Idaho H0618 establishes transparency requirements for fire insurers, including wildfire risk disclosures and annual data collection.

Idaho H0618 amends existing law to establish transparency requirements for fire insurers. Insurers must submit complete rate filings to the department of insurance at least sixty days prior to use. If using a wildfire risk model, insurers must provide an annual written notice to each policyholder or applicant upon application for property insurance. This notice must include a plain-language explanation of the wildfire risk score, the range of scores that could be assigned, and the relative position of the score assigned to the property.

Idaho H0618 establishes transparency requirements for fire insurers, including wildfire risk disclosures and annual data collection.

Idaho H0618 amends existing law to establish transparency requirements for fire insurers. Insurers must submit complete rate filings to the department of insurance at least sixty days prior to use. If using a wildfire risk model, insurers must provide an annual written notice to each policyholder or applicant upon application for property insurance. This notice must include a plain-language explanation of the wildfire risk score, the range of scores that could be assigned, and the relative position of the score assigned to the property.