Idaho Administrative Code
Title IDAPA 18 - Insurance, Department of
Rule 18.06.05 - MANAGING GENERAL AGENTS
Section 18.06.05.011 - NOTICE PROVISIONS
Universal Citation: ID Admin Code 18.06.05.011
Current through August 31, 2023
01. Notice by MGA. Upon licensure and, thereafter, on or before July 1 of each year, any person, firm, association or corporation acting in the state of Idaho in the capacity of an MGA as defined in Section 41-1502(3), Idaho Code, provides notice to the Director of the Department which includes: (3-31-22)
a. A certified copy of the surety
bond prescribed by Subsection
013.01. (3-31-22)
b. Proof of insurance coverage as prescribed
by Subsection 013.02.
(3-31-22)
c. The appropriate
nonrefundable designation fee prescribed by IDAPA 18.01.02. (3-31-22)
d. A list of all names and addresses of
insurers doing business in the State of Idaho or Idaho domestic insurers with
which the MGA has a contract and a verified statement on a form provided by the
Department that the contract(s) contain the provisions prescribed by Section
41-1504, Idaho Code.
(3-31-22)
02. Notice by Insurer. In addition to those items specified in 41-1505(5), notice by the insurer will include: (3-31-22)
a. The name and address of the MGA;
(3-31-22)
b. Proof that the MGA has
met the bonding and insurance requirements of Section
013; (3-31-22)
c. Procedures and timetable for conducting an
onsite review of the underwriting and claims processing operation of the MGA as
prescribed by Section
41-1505(3), Idaho
Code; and (3-31-22)
d. The name of
an officer of the insurer responsible for the contract.
(3-31-22)
Disclaimer: These regulations may not be the most recent version. Idaho may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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