Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Surplus Lines Insurance topic
No spam. Unsubscribe anytime.
Committee approves consolidation of surplus-lines broker reporting into premium filings
Summary
The Department of Insurance presented IDAPA 18.06.06, clarifying surplus-lines procedures and consolidating brokers' annual reports with premium tax filings; the committee approved the changes by voice vote.
The committee reviewed the Department of Insurance's proposed surplus-lines rule (IDAPA 18.06.06). Eric Fletcher, company activities bureau chief, said the rewrite simplifies procedures for placement of surplus-line insurance and clarifies that the broker's annual report is satisfied by premium tax filings rather than a separate report — a practice the department said has long been in place.
Fletcher said the Surplus Line Association of Idaho assisted in drafting and that the rule contains no substantive changes beyond clarifying practice and reducing duplicative language. Representative Ehlers moved approval and the committee approved the motion by voice vote.
Why it matters: The change codifies the department's long-standing practice and aligns reporting requirements, which the department said reduces administrative burden for brokers.
Action: Committee approved docket 1806062401; no public opposition was recorded in the transcript.
