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H0281aa,aa.................................................by STATE AFFAIRS
CROP REVENUE PROTECTION INSURANCE - Amends existing law to provide for the
transaction of crop revenue protection insurance in the state of Idaho.
02/16 House intro - 1st rdg - to printing
02/19 Rpt prt - to Bus
02/28 Rpt out - to Gen Ord
03/02 Rpt out amen - to engros
03/05 Rpt engros - 1st rdg - to 2nd rdg as amen
03/06 2nd rdg - to 3rd rdg as amen
03/08 To Gen Ord
03/12 Rpt out amen - to engros
03/13 Rpt engros - 1st rdg - to 2nd rdg as amen
03/14 2nd rdg - to 3rd rdg as amen
03/15 3rd rdg - PASSED - 62-0-8
AYES -- Barraclough, Barrett, Bedke, Bell, Bieter, Black, Boe, Bolz,
Bradford, Bruneel, Callister, Chase, Clark, Collins, Crow, Cuddy,
Deal, Denney, Ellis, Ellsworth, Eskridge, Field(13), Field(20),
Gould, Hadley, Hammond, Harwood, Henbest, Higgins, Hornbeck, Jaquet,
Jones, Kellogg, Kendell, Lake, Langford, Loertscher, Mader, Marley,
McKague Mortensen, Moss, Moyle, Pearce, Pischner, Pomeroy, Raybould,
Ridinger, Roberts, Robison, Sali, Schaefer, Sellman, Shepherd, Smith,
Smylie, Stevenson, Swan(Block), Tilman, Trail, Young, Mr. Speaker
NAYS -- None
Absent and excused -- Campbell, Gagner, Kunz, Meyer, Montgomery,
Stone, Wheeler, Wood.
Floor Sponsor -- Raybould
Title apvd - to Senate
03/16 Senate intro - 1st rdg - to Com/HuRes
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-sixth Legislature First Regular Session - 2001
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 281
BY STATE AFFAIRS COMMITTEE
1 AN ACT
2 RELATING TO CROP REVENUE PROTECTION INSURANCE; AMENDING SECTION 41-306, IDAHO
3 CODE, TO PROVIDE THAT CERTAIN INSURERS WHO ARE OTHERWISE EXCEPTED FROM THE
4 REQUIREMENT TO OBTAIN A CERTIFICATE OF AUTHORITY SHALL NOT BE EXCEPTED FOR
5 TRANSACTIONS OF CROP REVENUE PROTECTION INSURANCE; AMENDING SECTION
6 41-308, IDAHO CODE, TO PROVIDE CONDITIONS FOR ELIGIBILITY FOR CERTIFICATE
7 OF AUTHORITY FOR INSURERS TRANSACTING CROP REVENUE PROTECTION INSURANCE;
8 AMENDING SECTION 41-506, IDAHO CODE, TO DEFINE CROP REVENUE PROTECTION
9 INSURANCE AND TO MAKE TECHNICAL CORRECTIONS; AMENDING SECTION 41-3603,
10 IDAHO CODE, TO PROVIDE THAT AN INSURER TRANSACTING CROP REVENUE PROTECTION
11 INSURANCE SHALL BE A MEMBER IN THE IDAHO INSURANCE GUARANTY ASSOCIATION
12 NOTWITHSTANDING ANY OTHER EXEMPTION WHICH MIGHT APPLY TO INSURERS OFFERING
13 PROTECTION AGAINST INVESTMENT RISKS; AND DECLARING AN EMERGENCY.
14 Be It Enacted by the Legislature of the State of Idaho:
15 SECTION 1. That Section 41-306, Idaho Code, be, and the same is hereby
16 amended to read as follows:
17 41-306. EXCEPTIONS TO CERTIFICATE OF AUTHORITY REQUIREMENT. A certificate
18 of authority shall not be required of an insurer with respect to the follow-
19 ing:
20 (1) Investigation, settlement, or litigation of claims under its policies
21 lawfully written in this state, or liquidation of assets and liabilities of
22 the insurer (other than collection of new premiums), all as resulting from its
23 former authorized operations in this state.
