41-1217. ELIGIBLE SURPLUS LINES INSURERS. (1) A broker shall not knowingly place surplus lines insurance with an insurer that is unsound financially, or that is ineligible under this section.
(2) The director shall from time to time compile or approve a list of all surplus lines insurers deemed by him to be eligible currently, and shall cause to be sent a copy of such list to each broker at his office last of record with the director. This subsection shall not be deemed to require the director to determine the actual financial condition or claims practices of any unauthorized insurer; and the status of eligibility, if granted by the director, shall indicate only that the insurer appears to be sound financially and to have satisfactory claims practices, and that the director has no credible evidence to the contrary. While any such list is in effect the broker shall restrict to the insurers so listed all surplus lines business placed by him and a person who independently procures its own insurance pursuant to this chapter for risks located in Idaho shall only purchase surplus line insurance from insurers so listed.
(3) An eligible surplus lines insurer shall notify the director of any change to the name of the insurer, its physical or mailing address, or its state of domicile, within sixty (60) days of such change.
History:
[41-1217, added 1961, ch. 330, sec. 261, p. 645; am. 1969, ch. 214, sec. 39, p. 625; am. 1997, ch. 108, sec. 1, p. 252; am. 2002, ch. 91, sec. 5, p. 229; am. 2004, ch. 87, sec. 1, p. 322.]
Structure Idaho Code
Chapter 12 - UNAUTHORIZED INSURERS AND SURPLUS LINES
Section 41-1201 - REPRESENTING OR AIDING UNAUTHORIZED INSURER PROHIBITED.
Section 41-1202 - REPRESENTING OR AIDING UNAUTHORIZED INSURER PROHIBITED — PENALTY.
Section 41-1203 - SUITS BY UNAUTHORIZED INSURER PROHIBITED.
Section 41-1204 - UNAUTHORIZED INSURERS PROCESS ACT — TITLE — INTERPRETATION.
Section 41-1205 - PURPOSE OF PROCESS ACT.
Section 41-1206 - ACTS CONSTITUTING DIRECTOR AS PROCESS AGENT.
Section 41-1207 - HOW PROCESS IS SERVED — DEFAULT JUDGMENT.
Section 41-1208 - DEFENSE OF ACTION BY UNAUTHORIZED INSURER.
Section 41-1209 - UNAUTHORIZED INSURER FAILING TO PAY CLAIM — ATTORNEY FEES.
Section 41-1210 - EXEMPTIONS FROM PROCESS ACT.
Section 41-1211 - SURPLUS LINE LAW — SHORT TITLE — PURPOSE.
Section 41-1212 - EXEMPTIONS FROM SURPLUS LINE LAW.
Section 41-1213 - DEFINITIONS.
Section 41-1214 - CONDITIONS FOR EXPORT.
Section 41-1215 - BROKER’S AFFIDAVIT.
Section 41-1216 - OPEN LINES FOR EXPORT.
Section 41-1217 - ELIGIBLE SURPLUS LINES INSURERS.
Section 41-1218 - ELIGIBLE SURPLUS LINE INSURERS — PENALTY FOR VIOLATION.
Section 41-1219 - EVIDENCE OF THE INSURANCE — CHANGES — PENALTY.
Section 41-1220 - ENDORSEMENT OF CONTRACT.
Section 41-1221 - SURPLUS LINE INSURANCE VALID.
Section 41-1222 - LIABILITY OF INSURER AS TO LOSSES AND UNEARNED PREMIUMS.
Section 41-1223 - LICENSING OF SURPLUS LINE BROKERS.
Section 41-1224 - SUSPENSION OR REVOCATION OF BROKER’S LICENSE.
Section 41-1226 - ACCEPTANCE OF BUSINESS FROM AGENTS.
Section 41-1227 - RECORDS OF BROKER.
Section 41-1228 - ANNUAL REPORT OF BROKER.
Section 41-1229 - TAX ON SURPLUS LINES.
Section 41-1230 - FAILURE TO FILE REPORT OR REMIT TAX — PENALTY.
Section 41-1231 - LEGAL PROCESS AGAINST SURPLUS LINE INSURER.
Section 41-1232 - RULES AND REGULATIONS.
Section 41-1233 - REPORT AND TAX OF INDEPENDENTLY PROCURED COVERAGES.
Section 41-1234 - RECORDS OF INSUREDS.
Section 41-1235 - FALSE ADVERTISING ACT.
Section 41-1236 - MISREPRESENTATION BY UNAUTHORIZED INSURER.