reglab/statecodes huggingface dataset:
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515G - MUTUAL INSURANCE COMPANY CONVERSIONS › Section 515G.14 - Limitation of actions — security for attorney fees.

515G.14 Limitation of actions — security for attorney fees.
1. An action challenging the validity of a conversion plan, or any part of a conversion plan, shall not be commenced more than thirty days following the date of approval by the commissioner, unless an application for rehearing is filed pursuant to section 17A.16, subsection 2. If an application for rehearing is filed, then such action must be filed within thirty days after that application is denied or deemed denied or, if the application is granted, within thirty days after the issuance of the commissioner’s final decision on rehearing.
2. The successor stock company or any defendant may require the plaintiff in such an action to give security for the reasonable attorney fees which may be incurred by any party to the action. The amount of the security may be increased or decreased in the discretion of the court having jurisdiction if a showing is made that the security provided is or may become inadequate or excessive.
90 Acts, ch 1083, §14; 2000 Acts, ch 1023, §34
[Subsection 2 was inadvertently omitted from Code 2001 through Code 2007]
2019 Acts, ch 24, §104
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515G - MUTUAL INSURANCE COMPANY CONVERSIONS › Section 515G.15 - Duties of secretary of state.

515G.15 Duties of secretary of state.
After approval of the conversion plan by the commissioner and the policyholders, the secretary of state shall accept for filing a verified copy of the amended articles of incorporation.
90 Acts, ch 1083, §15
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515H - PROPERTY AND CASUALTY ACTUARIAL OPINIONS › Section 515H.2 - Actuarial opinion of reserves — supporting documentation.

515H.2 Actuarial opinion of reserves — supporting documentation.
1. Statement of actuarial opinion. Every property and casualty insurance company doing business in this state, unless otherwise exempted from this requirement by the commissioner, shall annually submit the opinion of an appointed actuary entitled “statement of actuarial opinion” with the company’s annual statement in accordance with the provisions of section 515.63 and with the requirements of the national association of insurance commissioners’ property and casualty annual statement instructions.
2. Actuarial opinion summary.
a. Every property and casualty insurance company domiciled in this state that is required to submit a statement of actuarial opinion shall annually submit an actuarial opinion summary, prepared and signed by the company’s appointed actuary. The actuarial opinion summary shall be filed in accordance with the requirements of the national association of insurance commissioners’ property and casualty company annual statement instructions and shall be considered a document in support of the statement of actuarial opinion required under subsection 1.
b. A property and casualty insurance company that is licensed but not domiciled in this state shall provide an actuarial opinion summary upon request of the commissioner.
3. Actuarial report and work papers.
a. An actuarial report and supporting work papers shall be prepared to support each statement of actuarial opinion in accordance with the requirements of the national association of insurance commissioners’ property and casualty company annual statement instructions.
b. If an insurance company fails to provide a supporting actuarial report and work papers as requested by the commissioner or the commissioner determines that the actuarial report or work papers provided are unacceptable, the commissioner may engage a qualified actuary at the company’s expense to review the statement of actuarial opinion and the basis for the opinion and to prepare a supporting actuarial report or work papers.
4. An appointed actuary shall not be liable for damages to any person, except the company and the insurance commissioner, for any act, error, omission, decision, or misconduct of the appointed actuary in conducting the actuary’s duties pursuant to this section except in cases of fraud or willful misconduct on the part of the appointed actuary.
2007 Acts, ch 137, §14
Referred to in §515H.3
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515H - PROPERTY AND CASUALTY ACTUARIAL OPINIONS › Section 515H.3 - Confidentiality.

515H.3 Confidentiality.
1. A statement of actuarial opinion filed pursuant to section 515H.2, subsection 1, is a public record subject to examination and copying.
2. Documents in the possession or control of the insurance division that are provided to the division in support of a statement of actuarial opinion, that are considered an actuarial report, work papers, an actuarial opinion summary, or any other material provided by the company in connection with the actuarial report, work papers, or actuarial opinion summary are confidential records under section 507.14 and shall not be subject to subpoena or discovery or be admissible in evidence in any private civil action.
3. Disclosure of any documents, materials, or information to the division in compliance with the requirements of this chapter shall not be considered a waiver of any applicable privilege or claim of confidentiality.
2007 Acts, ch 137, §15
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515I - SURPLUS LINES INSURANCE › Section 515I.1 - Purpose.

515I.1 Purpose.
1. The purposes of this chapter are to do all of the following:
a. Establish a system of regulation which will permit orderly access to surplus lines insurance in this state.
b. Encourage admitted insurers to make new and innovative types of insurance available to consumers in this state.
c. Protect persons seeking insurance in this state.
d. Permit surplus lines insurance to be placed with reputable and financially sound nonadmitted insurers.
e. Provide a system through which persons may independently procure surplus lines insurance.
f. Protect revenues of this state.
g. Foster a national system of regulation of surplus lines insurance by collaborating with other state insurance commissioners.
h. Provide a system which subjects surplus lines insurance activities in this state to the jurisdiction of the insurance commissioner and state and federal courts in suits by or on behalf of the state.
i. Ensure compliance with the federal Nonadmitted and Reinsurance Reform Act of 2010, Tit. V, subtit. B, of the federal Dodd-Frank Wall Street Reform and Consumer Protection Act.
2. This chapter shall be liberally construed to promote these purposes.
2012 Acts, ch 1025, §1, 22; 2012 Acts, ch 1138, §73, 86, 87
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515I - SURPLUS LINES INSURANCE › Section 515I.3 - Placement of surplus lines insurance business with nonadmitted insurers and domestic surplus lines insurers.

