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House panel backs bill to align Idaho insurance rules with national standards
Summary
The House Business Committee voted to send House Bill 71 to the floor after testimony that the measure will preserve Idaho’s insurance accreditation and make it easier for Idaho‑domiciled insurers to operate across state lines.
The House Business Committee voted Feb. 13 to send House Bill 71 to the floor with a “do pass” recommendation after testimony from the Idaho Department of Insurance and the state’s only domiciled life insurer.
Proponents told the committee the bill adopts group capital calculation provisions consistent with the National Association of Insurance Commissioners (NAIC), which the department says is necessary to keep Idaho companies and jobs in the state and to maintain the department’s accreditation.
Representative Brent Crane, R‑Nampa, introduced the bill and said…
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