Idaho § 41-5210 - Application to become a risk-assuming carrier

§ 41-5210. Application to become a risk-assuming carrier

(1) An individual carrier may apply to become a risk-assuming carrier by filing an application with the director in a form and manner prescribed by the director.

(2) The director shall consider the following factors in evaluating an application filed under the provisions of subsection (1) of this section:

(a) The carrier’s financial condition;

(b) The carrier’s history of rating and underwriting individuals;

(c) The carrier’s commitment to market fairly to all individuals in the state or its established geographic service area, as applicable;

(d) The carrier’s experience with managing the risk of individuals; and

(e) The extent to which a carrier has and will be able to maintain reinsurance pursuant to the provisions of subsection (3) of section 41-5204 , Idaho Code.

(3) The director shall provide public notice of an application by an individual carrier to be a risk-assuming carrier and shall provide at least a sixty (60) day period for public comment prior to making a decision on the application. If the application is not acted on within ninety (90) days of the receipt of the application by the director, the carrier may request a hearing.

(4) The director may rescind the approval granted to a risk-assuming carrier under the provisions of this section if the director finds that:

(a) The carrier’s financial condition will no longer support the assumption of risk from issuing coverage to individuals in compliance with the provisions of section 41-5208 , Idaho Code, without the protection afforded by the program;

(b) The carrier has failed to market fairly to all individuals in the state or its established geographic service area, as applicable; or

(c) The carrier has failed to provide coverage to eligible individuals as required in section 41-5208 , Idaho Code.

[41-5210, added 1994, ch. 427, sec. 1, p. 1347; am. 2025, ch. 49, sec. 12, p. 253.]