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Committee approves life‑settlement rule rewrite; department says no substantive changes
Summary
The House Business Committee approved IDAPA docket 18.03.02.2401, a negotiated rewrite of life‑settlement rules that the Department of Insurance said reduces duplication with statute and cuts about 30% of the rule text without substantive changes.
Eric Fletcher, company activities bureau chief and chief examiner for the Idaho Department of Insurance, presented IDAPA 18.03.02.2401, a rewrite of life‑settlement rules. Fletcher told the committee the rule “sets requirements for the sale and settlement of life insurance contracts where the owner is an Idaho resident,” and that the rewrite’s purpose was to simplify, clarify and reduce duplication with statute. “30% of word reductions were made. There were no substantive changes,” he said.
Representative Cannon moved to accept docket 18.03.02.2401. The committee voted in favor by voice vote. Committee members recorded no public testimony or opposition in the committee record during the presentation; Fletcher said negotiated rulemaking produced no opposition.
The rewrite was described as aligning rule text with existing statutory requirements (the department referenced Idaho insurance statutes in Title 41 during the presentation) and formalizing existing negotiated practices. The transcript does not show further amendments to the docket on the floor; the motion to approve carried.
