Idaho § 41-6302
Full text of Idaho Idaho Statutes § 41-6302, with citation guidance and answers to common questions.
§ 41-6302.
definitions. For purposes of this chapter:
(1) "Department" means the state department of insurance.
(2) "Director" means the director of the state department of insurance.
(3) "Insurance group" means, for the purpose of conducting an ORSA, those insurers and affiliates included within an insurance holding company system as defined in section 41-3802 , Idaho Code.
(4) "Insurer" has the same meaning as set forth in section 41-103 , Idaho Code, and shall not include agencies, authorities or instrumentalities of the United States, its possessions and territories, the commonwealth of Puerto Rico, the District of Columbia, or a state or political subdivision of a state. For purposes of this chapter, the term "insurer" includes, but is not limited to:
(a) An entity holding a certificate of authority under chapter 3, title 41 , Idaho Code;
(b) A service corporation holding a certificate of authority under chapter 34, title 41 , Idaho Code;
(c) A managed care organization holding a certificate of authority under chapter 39, title 41 , Idaho Code; and
(d) The state insurance fund created under chapter 9, title 72 , Idaho Code.
(5) "Own risk and solvency assessment" or "ORSA" means a confidential internal assessment, appropriate to the nature, scale and complexity of an insurer or insurance group, conducted by that insurer or insurance group of the material and relevant risks associated with the insurer’s or the insurance group’s current business plan, and the sufficiency of capital resources to support those risks.
(6) "ORSA guidance manual" means the current version of the own risk and solvency assessment guidance manual developed and adopted by the national association of insurance commissioners (NAIC) and as amended from time to time and utilizing the version of the manual adopted by the director by rule, administrative order or bulletin.
(7) "ORSA summary report" means a confidential high-level summary of an insurer’s or an insurance group’s ORSA.
[41-6302, added 2017, ch. 75, sec. 1, p. 188.]
Frequently Asked Questions About Idaho § 41-6302
What does Idaho Statutes § 41-6302 cover?
Section 41-6302 is part of the Idaho Statutes, the codified statutory law of Idaho. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Idaho § 41-6302?
A common citation format is "Idaho Statutes § 41-6302" (Idaho). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Idaho law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Idaho official source linked on this page or consult a licensed Idaho attorney.
How does Idaho § 41-6302 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Idaho can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Idaho.