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SCR111........................................................by STATE AFFAIRS
INSURANCE COMPANIES - Stating findings of the Legislature and recognizing the
need to prevent discriminatory treatment by other states' insurance regulators
of licensed and approved Idaho domiciled insurance companies and reaffirms the
policy and wisdom of existing retaliatory insurance provisions to ensure that
domiciliary states provide fair and equal treatment of Idaho domiciled
insurance companies who apply for or transact business in such domiciliary
states in order to fully protect Idaho insurance consumers and Idaho domestic
insurance companies.
03/04 Senate intro - 1st rdg - to printing
03/05 Rpt prt - to Com/HuRes
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-seventh Legislature First Regular Session - 2003
IN THE SENATE
SENATE CONCURRENT RESOLUTION NO. 111
BY STATE AFFAIRS COMMITTEE
1 A CONCURRENT RESOLUTION
2 STATING FINDINGS OF THE LEGISLATURE AND RECOGNIZING THE NEED TO PREVENT DIS-
3 CRIMINATORY TREATMENT BY OTHER STATES' INSURANCE REGULATORS OF LICENSED
4 AND APPROVED IDAHO DOMICILED INSURANCE COMPANIES AND REAFFIRMING THE POL-
5 ICY AND WISDOM OF EXISTING RETALIATORY INSURANCE PROVISIONS TO ENSURE THAT
6 DOMICILIARY STATES PROVIDE FAIR AND EQUAL TREATMENT OF IDAHO DOMICILED
7 INSURANCE COMPANIES WHO APPLY FOR OR TRANSACT BUSINESS IN SUCH DOMICILIARY
8 STATES IN ORDER TO FULLY PROTECT IDAHO INSURANCE CONSUMERS AND IDAHO
9 DOMESTIC INSURANCE COMPANIES.
10 Be It Resolved by the Legislature of the State of Idaho:
11 WHEREAS, the state of Idaho will benefit by supporting growth of domestic
12 insurance companies that conduct business in Idaho and other states; and
13 WHEREAS, the application of onerous and discriminatory requirements upon
14 Idaho domiciled insurance companies by other states impedes the growth of
15 Idaho insurance companies prepared to sell insurance in other states and is in
16 derision of Idaho's retaliatory insurance law, Section 41-340, Idaho Code; and
17 WHEREAS, the imposition by other states of more stringent requirements
18 upon Idaho companies by such states than are applied to their domestic insur-
19 ance companies that do business in Idaho discriminates against Idaho domestic
20 insurance companies and is contrary to the best interests of Idaho insurance
21 consumers; and
22 WHEREAS, other states which have domestic insurance companies that sell a
23 substantial amount of insurance in Idaho, such as California and Illinois,
24 should not discriminate against Idaho domestic insurance companies by imposing
25 greater requirements on Idaho companies that apply for licensure or transact
26 business in those states; and
27 WHEREAS, in the event other states require Idaho domestic insurance compa-
28 nies to comply with any requirement under the theory of providing greater pro-
29 tection for their consumers than those states require of their domestic insur-
30 ance companies, then Idaho should apply those same requirements to all foreign
31 insurance companies domiciled in those states imposing more stringent require-
32 ments, regardless of whether the foreign company is a new applicant for Idaho
33 licensure or is an authorized insurer selling to customers in Idaho.
34 NOW, THEREFORE, BE IT RESOLVED by the members of the First Regular Session
35 of the Fifty-seventh Idaho Legislature, the Senate and the House of Represen-
36 tatives concurring therein, that the Legislature reaffirms the policy and wis-
37 dom of the retaliatory insurance provisions contained in Section 41-340(3),
38 Idaho Code, and urges the beneficial interpretation and strict enforcement and
39 application of such retaliatory insurance provisions with regard to foreign
40 domiciled insurance companies that transact insurance business in the state of
41 Idaho to ensure that their domiciliary states provide fair and equal treatment
42 of Idaho domiciled insurance companies who apply for or transact business in
43 such domiciliary states in order to fully protect Idaho insurance consumers
44 and Idaho domestic insurance companies.
STATEMENT OF PURPOSE
RS 13119
In 1961 the Idaho legislature adopted House Bill No. 182 to protect
all of the Idaho domestic companies from discriminatory and onerous
requirements imposed upon Idaho domestic insurance carriers by foreign
states. Currently there are states imposing unfair and burdensome
requirements upon Idaho domestic insurance carriers. The purpose of
the concurrent resolution is to reaffirm Idaho s long standing policy
opposing discriminatory treatment by foreign states against any Idaho
domestic insurance carriers.
FISCAL IMPACT
None, the concurrent resolution simply reaffirms Idaho s long
standing public policy.
Contact
Name: Steven J. Tobiason
General Fire and Casualty Company
Phone: Phone 342-4545
STATEMENT OF PURPOSE/FISCAL NOTE SCR 1ll