24 (2) Transactions thereunder subsequent to issuance of a policy covering
25 only subjects of insurance not resident, located or expressly to be performed
26 in this state at time of issuance, and lawfully solicited, written and deliv-
27 ered outside this state.
28 (3) Transactions pursuant to surplus lines coverages lawfully written
29 under chapter 12 of this code, except as required in section 41-308, Idaho
30 Code, for insurers selling or offering for sale, crop revenue protection
31 insurance.
32 (4) Reinsurance, when transacted by an insurer duly authorized by its
33 state of domicile to transact the kind of insurance involved, except as
34 required in section 41-308, Idaho Code, for insurers selling or offering for
35 sale, crop revenue protection insurance.
36 (5) The continuation and servicing of life insurance or disability insur-
37 ance policies or annuity contracts remaining in force as to residents of this
38 state if the insurer has withdrawn from the state and is not transacting new
39 insurance therein.
40 SECTION 2. That Section 41-308, Idaho Code, be, and the same is hereby
41 amended to read as follows:
2
1 41-308. GENERAL ELIGIBILITY FOR CERTIFICATE OF AUTHORITY. To qualify for
2 and hold authority to transact insurance in this state an insurer must be
3 otherwise in compliance with this code and with its charter powers, and must
4 be an incorporated stock insurer, or an incorporated mutual insurer, or a
5 reciprocal insurer, of the same general type as may be formed as a domestic
6 insurer under this code; except that:
7 (1) No insurer shall be authorized to transact insurance in this state
8 which does not maintain reserves as required by chapter 6 (assets and liabili-
9 ties) of this code applicable to the kind or kinds of insurance transacted by
10 such insurer, wherever transacted in the United States.
11 (2) Before granting authority to an insurer to transact insurance in this
12 state, the director shall take into consideration the length of time the
13 insurer has been transacting insurance; the net profit or loss experienced
14 over the previous five (5) years; or any other factor which for good reason he
15 believes could make the admittance of the insurer not in the best interest of
16 the insurance-buying public.
17 (3) The director shall not grant or continue authority to transact insur-
18 ance in this state as to any insurer the management of which is found by him,
19 after a hearing held thereon, to be untrustworthy, or so lacking in insurance
20 experience as to make the proposed operation hazardous to the insurance-buying
21 public; or which, after a hearing held thereon, he has good reason to believe
22 is affiliated directly or indirectly through ownership, control, reinsurance
23 transactions or other insurance or business relations, with any person or per-
24 sons whose business operations are or have been marked, to the detriment of
25 policyholders or stockholders or investors or creditors or of the public, by
26 manipulation or dissipation of assets, or manipulation of accounts, or of
27 reinsurance, or by similar injurious actions.
28 (4) No insurer, including a reinsurer or a company offering surplus
29 lines, that sells or offers for sale, crop revenue protection insurance as
30 defined in section 41-506, Idaho Code, may offer such insurance for sale in
31 the state of Idaho unless:
32 (a) The insurer holds a current certificate of authority to transact
33 insurance in the state of Idaho; and
34 (b) The insurer is rated "A-" or better by A.M. Best company, or an
35 equivalent rating by another rating service acceptable to the director;
36 and
37 (c) The insurer is a member in the Idaho insurance guaranty association.
38 SECTION 3. That Section 41-506, Idaho Code, be, and the same is hereby
39 amended to read as follows:
40 41-506. "CASUALTY INSURANCE" DEFINED. (1) "Casualty insurance" includes:
41 (a) Vehicle insurance. Insurance against loss of or damage to any land
42 vehicle or aircraft or any draft or riding animal or to property while
43 contained therein or thereon or being loaded or unloaded therein or there-
44 from, from any hazard or cause, and against any loss, liability or expense
45 resulting from or incidental to ownership, maintenance or use of any such
46 vehicle, aircraft or animal; and provision of medical, hospital, surgical,
47 disability benefits to injured persons and funeral and death benefits to
48 dependents, beneficiaries, or personal representatives of persons killed,
49 irrespective of legal liability of the insured, when issued as an inci-
50 dental coverage with or supplemental to insurance on the vehicle, aircraft
51 or animal.
