WHAT IS INDEPENDENTLY PROCURED?

Idaho law provides that all Surplus Line transactions are to take place through licensed S/L brokers. In the event that a sophisticated buyer of insurance accesses the the S/L market directly - totally without the service of any licensed producer or S/L broker - then that insured is Independently Procuring insurance. The IP insured is subject to certain filing and taxation requirements. Contact the Stamping Office for proper forms and instructions.