Idaho Code
Idaho Code

Idaho Code § 72-901 (2026)

Board of directors of state insurance fund — Creation of state insurance fund. 

✓ current as of May 2026
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Board of directors of state insurance fund — Creation of state insurance fund. 

(1) There is hereby created as an independent body corporate politic a fund, to be known as the state insurance fund, for the purpose of insuring employers against liability for compensation under this worker’s compensation law and the occupational disease compensation law and of securing to the persons entitled thereto the compensation provided by said laws. Such fund shall consist of all premiums and penalties received and paid into the fund, of property and securities acquired by and through the use of moneys belonging to the fund, and of interest earned upon moneys belonging to the fund and deposited or invested as herein provided.

Such fund shall be administered without liability on the part of the state. Such fund shall be applicable to the payment of losses sustained on account of insurance and to the payment of compensation under the worker’s compensation law and the occupational disease compensation law and of expenses of administering such fund.
(2)  The governor shall appoint five (5) persons to be the board of directors of the state insurance fund. One (1) member shall be a licensed insurance agent, one (1) member shall represent businesses of the state, one (1) member shall be a representative of labor, one (1) member shall be a member of the state senate and one (1) member shall be a member of the state house of representatives. The governor shall appoint a chairman from the five (5) directors. The directors shall be appointed for terms of four (4) years, except that all vacancies shall be filled for the unexpired term, provided that the first two (2) appointments the governor makes after the effective date of this act shall serve a term of two (2) years and the other three (3) members shall serve a term of four (4) years. Thereafter, a member shall serve a term of four (4) years. A certificate of appointment shall be filed in the office of the secretary of state. A majority of the members shall constitute a quorum for the transaction of business or the exercise of any power or function of the state insurance fund and a majority vote of the members shall be necessary for any action taken by the board of directors. The members of the board of directors shall appoint a manager of the state insurance fund who shall serve at their pleasure and such other officers and employees as they may require for the performance of their duties and shall prescribe the duties and compensation of each officer and employee. Members of the board of directors shall receive a compensation for service like that prescribed in section 59-509(n), Idaho Code.
(3)  It shall be the duty of the board of directors to direct the policies and operation of the state insurance fund to assure that the state insurance fund is run as an efficient insurance company, remains actuarially sound and maintains the public purposes for which the state insurance fund was created.
(4)  The state insurance fund is subject to and shall comply with the provisions of the Idaho insurance code, title 41, Idaho Code. For purposes of regulation, the state insurance fund shall be deemed to be a mutual insurer. The state insurance fund shall not be a member of the Idaho insurance guaranty association.
(5)  Nothing in this chapter, or in title 41, Idaho Code, shall be construed to authorize the state insurance fund to operate as an insurer in other states.
Notes of Decisions
Cited in 13 cases, 1951–2013 · leading case: Kelso & Irwin, P.A. v. State Ins. Fund, 997 P.2d 591 (Idaho 2000).
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Kelso & Irwin, P.A. v. State Ins. Fund, 997 P.2d 591 (Idaho 2000). · cites it 18× “Idaho Code § 72-901 states that the "fund shall consist of all premiums and penalties received and paid into the fund, of property and securities acquired by and through the use of the moneys belonging to the fund.”
State Ex Rel. Williams v. Musgrave, 370 P.2d 778 (Idaho 1962). · cites it 23× “" I.C. § 72-901. "There is hereby created the office of State Insurance Manager, elsewhere in this chapter referred to as Manager, whose duties it shall be to conduct the business of the state insurance fund, and the said manager is hereby vested with full authority over said…”
