An insurer is responsible for compliance with the annuity consumer protections act. If a violation occurs, either because of the action or inaction of the insurer or its producer, the director may order:
(1)  An insurer to take reasonably appropriate corrective action for any consumer harmed by a failure to comply with this regulation by the insurer, by an entity contracted to perform the insurer’s supervisory duties, or by the producer;
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Terms Used In Idaho Code 41-1940D

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
(2)  A general agency, an independent agency, or the producer to take reasonably appropriate corrective action for any consumer harmed by the producer’s violation of this regulation; and
(3)  Appropriate penalties and sanctions.