US Laws, Codes, Statutes & Cases

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 17
                           BUSINESS TRANSACTED WITH
                          BROKER CONTROLLED INSURER
    41-1706.  PENALTIES. (1) If the director believes that the controlling
broker or any other person has not materially complied with the provisions of
this chapter, or any regulation or order promulgated hereunder, after notice
and opportunity to be heard, the director may order the controlling broker to
cease placing business with the controlled insurer; and, if it was found that
because of such material noncompliance that the controlled insurer or any
policyholder thereof has suffered any loss or damage, the director may
maintain a civil action or intervene in an action brought by or on behalf of
the insurer or policyholder for recovery of compensatory damages for the
benefit of the insurer or policyholder or other appropriate relief.
    (2)  If an order for liquidation or rehabilitation of the controlled
insurer has been entered pursuant to chapter 33, title 41, Idaho Code, and the
receiver appointed under that order believes that the controlling broker or
any other person has not materially complied with the provisions of this
chapter, or any regulation or order promulgated hereunder, and the insurer
suffered any loss or damage therefrom, the receiver may maintain a civil
action for recovery of damages or other appropriate sanctions for the benefit
of the insurer.
    (3)  Nothing contained in this section shall affect the right of the
director to impose any other penalties provided for in the insurance code.
    (4)  Nothing contained in this section is intended to, or shall in any
manner, alter or affect the rights of policyholders, claimants, creditors or
other third parties.