515I.3 Placement of surplus lines insurance business with nonadmitted insurers and domestic surplus lines insurers.
1. Surplus lines insurance may be placed by a surplus lines insurance producer with a nonadmitted insurer or domestic surplus lines insurer only if all of the following requirements are met:
a. The proposed nonadmitted insurer or domestic surplus lines insurer is an eligible surplus lines insurer.
b. The proposed nonadmitted insurer or domestic surplus lines insurer is authorized to write the type of insurance sought in this state in its domiciliary jurisdiction.
c. Unless otherwise exempt from this requirement, after a diligent search the full amount or type of insurance cannot be obtained from an admitted insurer.
d. All other requirements of this chapter are met.
2. a. In addition to the full amount of gross premiums charged by the nonadmitted insurer or domestic surplus lines insurer for the insurance on which a premium tax is imposed for surplus lines insurance for which the insured’s home state is Iowa, a surplus lines insurance producer shall collect and pay to the state of Iowa the appropriate amount of premium tax as provided in section 432.1 for surplus lines insurance. The commissioner shall adopt rules to specify the use of credits or deductions that may be applied to the premium tax.
b. The tax on any portion of the premium unearned at the termination of the surplus lines insurance that has been credited by the state shall be returned to the policyholder directly by the surplus lines insurance producer. The surplus lines insurance producer is prohibited from rebating, for any reason, any part of the tax.
3. This section shall not apply to a person properly licensed as an insurance producer, who, for a fee and pursuant to a written agreement, is engaged solely to offer advice, counsel, opinion, or service to an insured with respect to the benefits, advantages, or disadvantages promised under any proposed or in-force policy of insurance if the person does not, directly or indirectly, participate in the sale, solicitation, or negotiation of insurance on behalf of the insured.
4. Insurance placed under this section shall be valid and enforceable as to all parties.
2012 Acts, ch 1025, §3, 22; 2019 Acts, ch 19, §3
Referred to in §515J.10
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515I - SURPLUS LINES INSURANCE › Section 515I.4 - Requirements for eligible surplus lines insurers.

515I.4 Requirements for eligible surplus lines insurers.
1. When this state is the home state of the insured, a nonadmitted insurer shall not place any surplus lines insurance business in this state unless the insurer has been approved for such activity by the commissioner. A nonadmitted insurer seeking to qualify as an eligible surplus lines insurer shall submit a request to so qualify in a form and format as directed by the commissioner which demonstrates all of the following:
a. Capital and surplus or its equivalent under the laws of the insurer’s domiciliary jurisdiction which equals the greatest of the following:
(1) The minimum capital and surplus requirements under the laws of this state.
(2) Fifteen million dollars.
(3) The risk-based capital level requirements pursuant to chapter 521E.
b. Evidence that the nonadmitted insurer is in good standing with its domiciliary regulator.
2. The commissioner may waive the requirements of this section or set specific requirements on a case-by-case basis upon an affirmative finding of acceptability by the commissioner that the placement of insurance with the nonadmitted insurer is necessary and will not be detrimental to the public and to policyholders. In determining whether business may be placed with a nonadmitted insurer, the commissioner shall consider all of the following:
a. The interests of the public and policyholders.
b. The length of time the insurer has been licensed to do insurance business in its domiciliary jurisdiction and elsewhere.
c. The unavailability of particular coverages from other admitted insurers or eligible surplus lines insurers in this state.
d. The size of the nonadmitted insurer as measured by the insurer’s assets, capital and surplus, reserves, premium writings, insurance in force, or other appropriate criteria.
e. The kinds of business the nonadmitted insurer writes, the insurer’s net exposure, and the extent to which the insurer’s business is diversified among several lines of insurance and geographic locations.
f. The past and projected trend in the size of the nonadmitted insurer’s capital and surplus considering such factors as premium growth, operating history, loss and expense ratios, or other appropriate criteria.
3. Eligible surplus lines insurers shall not be required to file or seek approval of their forms and rates.
2012 Acts, ch 1025, §4, 22; 2021 Acts, ch 181, §32
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515I - SURPLUS LINES INSURANCE › Section 515I.4A - Requirements for domestic surplus lines insurers.

