Notice Provisions

01. Notice by MGA. Upon licensure and, thereafter, on or before July 1 of each year, any person acting in the state of Idaho as an MGA provides notice to the Director, which includes: (7-1-26) a. A certified copy of the surety bond prescribed by Section 41-1503(3), Idaho Code. (7-1-26) b. Proof of insurance coverage as prescribed by Section 013. (7-1-26) c. The appropriate nonrefundable designation fee prescribed by IDAPA 18.01.02. (3-31-22) d. A list of all names and addresses of insurers doing business in the State of Idaho or Idaho domestic insurers with which the MGA has a contract and a verified statement on a form provided by the Department that the contract(s) contain the provisions prescribed by Section 41-1504, Idaho Code. (3-31-22) 02. Notice by Insurer. In addition to those items specified in Section 41-1505(5), Idaho Code notice by the insurer will include: (7-1-26) a. The name and address of the MGA; (3-31-22) b. Proof that the MGA has met the bonding requirements of Section 41-1503(3), Idaho Code; (7-1-26) c. Proof that the MGA has met insurance requirements of Section 013; (7-1-26) d. Procedures and timetable for conducting an onsite review of the underwriting and claims processing operation of the MGA as prescribed by Section 41-1505(3), Idaho Code; and (3-31-22) e. The name of an officer of the insurer responsible for the contract. (3-31-22)