Print Friendly HOUSE BILL NO. 90 – Insurers, examination, when
HOUSE BILL NO. 90
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INSURERS - EXAMINATION - Amends existing law relating to property insurance
rates to increase the maximum period for examination by the director of the
Department of Insurance of insurers and certain organizations from three
years to five years.
02/01 House intro - 1st rdg - to printing
02/02 Rpt prt - to Bus
02/26 Rpt out - rec d/p - to 2nd rdg
02/27 2nd rdg - to 3rd rdg
02/28 3rd rdg - PASSED - 68-0-2
AYES -- Anderson, Andrus, Barrett, Bayer, Bedke, Bell, Bilbao, Black,
Block, Bock, Boe, Bolz, Brackett, Bradford, Chadderdon, Chavez, Chew,
Clark, Collins, Crane, Durst, Edmunson, Eskridge, Hagedorn, Hart,
Harwood, Henbest, Henderson, Jaquet, Killen, King, Kren, Labrador,
Lake, LeFavour, Loertscher, Luker, Marriott, Mathews, McGeachin,
Mortimer, Moyle, Nielsen, Nonini, Pasley-Stuart, Patrick, Pence,
Raybould, Ring, Ringo, Roberts, Ruchti, Rusche, Sayler, Schaefer,
Shepherd(2), Shepherd(8), Shirley, Shively, Smith(30), Smith(24),
Snodgrass, Stevenson, Thayn, Trail, Vander Woude, Wood(27), Mr.
NAYS -- None
Absent and excused -- Wills, Wood(35)
Floor Sponsor - Patrick
Title apvd - to Senate
03/01 Senate intro - 1st rdg - to Com/HuRes
03/16 Rpt out - rec d/p - to 2nd rdg
03/19 2nd rdg - to 3rd rdg
03/22 3rd rdg - PASSED - 35-0-0
AYES -- Andreason, Bair, Bastian, Bilyeu, Broadsword, Burkett,
Cameron, Coiner, Corder, Darrington, Davis, Fulcher, Gannon, Geddes,
Goedde, Hammond, Heinrich, Hill, Jorgenson, Kelly, Keough, Langhorst,
Little, Lodge, Malepeai, McGee, McKague, McKenzie, Pearce,
Richardson, Schroeder, Siddoway, Stegner, Stennett, Werk
NAYS -- None
Absent and excused -- None
Floor Sponsor - Cameron
Title apvd - to House
03/23 To enrol - Rpt enrol - Sp signed - Pres signed
03/26 To Governor
03/30 Governor signed
Session Law Chapter 279
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]]
Fifty-ninth Legislature First Regular Session - 2007
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 90
BY BUSINESS COMMITTEE
1 AN ACT
2 RELATING TO PROPERTY INSURANCE RATES; AMENDING SECTION 41-1427, IDAHO CODE, TO
3 INCREASE THE MAXIMUM PERIOD FOR EXAMINATION BY THE DIRECTOR OF INSURERS
4 AND CERTAIN ORGANIZATIONS FROM THREE YEARS TO FIVE YEARS AND TO MAKE TECH-
5 NICAL CORRECTIONS.
6 Be It Enacted by the Legislature of the State of Idaho:
7 SECTION 1. That Section 41-1427, Idaho Code, be, and the same is hereby
8 amended to read as follows:
9 41-1427. EXAMINATION OF INSURERS AND RATING, ADVISORY, JOINT UNDERWRIT-
10 ING, AND JOINT REINSURANCE ORGANIZATIONS. (1) As often as he deems necessary,
11 and not less frequently than each three five ( 35) years, the director shall
12 examine each licensed rating organization, each advisory organization, each
13 group, association or other organization of insurers which engages in joint
14 underwriting or joint reinsurance, and each authorized insurer transacting in
15 this state any class of insurance to which the provisions of this chapter are
16 applicable. The examination shall be for the purpose of ascertaining compli-
17 ance by the person examined with the applicable provisions of this chapter. As
18 to insurers, no such examination requirement shall be satisfied by the peri-
19 odic examination of the insurer's general affairs.
20 (2) In lieu of any such examination the director may accept the report of
21 a similar examination made by the insurance supervisory official of another
23 (3) The reasonable cost of the examination shall be paid by the person
24 examined, and such person shall be subject, as though an "insurer," to the
25 provisions of section 41-228, Idaho Code, (examination expense).
26 (4) Such examination shall also be subject to the applicable provisions
27 of sections 41-223, Idaho Code, (conduct of examination), 41-227, Idaho Code,
28 (examination report), 41-229, Idaho Code, (witnesses and evidence) , and
29 41-230, Idaho Code, (testimony compelled ; -- immunity from prosecution).
STATEMENT OF PURPOSE
Idaho Code Section 41-1427 authorizes the department to examine
insurance rate making organizations, advisory organizations,
joint reinsurance organizations and group, association or any
other organization of insurers which engages in joint
underwriting or joint reinsurance every three years.
This proposal changes the three year examination requirement for
these entities to every five years. This change will provide
the Department greater flexibility in allocating its examination
resources and is consistent with the examination requirements of
Idaho Code §41-219(1) for domestic insurance companies.
No fiscal impact.
Name: Georgia Hill
Agency: Insurance, Dept. of
STATEMENT OF PURPOSE/FISCAL NOTE H 90