(1) An individual carrier may apply to become a risk-assuming carrier by filing an application with the director in a form and manner prescribed by the director. (2) The director shall consider the following factors in evaluating an application filed under the provisions of subsection (1) of this section: (a) The carrier's financial condition; (b) The carrier's history of rating and underwriting individuals; (c) The carrier's commitment to market fairly to all individuals in the state or its established geographic service area, as applicable; (d) The carrier's experience with managing the risk of individuals; and (e) The extent to which a carrier has and will be able to maintain reinsurance pursuant to the provisions of subsection (3) of section 41-5204 , Idaho Code. (3) The director shall provide public notice of an application by an individual carrier to be a risk-assuming carrier and shall provide at least a sixty (60) day period for public comment prior to making a decision on the application. If the application is not acted upon within ninety (90) days of the receipt of the application by the director, the carrier may request a hearing. (4) The director may rescind the approval granted to a risk-assuming carrier under the provisions of this section if the director finds that: (a) The carrier's financial condition will no longer support the assumption of risk from issuing coverage to individuals in compliance with the provisions of section 41-5208 , Idaho Code, without the protection afforded by the program; (b) The carrier has failed to market fairly to all individuals in the state or its established geographic service area, as applicable; or (c) The carrier has failed to provide coverage to eligible individuals as required in section 41-5208 , Idaho Code. (5) An individual carrier electing to be a risk-assuming carrier shall not be subject to the provisions of section 41-4711 , Idaho Code, except to the extent such individual carrier is subject to assessment for additional funding pursuant to the provisions of subsection (12)(c) of section 41-4711 , Idaho Code.
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