# Idaho Code § 41-1405: 41-1405 RATE STANDARDS

> Idaho · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1405

## Section

- **Citation:** Idaho Code § 41-1405
- **Heading:** 41-1405 RATE STANDARDS
- **Jurisdiction:** Idaho
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Idaho Code / Title 41 / Chapter 14 / Section 41-1405

## Text

41-1405. Rate standards. (1) Rates shall not be excessive, inadequate or unfairly discriminatory.

(2) No rate shall be held to be excessive unless the director finds that:

(a) Such rate is unreasonably high for the insurance provided, and

(b) A reasonable degree of competition does not exist in Idaho with respect to the classification to which the rate is applicable.

(3) No rate shall be held to be inadequate unless the director finds that:

(a) Such rate is unreasonably low for the insurance provided and the continued use of such rate endangers the solvency of the insurer using the same, or

(b) Such rate is unreasonably low for the insurance provided and the use of such rate by the insurer using the same has, or if continued will have, the effect of destroying competition or creating a monopoly.

(4) Neither of such findings shall be made by the director except after a hearing on reasonable notice.

(5) Nothing contained in this chapter shall be construed to repeal or modify the provisions of chapter 13, title 41 (trade practices and frauds), Idaho Code, and any rate, rating classification, rating plan or schedule, or variation thereof, established in violation of any of such provisions shall, in addition to the consequences stated in such chapter or elsewhere, be deemed a violation of this section.

History:

[41-1405, added 1961, ch. 330, sec. 310, p. 645; am. 1969, ch. 306, sec. 3, p. 917; am. 1977, ch. 142, sec. 6, p. 308.]

## Nearby sections

- [Idaho Code § 41-1401 41-1401 SCOPE OF CHAPTER.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1401.md)
- [Idaho Code § 41-1402 41-1402 PURPOSE OF LAW — INTERPRETATION.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1402.md)
- [Idaho Code § 41-1405 41-1405 RATE STANDARDS.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1405.md)
- [Idaho Code § 41-1415 41-1415 RATING ORGANIZATIONS — LICENSING.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1415.md)
- [Idaho Code § 41-1416 41-1416 PERIOD LICENSE EFFECTIVE — RENEWAL — FEE — SUSPENSION OR REVOCATION.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1416.md)
- [Idaho Code § 41-1417 41-1417 ADMISSION OF SUBSCRIBERS — SERVICES NONDISCRIMINATORY.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1417.md)
- [Idaho Code § 41-1420 41-1420 NOTICE OF RATING ORGANIZATION CHANGES.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1420.md)
- [Idaho Code § 41-1421 41-1421 TECHNICAL SERVICES.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1421.md)
- [Idaho Code § 41-1425 41-1425 ADVISORY ORGANIZATIONS.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1425.md)
- [Idaho Code § 41-1426 41-1426 JOINT UNDERWRITING OR JOINT REINSURANCE.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1426.md)
- [Idaho Code § 41-1427 41-1427 EXAMINATION OF INSURERS AND RATING, ADVISORY, JOINT UNDERWRITING, AND JOINT REINSURANCE ORGANIZATIONS.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1427.md)
- [Idaho Code § 41-1428 41-1428 RECORDING AND REPORTING OF LOSS AND EXPENSE EXPERIENCE.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1428.md)
- [Idaho Code § 41-1429 41-1429 INTERCHANGE OF DATA — CONSULTATION.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1429.md)
- [Idaho Code § 41-1430 41-1430 DISCLOSURE OF INFORMATION AND IMMUNITY.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1430.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1405. Check the current official text before relying on it. Not legal advice.