2004 Legislation
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HOUSE BILL NO. 487 – Insurers, reports


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Bill Status

H0487...........................................................by BUSINESS
INSURERS - Amends existing law to delete the requirement that insurers file
copies of reports with the National Association of Insurance Commissioners.
01/20    House intro - 1st rdg - to printing
01/21    Rpt prt - to Bus
02/10    Rpt out - rec d/p - to 2nd rdg
02/11    2nd rdg - to 3rd rdg
02/16    3rd rdg - PASSED - 70-0-0
      AYES -- Andersen, Barraclough, Barrett, Bauer, Bayer, Bedke, Bell,
      Black, Block, Boe, Bolz, Bradford, Campbell, Cannon, Clark, Collins,
      Crow, Cuddy, Deal, Denney, Douglas, Eberle, Edmunson, Ellsworth,
      Eskridge, Field(18), Field(23), Gagner, Garrett, Harwood, Henbest,
      Jaquet, Jones, Kellogg(Nonini), Kulczyk, Lake, Langford, Langhorst,
      Martinez, McGeachin, McKague, Meyer, Miller, Mitchell, Moyle,
      Naccarato, Nielsen, Pasley-Stuart, Raybould, Ridinger, Ring, Ringo,
      Roberts, Robison, Rydalch, Sali, Sayler, Schaefer, Shepherd, Shirley,
      Skippen, Smith(30), Smith(24), Smylie, Snodgrass, Stevenson, Trail,
      Wills, Wood, Mr. Speaker
      NAYS -- None
      Absent and excused -- None
    Floor Sponsor - Bayer
    Title apvd - to Senate
02/17    Senate intro - 1st rdg - to Com/HuRes
02/25    Rpt out - rec d/p - to 2nd rdg
02/26    2nd rdg - to 3rd rdg
03/19    3rd rdg - PASSED - 35-0-0
      AYES -- Andreason, Bailey, Brandt, Bunderson, Burkett(Maxand),
      Burtenshaw, Calabretta, Cameron, Compton, Darrington, Davis, Gannon,
      Geddes, Goedde, Hill, Ingram, Kennedy, Keough, Little, Lodge,
      Malepeai, Marley, McKenzie, McWilliams, Noble, Noh, Pearce,
      Richardson, Schroeder, Sorensen, Stegner, Stennett, Sweet, Werk,
      NAYS -- None
      Absent and excused -- None
    Floor Sponsor - Davis
    Title apvd - to House
03/20    To enrol - Rpt enrol - Sp signed - Pres signed
03/22    To Governor
03/24    Governor signed
         Session Law Chapter 310
         Effective: 07/01/04

Bill Text

  ]]]]              LEGISLATURE OF THE STATE OF IDAHO             ]]]]
 Fifty-seventh Legislature                 Second Regular Session - 2004
                              IN THE HOUSE OF REPRESENTATIVES
                                     HOUSE BILL NO. 487
                                   BY BUSINESS COMMITTEE
  1                                        AN ACT
  5    Be It Enacted by the Legislature of the State of Idaho:
  6        SECTION  1.  That  Section  41-345, Idaho Code, be, and the same is hereby
  7    amended to read as follows:
  8        41-345.  REPORT. (1) Every insurer domiciled in this state  shall  file  a
  9    report  with the director disclosing material acquisitions and dispositions of
 10    assets or material nonrenewals, cancellations or revisions of  ceded  reinsur-
 11    ance  agreements  unless such acquisitions and dispositions of assets or mate-
 12    rial nonrenewals, cancellations or revisions of ceded  reinsurance  agreements
 13    have  been  submitted to the director for review, approval or information pur-
 14    poses pursuant to other provisions of the insurance code, laws, rules or other
 15    requirements.
 16        (2)  The report required in subsection (1) of this section is  due  within
 17    fifteen  (15)  days  after  the  end of the calendar month in which any of the
 18    foregoing transactions occur.
 19        (3)  One (1) complete copy of the report, including any exhibits or  other
 20    attachments filed as part thereof, shall be filed with:
 21        (a)  The the Idaho department of insurance; and
 22        (b)  The national association of insurance commissioners.
 23        (4)  All reports obtained by or disclosed to the director pursuant to sec-
 24    tions 41-345 through 41-347, Idaho Code, shall be given confidential treatment
 25    and  shall  not  be  subject  to  subpoena and shall not be made public by the
 26    director, the national association of insurance commissioners,  or  any  other
 27    person,  except  to  insurance  departments of other states, without the prior
 28    written consent of the insurer to which it pertains unless the director, after
 29    giving the insurer who would be affected thereby, notice and an opportunity to
 30    be heard, determines that the interest of policyholders, shareholders  or  the
 31    public  will be served by the publication thereof, in which event the director
 32    may publish all or any part thereof in such manner as he may deem appropriate.

Statement of Purpose / Fiscal Impact

                     STATEMENT  OF  PURPOSE
                            RS 13496
This bill amends a provision of the code that requires that
insurers file reports regarding material acquisitions with the
National Association of Insurance Commissioners (NAIC).  This
requirement is being deleted because the NAIC no longer requires or
wants to receive these reports.

                         FISCAL  IMPACT
There will be no fiscal impact.

Name:     Shad Priest
Agency:   Department of Insurance
Phone:    334-4214

Statement of Purpose/Fiscal Impact                      H 487