52 (b) Automobile guaranty. Insurance of the mechanical condition, or free-
53 dom from defective or worn parts or equipment, of motor vehicles.
3
1 (c) Liability insurance. Insurance against legal liability for the death,
2 injury, or disability of any human being, or for damage to property; and
3 provision of medical, hospital, surgical, disability benefits to injured
4 persons and funeral and death benefits to dependents, beneficiaries or
5 personal representatives of persons killed, irrespective of legal liabil-
6 ity of the insured, when issued as an incidental coverage with or supple-
7 mental to liability insurance.
8 (d) Workmen's Worker's compensation. Insurance of the obligations
9 accepted by, imposed upon, or assumed by employers under law for death,
10 disablement, or injury of employees.
11 (e) Burglary and theft. Insurance against loss or damage by burglary,
12 theft, larceny, robbery, forgery, fraud, vandalism, malicious mischief,
13 confiscation, or wrongful conversion, disposal, or concealment, or from
14 any attempt at any of the foregoing; including supplemental coverage for
15 medical, hospital, surgical, and funeral expense incurred by the named
16 insured or any other person as a result of bodily injury during the com-
17 mission of a burglary, robbery, or theft by another; also insurance
18 against loss of or damage to moneys, coins, bullion, securities, notes,
19 drafts, acceptances, or any other valuable papers and documents, resulting
20 from any cause.
21 (f) Personal property floater. Insurance upon personal effects against
22 loss or damage from any cause, under a personal property floater.
23 (g) Glass. Insurance against loss or damage to glass, including its let-
24 tering, ornamentation, and fittings.
25 (h) Boiler and machinery. Insurance against any liability and loss or
26 damage to property or interest resulting from accidents to or explosions
27 of boilers, pipes, pressure containers, machinery, or apparatus, and to
28 make inspection of and issue certificates of inspection upon boilers,
29 machinery, and apparatus of any kind, whether or not insured.
30 (i) Leakage and fire extinguishing equipment. Insurance against loss or
31 damage to any property or interest caused by the breakage or leakage of
32 sprinklers, hoses, pumps, and other fire extinguishing equipment or appa-
33 ratus, water pipes or containers, or by water entering through leaks or
34 openings in buildings, and insurance against loss or damage to such sprin-
35 klers, hoses, pumps, and other fire extinguishing equipment or apparatus.
36 (j) Credit. Insurance against loss or damage resulting from failure of
37 debtors to pay their obligations to the insured.
38 (k) Malpractice. Insurance against legal liability of the insured, and
39 against loss, damage, or expense incidental to a claim of such liability,
40 and including medical, hospital, surgical, and funeral benefits to injured
41 persons, irrespective of legal liability of the insured, arising out of
42 the death, injury or disablement of any person, or arising out of damage
43 to the economic interest of any person, as the result of negligence in
44 rendering expert, fiduciary, or professional service.
45 (l) Congenital defects. Insurance against congenital defects in human
46 beings.
47 (m) Livestock. Insurance against loss or damage to livestock, and ser-
48 vices of a veterinary veterinarian for such animals.
49 (n) Elevator. Insurance against loss of or damage to any property of the
50 insured, resulting from the ownership, maintenance or use of elevators,
51 except loss or damage by fire, and to make inspections of and issue cer-
52 tificates of inspection upon, elevators.
53 (o) Crop revenue protection. Insurance that guarantees a fixed price or
54 portion thereof, as set by the insurance contract, for an agricultural
55 crop or for a unit of a specific agricultural commodity. This insurance
4
1 does not include physical crop damage insurance or U.S. government crop
2 protection insurance, in whole or in part.
3 (p) Entertainments. Insurance indemnifying the producer of any motion
4 picture, television, radio, theatrical, sport, spectacle, entertainment,
5 or similar production, event, or exhibition against loss from interrup-
6 tion, postponement, or cancelation cancellation thereof due to death,
7 accidental injury, or sickness of perfomers performers, participants,
8 directors, or other principals.
