2012-2013 DOI Rulemaking Activity
The following Department of Insurance rules became final and effective upon adjournment of the legislature, April 4, 2013:
18.01.09 – Suitability in Annuity Transactions. Prior rule was repealed, and new rule added based on 2010 NAIC Model Rule; requires the producer or insurer to have reasonable grounds to believe an annuity is suitable based on specific information of the consumer prior to making a recommendation to the consumer; also requires producers engaged in the sale of annuity products to complete a one-time, four-credit training course.
18.01.19 – Insurance Rates and Credit Rating. Clarifies when and how an insurer’s use of consumer credit information will be deemed to be improper and in violation of Idaho Code, and permits insurers to use a neutral credit factor or score against which to measure compliance with Idaho Code, both at initial rating and upon renewal.
18.01.44 – Schedule of Fees, Licenses and Miscellaneous Charges. At original license application, a vendor of portable electronics insurance engaged in portable electronics transactions at more than ten locations in Idaho, the fee is $1000. For a vendor engaged in portable electronics transactions at ten or fewer locations, the fee is $100. At renewal, a vendor of portable electronics insurance engaged in portable electronics transactions at more than ten locations, the renewal fee is $500. A vendor engaged in portable electronics transactions at ten or few locations pays a renewal fee of $100. Fingerprint processing fees are increased up to, but may not exceed, $80.
18.01.56 – Rebates and Illegal Inducements to Obtaining Title Insurance Business. Language added to permit title agents to provide attorneys and appraisers plat maps and copies of CCRs without charge.