Iowa Administrative Code › Agency 191 - Insurance Division › Insurance Producers › Chapter 10 - Insurance Producer Licenses and Limited Licenses › Rule 191-10.2 - Definitions

Current through Register Vol. 47, No. 3, July 24, 2024
In addition to the definitions in
				  191-1.1 (502,505), the following
				  definitions apply:
"Appointment"
means a notification filed
				  with the division or its designated vendor that an insurer has established an
				  agency relationship with a producer. A company filing such a request must
				  verify that the producer is licensed for the appropriate line(s) of
				  authority.
"Birth month"
means the month in which a
				  producer was born.
"Business entity"
means a corporation,
				  association, partnership, limited liability company, limited liability
				  partnership or other legal entity.
"CSRU"
means child support recovery
				  unit.
"Home state"
means the District of Columbia
				  or any state or territory of the United States in which a producer maintains
				  the producer's principal place of residence or principal place of business and
				  is licensed to act as a producer.
"Individual"
means a private or natural
				  person, as distinguished from a partnership, corporation or association.
"Insurance"
means any of the lines of
				  insurance listed in rule
				  191-10.7 (522B).
"License"
means the division's authorization
				  for a person to act as a producer for the authorized lines of insurance.
"License number"
means the National
				  Insurance Producer Registry (NIPR) national producer number (NPN) issued to all
				  licensees whose license records exist in the state producer licensing database
				  (SPLD). For purposes of this definition, "state producer licensing database
				  (SPLD)" means the national database of producers maintained by the National
				  Association of Insurance Commissioners (NAIC), its affiliates or
				  subsidiaries.
"National Insurance Producer Registry"
or
"NIPR"
means the nonprofit affiliate of the National
				  Association of Insurance Commissioners (NAIC). The NIPR's website is
www.NIPR.com
.
"Negotiate"
means the act of conferring
				  directly with or offering advice directly to a purchaser or prospective
				  purchaser of a particular contract of insurance concerning any of the
				  substantive benefits, terms or conditions of the contract provided that the
				  person engaged in that act either sells insurance or obtains insurance for
				  purchasers.
"NIPR Gateway"
means the communication
				  network developed and operated by NIPR that links state insurance regulators
				  with the entities they regulate to facilitate the electronic exchange of
				  producer information regarding license applications, license renewals,
				  appointments and terminations.
"Nonresident"
means a person whose home
				  state is not Iowa.
"Notification"
means a written or electronic
				  communication from a producer to the division.
"Person"
means an individual or a business
				  entity.
"Producer"
or
"insurance
				  producer"
means a person required to be licensed in this state to
				  sell, solicit or negotiate insurance.
"Producer renewal notice"
means an
				  electronic communication issued by the division to inform a producer about
				  license renewal.
"Resident"
means a person whose home state
				  is Iowa.
"Sell"
means to exchange a contract of
				  insurance by any means, for money or its equivalent, on behalf of an
				  insurer.
"Solicit"
or
"solicitation"
means attempting to sell insurance or asking or urging a person to apply for a
				  particular kind of insurance from a particular company.
"Termination"
means that an insurer has
				  ended its agency relationship with a producer.
"Termination for cause"
means that an
				  insurer has ended its agency relationship with a producer for one of the
				  reasons set forth in Iowa Code section
				  522B.11.
"Uniform application"
means the National
				  Association of Insurance Commissioners' uniform application for resident and
				  nonresident insurance producer licensing, as it appears on the NAIC
				  website.