INSURANCE – Adds to existing law to establish provisions regarding transparency requirements for certain insurers.

This bill requires Idaho fire insurers to disclose more transparent information about how they calculate premiums and wildfire risk scores. Specifically, insurers must submit complete rate filings 60 days before use, including details about any wildfire risk models they use, and post discount information for property mitigation actions on their public websites. Insurers must also send annual written notices to policyholders explaining their wildfire risk score in plain language, including how it was calculated and how mitigation actions could lower it. These requirements directly affect fire insurers operating in Idaho and their policyholders, aiming to improve clarity around premium pricing and risk assessment. The bill also mandates that the state insurance department collect annual data on fire insurance and publish anonymized consumer education resources by 2027.