Farber v. Idaho State Ins. Fund, 208 P.3d 289 (Idaho 2009). · cites it 7× “See I.C. § 72-901. The Board of Directors sets the Fund’s policies while the Manager conducts the Fund’s day-to-day operations.”
Farber v. Idaho State Ins. Fund, 272 P.3d 467 (Idaho 2012). · cites it 4× “Since the Fund’s inception, the Manager has, on occasion, distributed a dividend to policyholders pursuant to I.C. § 72-915.”
Selkirk Seed Co. v. State Ins. Fund, 18 P.3d 956 (Idaho 2000). · cites it 6× “See I.C. § 72-901(1); Atwood v. State of Idaho, Dept.”
Selkirk Seed Co. v. Forney, 996 P.2d 798 (Idaho 2000). · cites it 4× “See I.C. § 72-901(2). Idaho law also prohibits SIF from operating as an insurer outside the state of Idaho.”
CDA Dairy Queen, Inc. v. State Ins. Fund, 299 P.3d 186 (Idaho 2013). · cites it 2× “” I.C. § 72-901(3). While SIF itself exists to serve a public purpose, the same cannot be said of the retroactive repeal of Idaho Code § 72-915 .”
Bd. of Cnty. Commissioners v. Idaho Health Facilities Auth., 531 P.2d 588 (Idaho 1975). · cites it 3× “The fund, into which premiums were to be paid according to the Workmen's Compensation Law and the Occupational Disease Compensation Laws, was to be administered by a state insurance manager. The manager was to have full powers to administer the fund, including power to…”
State, Dep't of Health & Welfare Ex Rel. Lisby v. Lisby, 890 P.2d 727 (Idaho 1995). · cites it 2× “Having failed to meet the first prong, no judicial deference is given the statutory interpretation of the S.I.F. V. THE PORTION OF THE WORKERS’ COMPENSATION SETTLEMENT AWARD ALLOCATED FOR FUTURE MEDICAL BENEFITS IS EXEMPT FROM GARNISHMENT PURSUANT TO IDAHO CODE § 11-603.”
Rivera v. Johnston, 225 P.2d 858 (Idaho 1951). · cites it 2× “utory bar was raised by the pleadings and the court expressly did not consider whether it could be waived: "We repeat that appellants having pleaded the bar of the statute (section 43-1202, supra), and no claim for compensation having been made and served upon appellant State…”
Randolph E. Farber v. The Idaho State Ins. Fund (Idaho 2009). · cites it 7× “See I.C. § 72-901. The Board of Directors sets the Fund’s policies while the Manager conducts the Fund’s day-to-day operations.”
Randolph E. Farber v. Idaho State Ins. Fund (Idaho 2012). · cites it 4× “Since the Fund’s inception, the Manager has, on occasion, distributed a dividend to policyholders pursuant to I.”
Show all 13 citing cases →
— Idaho Code § 72-901(1) — 2 cases
Selkirk Seed Co. v. State Ins. Fund, 18 P.3d 956 (Idaho 2000). “See I.C. § 72-901(1); Atwood v. State of Idaho, Dept.”
Kelso & Irwin, P.A. v. State Ins. Fund, 997 P.2d 591 (Idaho 2000). “Idaho Code § 72-901 states that the "fund shall consist of all premiums and penalties received and paid into the fund, of property and securities acquired by and through the use of the moneys belonging to the fund.”
— Idaho Code § 72-901(2) — 1 case
Selkirk Seed Co. v. Forney, 996 P.2d 798 (Idaho 2000). “See I.C. § 72-901(2). Idaho law also prohibits SIF from operating as an insurer outside the state of Idaho.”
— Idaho Code § 72-901(3) — 4 cases
Farber v. Idaho State Ins. Fund, 208 P.3d 289 (Idaho 2009). “See I.C. § 72-901. The Board of Directors sets the Fund’s policies while the Manager conducts the Fund’s day-to-day operations.”
CDA Dairy Queen, Inc. v. State Ins. Fund, 299 P.3d 186 (Idaho 2013). “” I.C. § 72-901(3). While SIF itself exists to serve a public purpose, the same cannot be said of the retroactive repeal of Idaho Code § 72-915 .”
Randolph E. Farber v. The Idaho State Ins. Fund (Idaho 2009). “See I.C. § 72-901. The Board of Directors sets the Fund’s policies while the Manager conducts the Fund’s day-to-day operations.”
CDA Dairy Queen, Inc. v. State Ins. Fund (Idaho 2013).
— Idaho Code § 72-901(4) — 2 cases
Kelso & Irwin, P.A. v. State Ins. Fund, 997 P.2d 591 (Idaho 2000). “Idaho Code § 72-901 states that the "fund shall consist of all premiums and penalties received and paid into the fund, of property and securities acquired by and through the use of the moneys belonging to the fund.”
Selkirk Seed Co. v. State Ins. Fund, 18 P.3d 956 (Idaho 2000). “See I.C. § 72-901(1); Atwood v. State of Idaho, Dept.”
— Idaho Code § 72-901(5) — 1 case
Selkirk Seed Co. v. Forney, 996 P.2d 798 (Idaho 2000). “See I.C. § 72-901(2). Idaho law also prohibits SIF from operating as an insurer outside the state of Idaho.”
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