This bill amends Chapter 24, Title 41 of the Idaho Code by adding a new section, 41-2402, which establishes transparency requirements for fire insurers. Under this new section, fire insurers are required to submit complete rate filings to the Department of Insurance at least 60 days prior to their use. If they utilize wildfire risk models or scoring methods, these must be included in the filings along with detailed descriptions and justifications. Additionally, insurers must provide accessible information on their websites regarding premium discounts and incentives for policyholders who engage in property-specific or community-level mitigation actions.

The bill also mandates that insurers provide annual written notices to policyholders or applicants regarding their wildfire risk scores and any applicable mitigation discounts. This includes a plain-language explanation of the risk score, the range of possible scores, and the factors influencing the assigned score. Insurers are required to communicate the wildfire risk score to applicants and policyholders within specified timeframes, and the Department of Insurance will collect data annually from fire insurers to inform consumers. The act is set to take effect on July 1, 2026, and includes provisions for the Department to create rules to implement these requirements.