The amount recoverable by the liquidator from reinsurers shall not be reduced as a result of delinquency proceedings, regardless of any provision in the reinsurance contract or other agreement. Payment made directly to an insured or other creditor shall not diminish the reinsurer’s obligation to the insurer’s estate except when the reinsurance contract provided for direct coverage of a named insured and the payment was made in discharge of that obligation.
Idaho Code § 41-3332
Reinsurer’s liability
Known as the Idaho Insurers Supervision, Rehabilitation, and Liquidation Act
The act spans §§ 41–41 (60 sections).
I.C., § 41-3332, as added by 1981, ch. 249, § 2, p. 502.
Current official text: Idaho Statutes (Idaho Legislature). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Idaho statutes; confirm against the official source for the current text. Not legal advice.