Which of the following is an exception to needing a certificate of authority?

The correct answer highlights a key provision within Idaho's adjustment regulations. Settling claims under existing policies does not require a certificate of authority because the act of adjusting claims is considered part of the ongoing management of those policies. Adjusters operate under the authority provided by pre-existing contracts, thereby exempting them from needing a separate certificate specifically for that activity.

In contrast, transacting new insurance typically requires a certificate of authority as it involves legally binding agreements with new clients. Offering discounts to state residents would generally fall under marketing practices subject to regulatory oversight, thus necessitating a certificate when representing the insurer. Similarly, investigating new business opportunities can imply an intent to solicit or enter into new insurance contracts, which would also necessitate proper authorization to ensure compliance with state insurance laws.