9 (pq) Failure to file certain instruments. Insurance against loss result-
10 ing from failure to file or record written instruments affecting the title
11 of or creating a lien upon personal property.
12 (qr) Miscellaneous. Miscellaneous casualty insurance shall include, but
13 not be limited to, credit unemployment insurance indemnifying a debtor for
14 installment or other periodic payments on the indebtedness while a debtor
15 suffers a loss of income due to involuntary unemployment. Insurance
16 against any other kind of loss, damage, or liability properly a subject of
17 insurance and not within any other kind of insurance as defined in this
18 chapter, if such insurance is not disapproved by the director as being
19 contrary to law or public policy.
20 (2) Provision of medical, hospital, surgical, and funeral benefits, and
21 of coverage against accidental death or injury, as incidental to and part of
22 other insurance as stated under subdivisions (a) (vehicle), (c) (liability),
23 (e) (burglary), and (k) (malpractice) of subsection (1) of this section shall
24 for all purposes be deemed to be the same kind of insurance to which it is so
25 incidental, and shall not be subject to provisions of this code applicable to
26 life or disability insurances.
27 SECTION 4. That Section 41-3603, Idaho Code, be, and the same is hereby
28 amended to read as follows:
29 41-3603. APPLICATION OF ACT. This act shall apply to all kinds of direct
30 insurance, but shall not be applicable to the following:
31 (1) Life, annuity, health or disability insurance;
32 (2) Residual value, mortgage guaranty, financial guaranty or other forms
33 of insurance offering protection against investment risks, except that any
34 insurer who sells or offers for sale, crop revenue protection insurance as
35 defined in section 41-506, Idaho Code, shall be required to obtain an Idaho
36 certificate of authority and to be a participating member in the association;
37 (3) Fidelity or surety bonds, or any other bonding obligations;
38 (4) Credit insurance, vendors' single interest insurance, or collateral
39 protection insurance or any similar insurance protecting the interests of a
40 creditor arising out of a creditor-debtor transaction;
41 (5) Insurance of warranties or service contracts, including insurance
42 that provides for the repair, replacement or service of goods or property,
43 indemnification for repair, replacement or service for the operational or
44 structural failure of the goods or property due to a defect in materials,
45 workmanship, or normal wear and tear, or provides reimbursement for the lia-
46 bility incurred by the issuer of agreements or service contracts that provide
47 such benefits;
48 (6) Title insurance;
49 (7) Ocean marine insurance;
50 (8) Any transaction or combination of transactions between a person
51 (including affiliates of such person) and an insurer (including affiliates of
52 such insurer) which involves the transfer of investment or credit risk unac-
53 companied by transfer of insurance risk;
5
1 (9) Any insurance provided by or guaranteed by government including, but
2 not limited to the state insurance fund, created pursuant to chapter 9, title
3 72, Idaho Code, and the Idaho petroleum clean water trust fund, created pursu-
4 ant to chapter 49, title 41, Idaho Code;
5 (10) Any insurance provided by or through any reciprocal insurer which
6 exclusively insures members who are governmental entities;
7 (11) Insurance written on a retroactive basis to cover known losses for
8 which a claim has already been made and the claim is known to the insurer at
9 the time the insurance is bound; or
10 (12) Domestic reciprocal insurers with fewer than seven (7) subscribers
11 which insure only worker's compensation risks and which only issue fully
12 assessable policies.
13 SECTION 5. An emergency existing therefor, which emergency is hereby
14 declared to exist, this act shall be in full force and effect on and after its
15 passage and approval.
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-sixth Legislature First Regular Session - 2001
Moved by Raybould
Seconded by Lake
IN THE HOUSE OF REPRESENTATIVES
HOUSE AMENDMENTS TO H.B. NO. 281, As Amended
1 AMENDMENT TO SECTION 2
2 On page 2 of the engrossed bill, in line 30, delete "A-" and insert:
3 "B".
