ID H0197

Repeals Chapter 38, Title 41, Idaho Code and replaces it with a new comprehensive regulatory framework for insurance holding company systems, acquisitions of control, and mergers.

Establishes filing requirements and director approval procedures for acquisitions of control of domestic insurers, including preacquisition notifications, detailed disclosure statements, and public hearings within 35 days of filing.

Requires registration of insurance holding company systems with the director and establishes standards for transactions between affiliated insurers, including fair and reasonable terms, reasonable charges, and adequate surplus maintenance.

Authorizes the director to examine registered insurers and their affiliates, participate in supervisory colleges with other regulators, and maintain confidential treatment of examination records while allowing information sharing with other regulatory agencies.

Provides enforcement mechanisms including sanctions, injunctive relief, receivership authority, recovery of improper distributions, license suspension or revocation, and allows for mutual insurance holding companies formed through reorganization of domestic mutual insurers.