515I.4A Requirements for domestic surplus lines insurers.
1. An insurer that is domiciled in this state may apply to the commissioner for licensure as a domestic surplus lines insurer if all of the following requirements are met:
a. The insurer possesses policyholder surplus of the greater of either fifteen million dollars or three hundred percent of authorized-control-level risk-based capital pursuant to chapter 521E.
b. The insurer is an eligible surplus lines insurer in at least one jurisdiction other than this state.
c. The board of directors of the insurer has passed a resolution seeking approval as a domestic surplus lines insurer in this state and stating that the insurer shall only write surplus lines business. The resolution shall not be amended without approval of the commissioner.
d. The commissioner has approved the insurer as a domestic surplus lines insurer in this state.
2. For the purposes of the federal Nonadmitted and Reinsurance Reform Act of 2010, 15 U.S.C. §8201 et seq., a domestic surplus lines insurer shall be considered a nonadmitted insurer as the term is referenced in the Act, with respect to risks insured in this state.
3. A domestic surplus lines insurer shall be deemed an eligible surplus lines insurer and is subject to all requirements of this chapter that are applicable to an eligible surplus lines insurer. A domestic surplus lines insurer is authorized to write any kind of insurance that a nonadmitted insurer not domiciled in this state is eligible to write.
4. Notwithstanding any other provision of law to the contrary, a policy or contract issued in this state by a domestic surplus lines insurer shall be subject to taxes assessed on a surplus lines policy or contract issued by a nonadmitted insurer, including the premium tax on surplus lines insurance, but shall not be subject to other taxes levied on an admitted insurer, whether domestic or foreign.
5. A policy or contract issued by a domestic surplus lines insurer is not a policy or contract for which coverage is provided under the Iowa insurance guaranty association pursuant to chapter 515B or the Iowa life and health insurance guaranty association pursuant to chapter 508C.
6. All financial and solvency requirements imposed in this state upon a domestic admitted insurer are applicable to a domestic surplus lines insurer unless a domestic surplus lines insurer is specifically exempted from such requirements.
7. A policy or contract issued by a domestic surplus lines insurer in this state is exempt from all requirements imposed in this state relating to insurance rating plans, policy or contract forms, policy or contract cancellation and nonrenewal, or premiums charged to the insured, in the same manner and to the same extent as a policy or contract issued by a nonadmitted insurer domiciled in another state.
2019 Acts, ch 19, §4; 2019 Acts, ch 89, §17; 2020 Acts, ch 1062, §58
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515I - SURPLUS LINES INSURANCE › Section 515I.6 - Actions against eligible surplus lines insurers.

515I.6 Actions against eligible surplus lines insurers.
An eligible surplus lines insurer may be sued upon a cause of action arising in this state under a surplus lines insurance policy or contract placed by the insurer or upon evidence of insurance placed by the insurer and issued or delivered in this state by a surplus lines insurance producer. A policy or contract issued by an eligible surplus lines insurer shall contain a provision stating the substance of this section and designating the person upon whom service of process can be made on behalf of the insurer.
2012 Acts, ch 1025, §6, 22
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515I - SURPLUS LINES INSURANCE › Section 515I.7 - Effect of payment to surplus lines insurance producer.

515I.7 Effect of payment to surplus lines insurance producer.
A payment of premium to a surplus lines insurance producer acting for a person other than the producer in procuring, continuing, or renewing any policy or contract of surplus lines insurance procured under this chapter shall be deemed to be payment to the eligible surplus lines insurer, notwithstanding any other conditions or stipulations that are inserted in the policy or contract of insurance.
2012 Acts, ch 1025, §7, 22
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515I - SURPLUS LINES INSURANCE › Section 515I.8 - Referrals to surplus lines insurance producers.

515I.8 Referrals to surplus lines insurance producers.
A surplus lines insurance producer may accept referrals to place surplus lines insurance from any other licensed insurance producer and the surplus lines insurance producer may compensate the referring insurance producer for the referral.
2012 Acts, ch 1025, §8, 22
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515I - SURPLUS LINES INSURANCE › Section 515I.9 - Exempt commercial purchasers.

515I.9 Exempt commercial purchasers.
A surplus lines insurance producer seeking to procure or place surplus lines insurance in this state for an exempt commercial purchaser is not required to make a diligent search to determine whether the full amount or type of insurance sought by such exempt commercial purchaser can be obtained from an admitted insurer if both of the following requirements are met:
1. The surplus lines insurance producer has disclosed to the exempt commercial purchaser that such insurance may be available from an admitted insurer that may provide the purchaser with greater protection and with more regulatory oversight.
2. The exempt commercial purchaser has subsequently requested in writing that the surplus lines insurance producer place such insurance with an eligible surplus lines insurer.
2012 Acts, ch 1025, §9, 22
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515I - SURPLUS LINES INSURANCE › Section 515I.10 - Independently procured surplus lines insurance — premium tax — penalty.

515I.10 Independently procured surplus lines insurance — premium tax — penalty.
1. When this state is the home state of the insured, a person who directly procures, continues, or renews a surplus lines insurance policy or contract independently and without using a surplus lines insurance producer on properties, risks, or exposures located or to be performed in whole or in part in this state shall file a written report regarding the transaction with the commissioner, in a manner and method as directed by the commissioner by rule.
2. When this state is the home state of the insured, each person who has independently procured a surplus lines insurance policy or contract shall pay a premium tax at a rate appropriate to the amount of premium tax equal to the applicable percent, as provided in section 432.1. The tax shall be remitted via a method and schedule and in a manner as directed by the commissioner by rule.
3. The commissioner may assess a penalty of one percent of the delinquent amount of taxes owed per month as specified in section 507A.9.
2012 Acts, ch 1025, §10, 22
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515I - SURPLUS LINES INSURANCE › Section 515I.11 - Violations and penalties.

