41-1426 JOINT UNDERWRITING OR JOINT REINSURANCE.

41-1426. Joint underwriting or joint reinsurance. (1) Every group, association, or other organization of insurers which engages in joint underwriting or joint reinsurance, shall be subject to regulation with respect thereto as herein provided, subject, however, with respect to joint underwriting, to all other applicable provisions of this chapter, or chapter 16 (worker's compensation rates), title 41, Idaho Code, and, with respect to joint reinsurance to sections as follows:

(a) Section 41-1427 (examination of rating, advisory, and joint reinsurance organizations);

(b) Section 41-1432 (penalties); and

(c) Section 41-1434 (hearing procedure).

(2) If, after a hearing, the director finds that any activity or practice of any such group, association or other organization is unfair or unreasonable or otherwise inconsistent with the applicable provisions of this chapter, or chapter 16, title 41, Idaho Code, he may issue a written order specifying in what respects such activity or practice is unfair or unreasonable or otherwise inconsistent with such provisions, and requiring the discontinuance of such activity or practice.

History:

[41-1426, added 1961, ch. 330, sec. 331, p. 645; am. 1969, ch. 306, sec. 6, p. 917; am. 2005, ch. 77, sec. 11, p. 262.]