Bill > H0562

This bill amends existing Idaho law to revise provisions concerning the cancellation and nonrenewal of certain insurance policies, specifically commercial insurance and standard fire policies. For commercial insurance, the bill increases the required notice period for cancellation due to reasons other than nonpayment of premium or fraud from 30 days to 60 days, and it extends the notice period for nonrenewal from 45 days to 60 days, ensuring coverage remains in effect for the full 60 days if proper notice isn't given. For standard fire policies, the bill mandates a 60-day written notice period for both cancellation and nonrenewal, requiring the reason for the action to be provided to the insured, with a shorter 10-day notice for cancellations due to nonpayment of premium. The bill also clarifies that for nonrenewal of fire policies, if the notice is sent less than 60 days before expiration, coverage will extend for 60 days after the notice is mailed or delivered. These changes aim to provide policyholders with more time and clearer information regarding the termination or nonrenewal of their insurance coverage.

Business and Industry

Business Committee (House)

https://legislature.idaho.gov/sessioninfo/2026/legislation/H0562/