515I.11 Violations and penalties.
1. The commissioner may, after notice and a hearing, declare a surplus lines insurer ineligible to place surplus lines insurance in the state if at any time the commissioner has reason to believe that a surplus lines insurer meets any of the following conditions:
a. Is in unsound financial condition or has acted in an untrustworthy manner.
b. No longer meets the standards set forth in this chapter.
c. Has willfully violated the laws of this state.
d. Does not conduct its claims settlement practices in a fair and reasonable manner.
e. Has committed an unfair or deceptive insurance trade practice under chapter 507B.
2. The commissioner may suspend, revoke, or refuse to renew the license of a surplus lines insurance producer or impose any sanction or penalty allowed under chapter 507B after notice and hearing for one or more of the following grounds:
a. Removal of the resident surplus lines insurance producer’s principal place of business from this state without notice to the commissioner.
b. Removal of the resident surplus lines insurance producer’s office accounts and records from this state during the period for which the accounts and records are required to be maintained.
c. Closure of the surplus lines insurance producer’s office for a period of more than thirty business days, unless permission is granted by the commissioner.
d. Failure to file required reports with the commissioner or the commissioner’s designee.
e. Failure to remit surplus lines insurance premium taxes to this state as directed by the commissioner.
f. Violating any provision of this chapter.
g. For any cause for which an insurance producer license could be denied, revoked, or suspended, or renewal refused or a civil penalty imposed under chapter 522B.
3. The commissioner may initiate an administrative proceeding against a surplus lines insurance producer for the collection of unpaid premium taxes. The commissioner may assess a penalty of one percent of the delinquent amount of taxes owed per month as specified in section 507A.9 and any other penalties allowed by law.
4. A person that represents or aids a nonadmitted insurer in violation of this chapter shall be subject to criminal penalties as set forth in section 507A.10.
2012 Acts, ch 1025, §11, 22
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515I - SURPLUS LINES INSURANCE › Section 515I.13 - Insurance policy or contract remains valid.

515I.13 Insurance policy or contract remains valid.
A policy or contract of insurance issued or delivered by an eligible surplus lines insurer or a nonadmitted insurer which is otherwise valid and contains a condition or provision not in compliance with the requirements of this chapter is not thereby rendered invalid but shall be construed and applied in accordance with the conditions and provisions which would have applied had the policy or contract been issued or delivered in full compliance with this chapter.
2012 Acts, ch 1025, §13, 22
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515I - SURPLUS LINES INSURANCE › Section 515I.14 - Severability.

515I.14 Severability.
If any provision of this chapter, or the application of the provision of this chapter to any person or circumstance, is held invalid, the remainder of the chapter and the application of the provision to persons or circumstances other than those as to which it is held invalid, shall not be affected by that holding.
2012 Acts, ch 1025, §15, 22
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515J - PRIVATE PRIMARY RESIDENTIAL FLOOD INSURANCE › Section 515J.2 - Purpose.

515J.2 Purpose.
The purpose of this chapter is to provide for the protection of lives and property from the peril of flood, and to encourage a robust private primary residential flood insurance market to provide consumer choices and alternatives to the existing national flood insurance program.
2021 Acts, ch 73, §2
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515J - PRIVATE PRIMARY RESIDENTIAL FLOOD INSURANCE › Section 515J.3 - Intent.

515J.3 Intent.
It is the intent of the legislature that this chapter shall not restrict the use of existing filings by an insurer, or limit the ability of authorized insurers to provide flood insurance coverage in this state of any type other than primary residential flood insurance.
2021 Acts, ch 73, §3
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515J - PRIVATE PRIMARY RESIDENTIAL FLOOD INSURANCE › Section 515J.4 - Definitions.

515J.4 Definitions.
For purposes of this chapter, unless the context otherwise requires:
1. “Authorized insurer” means an insurer authorized by the commissioner to write insurance under a certificate of authority issued by the commissioner to transact insurance in this state.
2. “Commissioner” means the commissioner of insurance.
3. “FAIR plan” means the plan to assure fair access to insurance requirements established pursuant to section 515F.33.
4. “National flood insurance program” means the program of flood insurance coverage and floodplain management administered under the National Flood Insurance Act of 1968, as amended, Pub. L. No. 90-48, 42 U.S.C. §4001 et seq., and applicable regulations promulgated in
44 C.F.R.
5. “Primary residential flood insurance” means an insurance policy covering losses from flood to residential property, other than commercial property, written in this state by any authorized insurer and that is not written to apply coverage in excess of the coverage provided under another flood insurance policy, including a policy issued by a private insurer or by the national flood insurance program.
2021 Acts, ch 73, §4
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515J - PRIVATE PRIMARY RESIDENTIAL FLOOD INSURANCE › Section 515J.5 - Rates.

