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Deposit Requirements, Foreign and Alien Insurers

Title 41, Chapter 3 Idaho Code, (41-316)

All foreign insurers, except foreign title insurers, are required to have on deposit with the Director of the Department of Insurance of the State of Idaho, OR with the duly authorized official of the domiciliary state, a sum in the amount of one million ($1,000,000), in trust for the protection of all its policyholders or of all its policyholders and creditors.

As to foreign title insurers, in lieu of such Idaho deposit, the director shall accept the certificate or certificates in proper form from the public official or officials having supervision over title insurers in any other state or states to the effect that a like deposit or total deposits by such insurer, in an equal or greater amount than required in this section, are being maintained in public custody or control for the protection generally of the insurer’s policyholders or its policyholders and creditors.

As to alien insurers, in lieu of such deposit or part thereof in this state, the director will accept evidence satisfactory to him that the insurer maintains within the United States by way of trust deposits with public depositories, or in trust institutions acceptable to the director, assets available for discharge of its United States insurance obligations, which assets shall be in an amount not less than the outstanding liabilities of the insurer arising out of its insurance transactions in the United States together with a surplus of one million dollars ($1,000,000).

*If authorized for Managed Care only, deposit requirements may be determined by Section 41-3905(8) and IDAPA 18.01.26.

**If authorized for Limited Managed Care Plan, deposit requirements may be determined by Section
41-3905(2).