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2016 Insurance Legislation Summary

(All legislation takes effect July 1, 2016 unless otherwise noted.)

Department of Insurance Legislation:

  • Regarding Producer Licensing amending Idaho Code § 41-1016, § 41-1026, and § 41-1108 - Senate Bill 1221 – to (1) provide for summary suspension or revocation of a nonresident Idaho license when the licensee’s home state license has been terminated, (2) to provide that a licensee whose license has been revoked shall not be permitted to obtain a new license until after the expiration of a period of time no less than between one and five years as may be specified in the revocation order, and (3) to provide that a license shall not be issued within a minimum period of one year to a person whose application for a license was previously denied.
    Presenter: Director Cameron
    Floor Sponsors: Senator Nonini and Representative Thompson

Other Insurance-Related Legislation:

  • Principle Based Reserves (PBR) - amending Idaho Code § 41-612, § 41-1927, and § 74-107House Bill 432 - to define terms and to revise methodology how life insurance policies are valued which impacts the amounts of reserves life insurance companies maintain and to provide that certain information submitted to insurance companies shall be exempt for disclosure.
    Presenter: Julie Hart, American Council of Life Insurers
    Floor Sponsors: Representative Clow and Senator Nonini

  • Insurance Company Home Office Requirement – amending Idaho Code § 41-342, and § 41-2839House Bill 440 - , to provide an exception to the requirement that every domestic insurer must have and maintain its principal place of business and home office in this state for certain domestic stock insurers that redomesticate to Idaho.
    Presenter: John Mackey, United Heritage Insurance
    Floor Sponsors: Representative Crane and Senator Winder

  • Worker’s Compensation Insurer Security Deposits - amending Idaho Code § 72-301House Bill 501 - to allow certain types of bonds to be used as security deposits by worker’s compensation insurers for the Idaho Industrial Commission.
    Presenter: Woody Richards, Idaho Loggers Exchange
    Floor Sponsors: Representative Packer and Senator Ward-Engelking

  • Worker’s Compensation Firefighter Presumptive Illness - amending Idaho Code § 72-102 and § 72-438House Bill 554 - to provide a presumption that certain diseases incurred by firefighters, such as specified cancers, would be presumed to be occupationally related unless medical evidence showed otherwise. Legislation sunsets after 5 years.
    Presenter: Representative Malek
    Floor Sponsors: Representative Malek and Senator McKenzie

  • Employer Driver Reimbursement Program - amending § 49-2802Senate Bill 1262 - clarify that a "driver reimbursement program" whereby an employer, or a third party contracted by the employer, that provides mileage or incidental repairs and maintenance to employees who use personal vehicles for business purposes shall not be considered to be a motor vehicle service contract or a contract of insurance.
    Presenter: Roy Eigurern, Eiguren Ellis
    Floor Sponsors: Senator Lacey and Representative Kauffman

  • High Risk Pool Funding - amending § 41-406Senate Bill 1265 - appropriate one-quarter of the insurance premium tax exceeding forty-five million dollars to the Idaho Individual High Risk Reinsurance Pool and thereby reinstate the unintentional repeal of this provision – to be effective July 1, 2017.
    Presenter: Hyatt Erstad, Board Chairman, Idaho High Risk Reinsurance Pool
    Floor Sponsors: Senator Martin and Representative Wood

  • Online Verification of Auto Liability Coverage - amending Idaho Code § 49-1234 and adding new § 41-1338Senate Bill 1283 - to revise provisions regarding the online insurance verification system, to provide that the Idaho Transportation Department shall promulgate rules to provide insurers an alternative method for verifying motor vehicle insurance policy data, to revise provisions regarding the methods of verification, and to provide that failure to comply with specified law regarding uninsured vehicle tracking shall constitute a wrongful practice and subject an insurer to certain penalties under the insurance code.
    Presenter: Robert Compan, Farmers Insurance Group
    Floor Sponsors: Senator Hagedorn and Representative Hixon

Legislation enacted in 2015 taking effect in 2016:

  • Unclaimed Life Insurance - amending Title 41, Idaho CodeSenate Bill 1023 - this legislation adds to existing law, Chapter 30, to be known as the Idaho Unclaimed Life Insurance Benefits Act. This Act establishes requirements related to certain unclaimed life insurance benefits for life insurance companies to abide by. This Act takes effect July 1, 2016.
    Presenter: John Mackey, United Heritage Insurance
    Floor Sponsors: (then) Senator Cameron and Representative Collins

2015 Insurance Legislation Summary

2014 Insurance Legislation Summary

2013 Insurance Legislation Summary