515J.5 Rates.
1. Rates established pursuant to this section for flood insurance issued pursuant to this chapter shall not be subject to prior approval by the commissioner. An insurer shall attest that all rates are based on actuarial data, methodologies, standards, and guidelines relating to floods that are not excessive, inadequate, or unfairly discriminatory. The commissioner may audit an insurer’s flood rates to ensure compliance with applicable state laws and administrative rules.
2. An insurer shall file with the commissioner all rates and any changes to such rates which the insurer proposes to use. A filing must state the proposed effective date, indicate the character and extent of the coverage contemplated, include the name of the insurer, and include the average statewide percentage change in rates. Actuarial data with regard to rates for flood coverage must be maintained by the insurer for two years after the effective date of a rate change.
2021 Acts, ch 73, §5
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515J - PRIVATE PRIMARY RESIDENTIAL FLOOD INSURANCE › Section 515J.6 - Forms.

515J.6 Forms.
The commissioner may require, through the application of the state’s existing regulatory system, all of the following:
1. That an authorized insurer file all forms for primary residential flood insurance coverage.
2. That an authorized insurer may issue an insurance policy, contract, or endorsement.
3. That flood insurance on a residential property that is located in a special flood hazard area designated by the federal emergency management agency provides coverage that at a minimum complies with 42 U.S.C. §4012a(b) and applicable regulations in 84 Fed. Reg. 4953.
2021 Acts, ch 73, §6
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515J - PRIVATE PRIMARY RESIDENTIAL FLOOD INSURANCE › Section 515J.7 - Notice to commissioner.

515J.7 Notice to commissioner.
At least thirty calendar days prior to writing primary residential flood insurance in this state, an authorized insurer shall comply with the following requirements:
1. Notify the commissioner of the insurer’s intent to sell primary residential flood insurance.
2. File a plan of operation and financial projections, or material revisions to a plan of operation and financial projections, with the commissioner.
2021 Acts, ch 73, §7
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515J - PRIVATE PRIMARY RESIDENTIAL FLOOD INSURANCE › Section 515J.8 - Notice to consumers — special flood hazard areas.

515J.8 Notice to consumers — special flood hazard areas.
1. Before placing an applicant whose property is located in a special flood hazard area with private flood insurance, an insurance producer, surplus lines broker, or an authorized insurer upon the authorized insurer’s election or if there is not an insurance producer or surplus lines broker, shall provide notice to the applicant of the following:
a. Of the existence of the national flood insurance program if the applicant does not currently have flood coverage under the national flood insurance program.
b. That flood coverage under the national flood insurance program may be provided at a subsidized rate, and that the full-risk rate for flood insurance may apply to the applicant’s property if the applicant later seeks to reinstate coverage under the program.
2. This section is repealed effective thirty calendar days after enactment of federal legislation mandating that an insured may switch between private flood insurance and flood insurance under the national flood insurance program without risk of penalty. The commissioner shall notify the Iowa Code editor upon the occurrence of this condition.
2021 Acts, ch 73, §8
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515J - PRIVATE PRIMARY RESIDENTIAL FLOOD INSURANCE › Section 515J.9 - Cancellation and nonrenewal — notice.

515J.9 Cancellation and nonrenewal — notice.
1. Notice of cancellation or nonrenewal of private residential flood insurance, other than for nonpayment of premium, shall be made and provided to the policyholder a minimum of forty-five days before the cancellation or nonrenewal of the flood insurance, and in compliance with the applicable provisions of sections 515.129A, 515.129B, and 515.129C.
2. Notwithstanding subsection 1, notice of cancellation of private residential flood insurance for nonpayment of the premium, or fraud or misrepresentation on the application for the flood insurance, shall be made and provided to the policyholder in compliance with the applicable provisions of sections 515.129A, 515.129B, and 515.129C.
2021 Acts, ch 73, §9
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515J - PRIVATE PRIMARY RESIDENTIAL FLOOD INSURANCE › Section 515J.10 - Surplus lines placements.

515J.10 Surplus lines placements.
Diligent search requirements pursuant to section 515I.3, subsection 1, paragraph “c”, shall not apply to flood coverage under an insurance policy issued by an eligible surplus lines insurer until such time that the commissioner certifies in a commissioner’s bulletin or by order that the admitted private flood insurance market is adequate.
2021 Acts, ch 73, §10
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515J - PRIVATE PRIMARY RESIDENTIAL FLOOD INSURANCE › Section 515J.12 - Certification — private flood insurance.

515J.12 Certification — private flood insurance.
An insurer that writes flood insurance under this chapter may certify that the insurance policy meets the definition of “private flood insurance” as specified in 42 U.S.C. §4012a(b)(7) and corresponding federal regulations.
2021 Acts, ch 73, §12
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515J - PRIVATE PRIMARY RESIDENTIAL FLOOD INSURANCE › Section 515J.13 - Public records.

515J.13 Public records.
Upon disposition, all rates, supplementary rate information, and supporting information filed with the commissioner pursuant to this chapter shall be a public record under chapter 22, except any information marked by the insurer or the filer as confidential, trade secret, or proprietary pursuant to section 22.7, and that is accepted by the commissioner.
2021 Acts, ch 73, §13
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515K - TRAVEL INSURANCE › Section 515K.4 - Travel protection plans.

