Idaho Code 41-4810 – Restrictions On Insurance Purchased by Purchasing Groups
Current as of: 2023 | Check for updates
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Terms Used In Idaho Code 41-4810
- Insurance: means primary insurance, excess insurance, reinsurance, surplus lines insurance, or any other arrangement for shifting and distributing risk which is determined to be insurance under this code. See Idaho Code 41-4803
- Purchasing group: means any group which:
Idaho Code 41-4803Risk retention group: means any corporation or other limited liability association:
Idaho Code 41-4803State: means any state of the United States or the District of Columbia. See Idaho Code 41-4803
A purchasing group may not purchase insurance from a risk retention group that is not chartered in a state, nor from an insurer not admitted in the state in which the purchasing group is located, unless the purchase is effected through a licensed agent or broker acting pursuant to the surplus lines laws and regulations of such state.