – ENFORCEMENT AND PENALTIES.
41-6211. ENFORCEMENT AND PENALTIES. (1) The director may conduct examinations of motor vehicle service contract providers, administrators, insurers or other persons to enforce the provisions of this chapter and to protect motor vehicle service contract holders in this state. Upon request of the director, the provider shall make available to the director all accounts, books […]