515K.4 Travel protection plans.
A travel protection plan may be offered in this state at one price for all features included in the travel protection plan if all of the following are true:
1. The travel protection plan clearly discloses to the purchaser, at or prior to the time of purchase, that the travel protection plan includes, as applicable, travel insurance, travel assistance services, and cancellation fee waivers.
2. A purchaser is provided with an opportunity at or prior to the time of purchase to obtain additional details regarding each feature and the cost of each feature.
3. The fulfillment materials provided to the purchaser do all of the following:
a. Describe and delineate the travel insurance, travel assistance services, and cancellation fee waivers included in the travel protection plan.
b. Include, as applicable, travel insurance disclosures and the contact information for all persons providing travel assistance services and cancellation fee waivers.
2022 Acts, ch 1035, §4
NEW section
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515K - TRAVEL INSURANCE › Section 515K.6 - Travel administrators.

515K.6 Travel administrators.
1. Notwithstanding any provision of Title XIII, subtitle 1, to the contrary, a person shall not act as, or represent itself as, a travel administrator for travel insurance in this state unless the person meets at least one of the following requirements:
a. The person is a licensed property and casualty insurance producer in this state.
b. The person is in compliance with all laws and regulations that are applicable to managing general agents in this state.
c. The person is in compliance with all laws and regulations that are applicable to third-party administrators in this state.
2. An insurer shall be responsible for the acts of a travel administrator administering travel insurance underwritten by the insurer, and for ensuring that the travel administrator maintains all records related to the insurer and makes the records available to the commissioner upon request of the commissioner.
2022 Acts, ch 1035, §6
NEW section
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515K - TRAVEL INSURANCE › Section 515K.7 - Rates, forms, eligibility, and underwriting.

515K.7 Rates, forms, eligibility, and underwriting.
1. Notwithstanding any provision of Title XIII, subtitle 1, to the contrary, travel insurance shall be classified and filed for purposes of rates and forms under an inland marine line of insurance provided that travel insurance that provides coverage for sickness, accident, disability, or death occurring during travel, either exclusively, or in conjunction with related coverages of emergency evacuation or repatriation of remains, or incidental limited property and casualty benefits such as baggage or trip cancellation, may be filed under either an accident and health line of insurance or an inland marine line of insurance.
2. Travel insurance may be issued in the form of an individual insurance policy, a group travel insurance policy, or a blanket travel insurance policy.
3. Eligibility and underwriting standards for travel insurance may be developed and provided based on travel protection plans designed for individual or identified marketing or distribution channels, provided that the standards also meet the state’s underwriting standards for the line of insurance.
2022 Acts, ch 1035, §7
NEW section
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515K - TRAVEL INSURANCE › Section 515K.8 - Tax on gross premiums.

515K.8 Tax on gross premiums.
1. An insurer that offers travel insurance shall pay tax on gross premiums, as provided in section 432.1, on travel insurance premiums paid by any of the following:
a. A primary policyholder who is a resident of this state.
b. A primary certificate holder who is a resident of this state.
c. A blanket travel insurance policyholder that is a resident of this state, or that has the policyholder’s principal place of business or the principal place of business of an affiliate or subsidiary that has purchased blanket travel insurance in this state for eligible blanket group members, subject to any apportionment rules that apply to the insurer across multiple taxing jurisdictions, or that permit the insurer to allocate premiums on an apportioned basis in a reasonable and equitable manner in those taxing jurisdictions.
2. An insurer that offers travel insurance shall do all of the following:
a. Document the state of residence or the state of the principal place of business of the primary policyholder or primary certificate holder.
b. Report as premiums only the amount allocable to travel insurance, and not report any amounts received from travel assistance services or cancellation fee waivers.
2022 Acts, ch 1035, §8
Referred to in §515K.2
NEW section
2023 Iowa Code › Title XIII - COMMERCE › Chapter 515K - TRAVEL INSURANCE › Section 515K.9 - Applicability.

515K.9 Applicability.
1. This chapter shall apply to travel insurance that covers any resident of this state, and travel insurance that is sold, solicited, negotiated, or offered in this state, and to any travel insurance policy or certificate that is delivered or issued for delivery in this state. This chapter shall not apply to cancellation fee waivers or to travel assistance services except as expressly provided in this chapter.
2. All applicable provisions of Title XIII, subtitle 1, shall apply to travel insurance except that specific provisions of this chapter shall supersede any general provisions of Title XIII, subtitle 1, that are otherwise applicable to travel insurance.
2022 Acts, ch 1035, §9
NEW section
2023 Iowa Code › Title XIII - COMMERCE › Chapter 516 - LIABILITY POLICIES — UNSATISFIED JUDGMENTS › Section 516.1 - Inurement of policy.