4 AMENDMENTS TO SECTION 3
5 On page 3, in line 48, delete "an" and insert: "a perishable"; and in line
6 49, following "specific" insert: "perishable".
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-sixth Legislature First Regular Session - 2001
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 281, As Amended, As Amended
BY STATE AFFAIRS COMMITTEE
1 AN ACT
2 RELATING TO CROP REVENUE PROTECTION INSURANCE; AMENDING SECTION 41-306, IDAHO
3 CODE, TO PROVIDE THAT CERTAIN INSURERS WHO ARE OTHERWISE EXCEPTED FROM THE
4 REQUIREMENT TO OBTAIN A CERTIFICATE OF AUTHORITY SHALL NOT BE EXCEPTED FOR
5 TRANSACTIONS OF CROP REVENUE PROTECTION INSURANCE; AMENDING SECTION
6 41-308, IDAHO CODE, TO PROVIDE CONDITIONS FOR ELIGIBILITY FOR CERTIFICATE
7 OF AUTHORITY FOR INSURERS TRANSACTING CROP REVENUE PROTECTION INSURANCE;
8 AMENDING SECTION 41-506, IDAHO CODE, TO DEFINE CROP REVENUE PROTECTION
9 INSURANCE AND TO MAKE TECHNICAL CORRECTIONS; AND DECLARING AN EMERGENCY.
10 Be It Enacted by the Legislature of the State of Idaho:
11 SECTION 1. That Section 41-306, Idaho Code, be, and the same is hereby
12 amended to read as follows:
13 41-306. EXCEPTIONS TO CERTIFICATE OF AUTHORITY REQUIREMENT. A certificate
14 of authority shall not be required of an insurer with respect to the follow-
15 ing:
16 (1) Investigation, settlement, or litigation of claims under its policies
17 lawfully written in this state, or liquidation of assets and liabilities of
18 the insurer (other than collection of new premiums), all as resulting from its
19 former authorized operations in this state.
20 (2) Transactions thereunder subsequent to issuance of a policy covering
21 only subjects of insurance not resident, located or expressly to be performed
22 in this state at time of issuance, and lawfully solicited, written and deliv-
23 ered outside this state.
24 (3) Transactions pursuant to surplus lines coverages lawfully written
25 under chapter 12 of this code, except as required in section 41-308, Idaho
26 Code, for insurers selling or offering for sale, crop revenue protection
27 insurance.
28 (4) Reinsurance, when transacted by an insurer duly authorized by its
29 state of domicile to transact the kind of insurance involved, except as
30 required in section 41-308, Idaho Code, for insurers selling or offering for
31 sale, crop revenue protection insurance.
32 (5) The continuation and servicing of life insurance or disability insur-
33 ance policies or annuity contracts remaining in force as to residents of this
34 state if the insurer has withdrawn from the state and is not transacting new
35 insurance therein.
36 SECTION 2. That Section 41-308, Idaho Code, be, and the same is hereby
37 amended to read as follows:
38 41-308. GENERAL ELIGIBILITY FOR CERTIFICATE OF AUTHORITY. To qualify for
39 and hold authority to transact insurance in this state an insurer must be
40 otherwise in compliance with this code and with its charter powers, and must
41 be an incorporated stock insurer, or an incorporated mutual insurer, or a
2
1 reciprocal insurer, of the same general type as may be formed as a domestic
2 insurer under this code; except that:
3 (1) No insurer shall be authorized to transact insurance in this state
4 which does not maintain reserves as required by chapter 6 (assets and liabili-
5 ties) of this code applicable to the kind or kinds of insurance transacted by
6 such insurer, wherever transacted in the United States.
7 (2) Before granting authority to an insurer to transact insurance in this
8 state, the director shall take into consideration the length of time the
9 insurer has been transacting insurance; the net profit or loss experienced
10 over the previous five (5) years; or any other factor which for good reason he
11 believes could make the admittance of the insurer not in the best interest of
12 the insurance-buying public.
