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Examinations

Financial Condition Examinations

The Department conducts financial condition examinations of insurers not less frequently than once every 5 years. Through an Examination Report, the Department evaluates the affairs, transactions, accounts, records, and assets of the insurer to determine its financial condition, ability to fulfill obligations, and compliance with the law.

Examination Reports are adopted through Orders issued by the Director and searchable here.

Market Conduct Examinations and Analysis

Through broad market analysis techniques the Department monitors Idaho’s key market data elements to identify issues or concerns at regulated entities and proactively perform the most effective remedial action. This includes conducting and issuing routine Market Conduct Examinations of insurers. When appropriate, the Department takes collaborative action with other jurisdictions and participates in the multi-state examinations of insurers or entities which may affect Idahoans.

The Market Conduct Annual Statement (MCAS) was developed with the input of state regulators and representatives from the insurance industry. It provides an analysis tool for certain key market data elements that help regulators allocate market analysis resources where they can be most effective.

Data call notifications are emailed to the companies according to NAIC established guidelines. Scorecards are produced each year to show the jurisdiction-wide ratio and the distribution of ratios for all companies filing an MCAS in a given jurisdiction. To view the most current available results, please refer to the NAIC website under Participating Jurisdictions – Idaho and State Scorecards.

Collaborative actions and Market Conduct Examinations are adopted through Orders issued by the Director and searchable here.

Title Company Examinations

Title Agents are examined by the Department not more than every fifth year. This regular examination of the Title Agent’s transactions, assets, tract indexes, abstract records, and other records ascertains compliance with the law. Exceptions, if any, are issued in a Report of Exception Examination.

Report of Exception Examinations are adopted through Orders issued by the Director and searchable here.

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