516.1 Inurement of policy.
All policies insuring the legal liability of the insured, issued in this state by any company, association or reciprocal exchange shall, notwithstanding any other provision of the statutes, contain a provision providing that, in event an execution on a judgment against the insured be returned unsatisfied in an action by a person who is injured or whose property is damaged, the judgment creditor shall have a right of action against the insurer to the same extent that such insured could have enforced the insured’s claim against such insurer had such insured paid such judgment.
[C35, §9024-g1; C39, §9024.1; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §516.1]
2023 Iowa Code › Title XIII - COMMERCE › Chapter 516 - LIABILITY POLICIES — UNSATISFIED JUDGMENTS › Section 516.2 - Settlement.

516.2 Settlement.
No settlement between said insurer and insured, after loss, shall bar said action unless consented to by said judgment plaintiff.
[C35, §9024-g2; C39, §9024.2; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §516.2]
2023 Iowa Code › Title XIII - COMMERCE › Chapter 516 - LIABILITY POLICIES — UNSATISFIED JUDGMENTS › Section 516.3 - Limitation on action.

516.3 Limitation on action.
Said action may be brought against said insurer within one hundred eighty days from the entry of judgment in case no appeal is taken, and, in case of appeal, within one hundred eighty days after the judgment is affirmed on appeal, anything in the policy or statutes to the contrary notwithstanding.
[C35, §9024-g3; C39, §9024.3; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §516.3]
2023 Iowa Code › Title XIII - COMMERCE › Chapter 516A - UNINSURED, UNDERINSURED, OR HIT-AND-RUN MOTORISTS › Section 516A.1 - Coverage included in every liability policy — rejection by insured.

516A.1 Coverage included in every liability policy — rejection by insured.
1. No automobile liability or motor vehicle liability insurance policy insuring against liability for bodily injury or death arising out of the ownership, maintenance, or use of a motor vehicle shall be delivered or issued for delivery in this state with respect to any motor vehicle registered or principally garaged in this state, unless coverage is provided in such policy or supplemental thereto, for the protection of persons insured under such policy who are legally entitled to recover damages from the owner or operator of an uninsured motor vehicle or a hit-and-run motor vehicle or an underinsured motor vehicle because of bodily injury, sickness, or disease, including death resulting therefrom, caused by accident and arising out of the ownership, maintenance, or use of such uninsured or underinsured motor vehicle, or arising out of physical contact of such hit-and-run motor vehicle with the person insured or with a motor vehicle which the person insured is occupying at the time of the accident. Both the uninsured motor vehicle or hit-and-run motor vehicle coverage, and the underinsured motor vehicle coverage shall include limits for bodily injury or death at least equal to those stated in section 321A.1, subsection 11. The form and provisions of such coverage shall be examined and approved by the commissioner of insurance.
2. However, the named insured may reject all of such coverage, or reject the uninsured motor vehicle (hit-and-run motor vehicle) coverage, or reject the underinsured motor vehicle coverage, by written rejections signed by the named insured. If rejection is made on a form or document furnished by an insurance company or insurance producer, it shall be on a separate sheet of paper which contains only the rejection and information directly related to it. Such coverage need not be provided in or supplemental to a renewal policy if the named insured has rejected the coverage in connection with a policy previously issued to the named insured by the same insurer.
[C71, 73, 75, 77, 79, 81, §516A.1]
83 Acts, ch 101, §108; 90 Acts, ch 1233, §33; 2001 Acts, ch 16, §10, 37; 2021 Acts, ch 76, §150
Referred to in §516A.2, 516A.5
2023 Iowa Code › Title XIII - COMMERCE › Chapter 516A - UNINSURED, UNDERINSURED, OR HIT-AND-RUN MOTORISTS › Section 516A.2 - Construction — minimum coverage — stacking.

516A.2 Construction — minimum coverage — stacking.
1. a. Except with respect to a policy containing both underinsured motor vehicle coverage and uninsured or hit-and-run motor vehicle coverage, nothing contained in this chapter shall be construed as requiring forms of coverage provided pursuant hereto, whether alone or in combination with similar coverage afforded under other automobile liability or motor vehicle liability policies, to afford limits in excess of those that would be afforded had the insured thereunder been involved in an accident with a motorist who was insured under a policy of liability insurance with the minimum limits for bodily injury or death prescribed in section 321A.1, subsection 11. Such forms of coverage may include terms, exclusions, limitations, conditions, and offsets which are designed to avoid duplication of insurance or other benefits.
b. To the extent that Hernandez v. Farmers Insurance Company, 460 N.W.2d 842 (Iowa 1990), provided for interpolicy stacking of uninsured or underinsured coverages in contravention of specific contract or policy language, the general assembly declares such decision abrogated and declares that the enforcement of the antistacking provisions contained in a motor vehicle insurance policy does not frustrate the protection given to an insured under section 516A.1.
2. Pursuant to chapter 17A, the commissioner of insurance shall, by January 1, 1992, adopt rules to assure the availability, within the state, of motor vehicle insurance policies, riders, endorsements, or other similar forms of coverage, the terms of which shall provide for the stacking of uninsured and underinsured coverages with any similar coverage which may be available to an insured.
3. It is the intent of the general assembly that when more than one motor vehicle insurance policy is purchased by or on behalf of an injured insured and which provides uninsured, underinsured, or hit-and-run motor vehicle coverage to an insured injured in an accident, the injured insured is entitled to recover up to an amount equal to the highest single limit for uninsured, underinsured, or hit-and-run motor vehicle coverage under any one of the above described motor vehicle insurance policies insuring the injured person which amount shall be paid by the insurers according to any priority of coverage provisions contained in the policies insuring the injured person.
[C71, 73, 75, 77, 79, 81, §516A.2]
91 Acts, ch 213, §30; 2012 Acts, ch 1023, §157
2023 Iowa Code › Title XIII - COMMERCE › Chapter 516A - UNINSURED, UNDERINSURED, OR HIT-AND-RUN MOTORISTS › Section 516A.3 - Effect of insolvency.