13 (3) The director shall not grant or continue authority to transact insur-
14 ance in this state as to any insurer the management of which is found by him,
15 after a hearing held thereon, to be untrustworthy, or so lacking in insurance
16 experience as to make the proposed operation hazardous to the insurance-buying
17 public; or which, after a hearing held thereon, he has good reason to believe
18 is affiliated directly or indirectly through ownership, control, reinsurance
19 transactions or other insurance or business relations, with any person or per-
20 sons whose business operations are or have been marked, to the detriment of
21 policyholders or stockholders or investors or creditors or of the public, by
22 manipulation or dissipation of assets, or manipulation of accounts, or of
23 reinsurance, or by similar injurious actions.
24 (4) No insurer, including a reinsurer or a company offering surplus
25 lines, that sells or offers for sale, crop revenue protection insurance as
26 defined in section 41-506, Idaho Code, may offer such insurance for sale in
27 the state of Idaho unless:
28 (a) The insurer holds a current certificate of authority to transact
29 insurance in the state of Idaho; and
30 (b) The insurer is rated "B" or better by A.M. Best company, or an equiv-
31 alent rating by another rating service acceptable to the director.
32 SECTION 3. That Section 41-506, Idaho Code, be, and the same is hereby
33 amended to read as follows:
34 41-506. "CASUALTY INSURANCE" DEFINED. (1) "Casualty insurance" includes:
35 (a) Vehicle insurance. Insurance against loss of or damage to any land
36 vehicle or aircraft or any draft or riding animal or to property while
37 contained therein or thereon or being loaded or unloaded therein or there-
38 from, from any hazard or cause, and against any loss, liability or expense
39 resulting from or incidental to ownership, maintenance or use of any such
40 vehicle, aircraft or animal; and provision of medical, hospital, surgical,
41 disability benefits to injured persons and funeral and death benefits to
42 dependents, beneficiaries, or personal representatives of persons killed,
43 irrespective of legal liability of the insured, when issued as an inci-
44 dental coverage with or supplemental to insurance on the vehicle, aircraft
45 or animal.
46 (b) Automobile guaranty. Insurance of the mechanical condition, or free-
47 dom from defective or worn parts or equipment, of motor vehicles.
48 (c) Liability insurance. Insurance against legal liability for the death,
49 injury, or disability of any human being, or for damage to property; and
50 provision of medical, hospital, surgical, disability benefits to injured
51 persons and funeral and death benefits to dependents, beneficiaries or
52 personal representatives of persons killed, irrespective of legal liabil-
53 ity of the insured, when issued as an incidental coverage with or supple-
3
1 mental to liability insurance.
2 (d) Workmen's Worker's compensation. Insurance of the obligations
3 accepted by, imposed upon, or assumed by employers under law for death,
4 disablement, or injury of employees.
5 (e) Burglary and theft. Insurance against loss or damage by burglary,
6 theft, larceny, robbery, forgery, fraud, vandalism, malicious mischief,
7 confiscation, or wrongful conversion, disposal, or concealment, or from
8 any attempt at any of the foregoing; including supplemental coverage for
9 medical, hospital, surgical, and funeral expense incurred by the named
10 insured or any other person as a result of bodily injury during the com-
11 mission of a burglary, robbery, or theft by another; also insurance
12 against loss of or damage to moneys, coins, bullion, securities, notes,
13 drafts, acceptances, or any other valuable papers and documents, resulting
14 from any cause.
15 (f) Personal property floater. Insurance upon personal effects against
16 loss or damage from any cause, under a personal property floater.
17 (g) Glass. Insurance against loss or damage to glass, including its let-
18 tering, ornamentation, and fittings.
19 (h) Boiler and machinery. Insurance against any liability and loss or
20 damage to property or interest resulting from accidents to or explosions
21 of boilers, pipes, pressure containers, machinery, or apparatus, and to
22 make inspection of and issue certificates of inspection upon boilers,
23 machinery, and apparatus of any kind, whether or not insured.
