Idaho Code 41-2401 requires that fire insurance policies issued on property in Idaho be written using which standard form as their baseline?
A. The Idaho Uniform Fire Contract of 2010
B. The New York standard fire policy as revised in 1943
C. The NAIC Model Fire Policy of 1995
D. The FAIR Plan Basic Form
Show answer and reasoning
Correct answer: B. The New York standard fire policy as revised in 1943
Correct. Idaho Code 41-2401 mandates use of the New York standard fire policy as revised in 1943 as the baseline form for Idaho fire policies.
- A: Incorrect. There is no 'Idaho Uniform Fire Contract' baseline form specified in the statute.
- C: Incorrect. The statute references the New York 1943 standard, not an NAIC model form by that name.
- D: Incorrect. A FAIR Plan form is a distinct residual-market product, not the statutory baseline referenced in 41-2401.
Source: Idaho Code 41-2401
Under Idaho Code 41-2401, unless otherwise stated in the policy, fire insurance coverage attaches (becomes effective) at what time on the effective date, based on the standard time of the property's location?
A. 8:00 a.m.
B. 12:01 a.m.
C. Noon
D. Midnight, but only for commercial risks
Show answer and reasoning
Correct answer: B. 12:01 a.m.
Correct. Idaho Code 41-2401 specifies coverage attaches at 12:01 a.m. standard time of the location of the covered property, absent a different policy provision.
- A: Incorrect. 8:00 a.m. is not the statutory attachment time.
- C: Incorrect. Noon is not the statutory time referenced.
- D: Incorrect. The 12:01 a.m. standard applies generally under the statute, not only to commercial risks.
Source: Idaho Code 41-2401
Under Idaho Code 41-2401, which of the following types of insurance is expressly exempted from the requirement to use the standard fire policy form?
A. Homeowners dwelling fire coverage
B. Inland marine insurance
C. Commercial building fire coverage
D. Standard DP-1 dwelling fire coverage
Show answer and reasoning
Correct answer: B. Inland marine insurance
Correct. Idaho Code 41-2401 exempts vehicle, marine, inland marine, and crop insurance from the requirement to use the standard fire policy form.
- A: Incorrect. Dwelling fire coverage generally falls within the scope the standard form is intended to address.
- C: Incorrect. Commercial building fire coverage is a core use case the standard form addresses, not an exemption.
- D: Incorrect. DP-1 dwelling fire coverage is squarely within the type of coverage the standard fire form requirement targets.
Source: Idaho Code 41-2401
Under Idaho Code 41-2401, an insurer may exclude coverage for loss caused by nuclear reaction, radiation, or radioactive contamination:
A. Under no circumstances - such exclusions are always void in Idaho
B. Unless the policy is specifically endorsed to provide such coverage
C. Only for commercial policies, never for personal lines
D. Only if the insured is a licensed nuclear facility operator
Show answer and reasoning
Correct answer: B. Unless the policy is specifically endorsed to provide such coverage
Correct. Idaho Code 41-2401 allows insurers to exclude nuclear reaction, radiation, or radioactive contamination losses unless the policy is specifically endorsed to add that coverage.
- A: Incorrect. The statute permits, rather than prohibits, a nuclear exclusion.
- C: Incorrect. The statute's nuclear-exclusion allowance is not restricted only to commercial policies.
- D: Incorrect. The exclusion is a general policy provision option, not conditioned on the insured's industry or occupation.
Source: Idaho Code 41-2401
Under the current version of Idaho Code 41-1842, a commercial property or liability insurer generally must provide how many days' written notice before cancelling a policy for reasons other than nonpayment of premium, once the policy has been in force more than 60 days?
A. 10 days
B. 30 days
C. 90 days
D. There is no notice requirement
Show answer and reasoning
Correct answer: B. 30 days
Correct. Under the currently effective version of Idaho Code 41-1842, the standard notice period for cancellation on grounds other than nonpayment is 30 days.
- A: Incorrect. 10 days is the shorter notice period that applies specifically to cancellation for nonpayment of premium, not other grounds.
- C: Incorrect. 90 days is not the statutory notice period specified.
- D: Incorrect. Idaho Code 41-1842 does impose a notice requirement for cancellation of covered commercial policies.
Source: Idaho Code 41-1842
