This bill amends Section 41-1315 of the Idaho Code to clarify exceptions to discrimination or rebate provisions in insurance practices. The revised language specifies that certain practices will not be considered discriminatory or illegal inducements, including the payment of bonuses to policyholders, adjustments to premiums based on loss experience, and the issuance of policies at reduced rates related to savings from specific payment plans. Additionally, the bill introduces new provisions that allow insurers to offer value-added products or services at no or reduced cost, provided they meet specific criteria related to risk management, health enhancement, and customer support.

The bill also establishes a framework for insurers or producers to conduct pilot programs for new products or services that may not yet have sufficient evidence of compliance with the outlined criteria. The director of the department of insurance is granted the authority to adopt regulations to ensure consumer protection in relation to these practices. The act is set to take effect on July 1, 2025, following the declaration of an emergency.

Statutes affected:
Bill Text: 41-1315