516A.3 Effect of insolvency.
1. For the purpose of this chapter, the term “uninsured motor vehicle” shall, subject to the terms and conditions of the coverage required in this chapter, be deemed to include an insured motor vehicle with respect to which insolvency proceedings have been instituted against the liability insurer thereof by the insurance regulatory official of this or any other state or territory of the United States or of the District of Columbia.
2. An insurer’s insolvency protection is applicable only to accidents occurring during a policy period in which its insured’s uninsured motorist coverage is in effect and only if the liability insurer of the tortfeasor is insolvent at the time of such an accident or becomes insolvent after the accident.
[C71, 73, 75, 77, 79, 81, §516A.3]
91 Acts, ch 26, §46; 92 Acts, ch 1162, §46; 2021 Acts, ch 76, §150; 2022 Acts, ch 1021, §153
Subsection 1 amended
2023 Iowa Code › Title XIII - COMMERCE › Chapter 516A - UNINSURED, UNDERINSURED, OR HIT-AND-RUN MOTORISTS › Section 516A.4 - Insurer making payment — reimbursement.

516A.4 Insurer making payment — reimbursement.
In the event of payment to any person under the coverage required by this chapter and subject to the terms and conditions of such coverage, the insurer making such payment shall, to the extent thereof, be entitled to the proceeds of any settlement or judgment resulting from the exercise of any rights of recovery of such person against any person or organization legally responsible for the bodily injury for which such payment is made, including the proceeds recoverable from the assets of the insolvent insurer. The person to whom said payment is made under the insolvency protection required by this chapter shall to the extent thereof, be deemed to have waived any right to proceed to enforce such a judgment against the assets of the judgment debtor who was insured by the insolvent insurer whose insolvency resulted in said payment being made, other than assets recovered or recoverable by such judgment debtor from such insolvent insurer.
[C71, 73, 75, 77, 79, 81, §516A.4]
2023 Iowa Code › Title XIII - COMMERCE › Chapter 516A - UNINSURED, UNDERINSURED, OR HIT-AND-RUN MOTORISTS › Section 516A.5 - Tolling of statute.

516A.5 Tolling of statute.
Commencement of an action by an insured under a provision included in an automobile liability or motor vehicle liability insurance policy pursuant to section 516A.1 tolls the statute of limitations for purposes of the insurer’s subrogated cause of action against a party, as defined in section 668.2. Section 668.8 is also applicable to an action commenced as described in this section.
98 Acts, ch 1057, §12
2023 Iowa Code › Title XIII - COMMERCE › Chapter 516B - AUTOMOBILE LIABILITY POLICIES › Section 516B.1 - Definitions.

516B.1 Definitions.
As used in this chapter, unless otherwise required by the context:
1. “Automobile liability policy” means an insurance policy issued by an insurance carrier authorized to do business in this state to or for the benefit of the person named in the policy as insured against loss from liability imposed by law for damages arising out of ownership, maintenance, or use of an insured automobile.
2. “Commissioner” means the commissioner of insurance.
86 Acts, ch 1218, §1
2023 Iowa Code › Title XIII - COMMERCE › Chapter 516B - AUTOMOBILE LIABILITY POLICIES › Section 516B.2 - Reduction in premiums to reflect reductions in losses.

516B.2 Reduction in premiums to reflect reductions in losses.
1. The commissioner shall require that insurance companies transacting business in this state reduce the automobile liability insurance premiums charged insureds in this state for liability insurance renewed or issued on or after July 1, 1987. The reduction in insurance premiums, on a statewide basis, shall be at whatever amount the commissioner of insurance deems appropriate as reflecting the reduction in annual losses incurred by the insurance companies with the enactment of
1986 Iowa Acts, ch. 1009
. The commissioner of insurance may annually make adjustments to the reduction in insurance premiums as the commissioner deems appropriate considering the latest statistics available to the commissioner.
2. In making the determination on the amount of reduction of automobile liability insurance premiums which takes effect July 1, 1987, the commissioner may employ or contract with actuarial consultants as necessary in making the determination. The reasonable fees and expenses of an actuarial consultant employed or contracted by the commissioner for the purpose of determining the amount of the July 1, 1987, reduction shall be assessed against and paid by the affected insurance companies.
86 Acts, ch 1218, §2; 2014 Acts, ch 1026, §143; 2021 Acts, ch 76, §150