41-1402. PURPOSE OF LAW — INTERPRETATION. (1) The purpose of this chapter is to promote the public welfare by regulating insurance rates as herein provided to the end that they shall not be excessive, inadequate or unfairly discriminatory, and to authorize and regulate cooperative action among insurers in rate making and in other matters within the scope of this chapter.
(2) It is the express intent of this chapter to permit and encourage competition between insurers on a sound financial basis, and nothing in this chapter is intended to give the director power to fix and determine a rate level by classification or otherwise.
(3) This chapter shall be liberally interpreted to carry into effect the provisions of this section.
History:
[41-1402, added 1961, ch. 330, sec. 307, p. 645; am. 1969, ch. 306, sec. 2, p. 917.]
Structure Idaho Code
Chapter 14 - PROPERTY INSURANCE RATES
Section 41-1401 - SCOPE OF CHAPTER.
Section 41-1402 - PURPOSE OF LAW — INTERPRETATION.
Section 41-1405 - RATE STANDARDS.
Section 41-1415 - RATING ORGANIZATIONS — LICENSING.
Section 41-1416 - PERIOD LICENSE EFFECTIVE — RENEWAL — FEE — SUSPENSION OR REVOCATION.
Section 41-1417 - ADMISSION OF SUBSCRIBERS — SERVICES NONDISCRIMINATORY.
Section 41-1420 - NOTICE OF RATING ORGANIZATION CHANGES.
Section 41-1421 - TECHNICAL SERVICES.
Section 41-1425 - ADVISORY ORGANIZATIONS.
Section 41-1426 - JOINT UNDERWRITING OR JOINT REINSURANCE.
Section 41-1428 - RECORDING AND REPORTING OF LOSS AND EXPENSE EXPERIENCE.
Section 41-1429 - INTERCHANGE OF DATA — CONSULTATION.
Section 41-1430 - DISCLOSURE OF INFORMATION AND IMMUNITY.
Section 41-1431 - FALSE OR MISLEADING INFORMATION.
Section 41-1432 - PENALTIES FOR VIOLATIONS OR NONCOMPLIANCE.
Section 41-1433 - RULES AND REGULATIONS.
Section 41-1434 - HEARING PROCEDURE.
Section 41-1436 - DEFINITIONS.
Section 41-1437 - MAKING AND USE OF RATES.