24 (i) Leakage and fire extinguishing equipment. Insurance against loss or
25 damage to any property or interest caused by the breakage or leakage of
26 sprinklers, hoses, pumps, and other fire extinguishing equipment or appa-
27 ratus, water pipes or containers, or by water entering through leaks or
28 openings in buildings, and insurance against loss or damage to such sprin-
29 klers, hoses, pumps, and other fire extinguishing equipment or apparatus.
30 (j) Credit. Insurance against loss or damage resulting from failure of
31 debtors to pay their obligations to the insured.
32 (k) Malpractice. Insurance against legal liability of the insured, and
33 against loss, damage, or expense incidental to a claim of such liability,
34 and including medical, hospital, surgical, and funeral benefits to injured
35 persons, irrespective of legal liability of the insured, arising out of
36 the death, injury or disablement of any person, or arising out of damage
37 to the economic interest of any person, as the result of negligence in
38 rendering expert, fiduciary, or professional service.
39 (l) Congenital defects. Insurance against congenital defects in human
40 beings.
41 (m) Livestock. Insurance against loss or damage to livestock, and ser-
42 vices of a veterinary veterinarian for such animals.
43 (n) Elevator. Insurance against loss of or damage to any property of the
44 insured, resulting from the ownership, maintenance or use of elevators,
45 except loss or damage by fire, and to make inspections of and issue cer-
46 tificates of inspection upon, elevators.
47 (o) Crop revenue protection. Insurance that guarantees a fixed price or
48 portion thereof, as set by the insurance contract, for a perishable agri-
49 cultural crop or for a unit of a specific perishable agricultural commod-
50 ity. This insurance does not include physical crop damage insurance or
51 U.S. government crop protection insurance, in whole or in part.
52 (p) Entertainments. Insurance indemnifying the producer of any motion
53 picture, television, radio, theatrical, sport, spectacle, entertainment,
54 or similar production, event, or exhibition against loss from interrup-
55 tion, postponement, or cancelation cancellation thereof due to death,
4
1 accidental injury, or sickness of perfomers performers, participants,
2 directors, or other principals.
3 (pq) Failure to file certain instruments. Insurance against loss result-
4 ing from failure to file or record written instruments affecting the title
5 of or creating a lien upon personal property.
6 (qr) Miscellaneous. Miscellaneous casualty insurance shall include, but
7 not be limited to, credit unemployment insurance indemnifying a debtor for
8 installment or other periodic payments on the indebtedness while a debtor
9 suffers a loss of income due to involuntary unemployment. Insurance
10 against any other kind of loss, damage, or liability properly a subject of
11 insurance and not within any other kind of insurance as defined in this
12 chapter, if such insurance is not disapproved by the director as being
13 contrary to law or public policy.
14 (2) Provision of medical, hospital, surgical, and funeral benefits, and
15 of coverage against accidental death or injury, as incidental to and part of
16 other insurance as stated under subdivisions (a) (vehicle), (c) (liability),
17 (e) (burglary), and (k) (malpractice) of subsection (1) of this section shall
18 for all purposes be deemed to be the same kind of insurance to which it is so
19 incidental, and shall not be subject to provisions of this code applicable to
20 life or disability insurances.
21 SECTION 4. An emergency existing therefor, which emergency is hereby
22 declared to exist, this act shall be in full force and effect on and after its
23 passage and approval.
STATEMENT OF PURPOSE
RS 11126
This bill defines "Crop Revenue Protection Insurance", adds the
requirement for sellers of Crop Revenue Protection Insurance,
including reinsurers and surplus line insurance companies, to have an
Idaho Certificate of Authority from the Idaho Department of Insurance
to be qualified to sell such insurance in the State of Idaho. It
removes the exception for reinsurance and surplus lines from needing
an Idaho Certificate of Authority to transact Crop Revenue Protection
Insurance in the State of Idaho.
In addition, this bill requires the insurer to be rated "A " by a
national insurance rating company and be a member of the Idaho
Guaranty Association.
Further, minor spelling and reference corrections are made in other
sections of the bill. *
FISCAL IMPACT
*None
Contact
Name: Rep. Dell Raybould
Phone:332 1000
STATEMENT OF PURPOSE/FISCAL NOTE H 28