Iowa Administrative Code

15.76(1) A producer shall not solicit the sale of an annuity product unless the producer has adequate knowledge of the product to recommend the annuity and the producer is in compliance with the insurer’s standards for product training. A producer may rely on insurer-provided pro…

of the insurer’s compliance with subparagraph 15.75(3)“c”(2). (2) An insurer’s supervision system under this subrule shall include supervision of contractual performance under this subrule including, but not limited to, the following: 1. Monitoring and, as appropriate, conducting…

15.78(1) Insurers, general agents, independent agencies, and producers shall maintain or be able to make available to the commissioner records of the information collected from the consumer, disclosures made to the consumer (including summaries of oral disclosures) and other info…

DIVISION VI INDEXED PRODUCTS TRAINING REQUIREMENT

15.8(1) Required disclosures. A producer shall inform the prospective purchaser, prior to commencing an insurance sales presentation, that the producer is acting as an insurance producer and inform the prospective purchaser of the producer’s full name and the full name of the ins…

minimum training for insurance producers who wish to sell indexed annuities or indexed life insurance in Iowa. This additional training is necessary due to the complex nature of these indexed products and to ensure that insurance producers are able to determine whether an indexed…

“CE credit” means one continuing education “credit” as defined in 191—Chapter 11. “CE provider” means any individual or entity that is approved to offer continuing education courses in Iowa pursuant to 191—Chapter 11. “Indexed products” means all fixed indexed life insurance and …

Iowa shall complete at least one four-credit indexed products training course, as described in this division, prior to providing any advice or making any sales presentation concerning an indexed product. [ARC 7734C, IAB 3/20/24, effective 4/24/24]

15.83(1) The indexed products training shall include information on all topics listed in the most recent version of the indexed products training outline available at the division’s website, iid.iowa.gov. 15.83(2) CE providers of indexed products training shall cover all topics l…

15.84(1) Each insurer shall establish a system to verify which of its appointed insurance producers have completed one training course on indexed products as required in this division. 15.84(2) An insurer shall verify that a producer has completed the required indexed products tr…

verify a producer’s completion of the indexed products training by accessing the division’s website, iid.iowa.gov. [ARC 7734C, IAB 3/20/24, effective 4/24/24]

15.86(1) Insurers and third-party contractors that violate the rules of this division are subject to penalty under Iowa Code chapter 507B. 15.86(2) Producers who violate the rules of this division are subject to penalty under Iowa Code chapters 507B and 522B. 15.86(3) Continuing …

15.87(1) A producer who provides advice or makes a sales presentation regarding an indexed product on or after January 1, 2008, shall have completed the indexed products training required by this division. 15.87(2) An Iowa-licensed insurer shall verify that, prior to the sale of …

individual policy has the right, within ten days after receipt of a life insurance policy or annuity, to a free- look period. During this period, the policyowner may return the life insurance policy or annuity to the insurer at its home office, branch office, or to the producer t…

a. Any deceptive or misleading information set forth in sales material; b. Failing to ask the applicant in completing the application the pertinent questions regarding the possibility of financing or replacement; c. The intentional incorrect recording of an answer; d. Advising an…

DIVISION II (Effective July 1, 2000)

16.21(1) The purpose of these rules is: a. To regulate the activities of insurers and producers with respect to the replacement of existing life insurance and annuities. b. To protect the interests of life insurance and annuity purchasers by establishing minimum standards of cond…

“Commissioner” means the Iowa insurance commissioner. “Contract” means an individual annuity contract. “Direct-response solicitation” means a solicitation through a sponsoring or endorsing entity or individually solely through mails, telephone, the Internet or other mass communic…

16.23(1) Unless otherwise specifically included, these rules shall not apply to transactions involving: a. Credit life insurance. b. Group life insurance or group annuities where there is no direct solicitation of individuals by an insurance producer. Direct solicitation shall no…

16.24(1) A producer who initiates an application for a policy or a contract shall submit to the insurer, with or as part of the application, a statement signed by both the applicant and the producer as to whether the applicant has existing policies or contracts. If the applicant …

16.25(1) Each insurer that uses producers shall maintain a system of supervision and control to ensure compliance with the requirements of these rules that shall include at least the following: a. Informing its producers of the requirements of these rules and incorporating the re…

16.26(1) Where a replacement is involved in the transaction, the replacing insurer that uses producers shall: a. Verify that the required forms are received and are in compliance with these rules; b. Notify any other existing insurer that may be affected by the proposed replaceme…

existing insurer shall: 16.27(1) Retain and be able to produce all replacement notifications received, indexed by replacing insurer, for at least five years or until the conclusion of the next regular examination conducted by the insurance department of its state of domicile, whi…

16.28(1) In the case of an application that is initiated as a result of a direct-response solicitation, the insurer shall require, with or as part of each completed application for a policy or contract, a statement asking whether the applicant, by applying for the proposed policy…

16.29(1) Any failure to comply with these rules shall be considered a violation of rules

person or circumstances, is held invalid by a court, the remainder of this division, or the applicability of its provisions to other persons, shall not be affected. [ARC 7735C, IAB 3/20/24, effective 4/24/24] These rules are intended to implement Iowa Code chapter 507B. APPENDIX …

insurance pursuant to Iowa Code section 505.8 and chapter 508. The insurance division recognizes that licensed insurers routinely enter into reinsurance agreements that yield legitimate relief to the ceding insurer from strain to surplus. However, it is improper for a licensed in…

all other licensed life and accident and health insurers which are not subject to a substantially similar regulation in their domiciliary state. This chapter shall also similarly apply to licensed property and casualty insurers with respect to their accident and health business. …

17.3(1) No insurer subject to this chapter shall, for reinsurance ceded, reduce any liability or establish any asset in any financial statement filed with the division if, by the terms of the reinsurance agreement, in substance or effect, any of the following conditions exist: a.…

17.4(1) No reinsurance agreement or amendment to any agreement may be used to reduce any liability or to establish any asset in any financial statement filed with the division, unless the agreement, amendment, or a binding letter of intent has been duly executed by both parties n…

to zero any reserve credits or assets established with respect to reinsurance agreements entered into prior to the effective date of this chapter which, under the provisions of this chapter, would not be entitled to recognition of the reserve credits or assets; provided, however,…

effective July 1, 2026.

section 4, effective July 1, 2026.

and maintains open records, some of which may contain personally identifiable information, and some of which may be shared with other state or federal agencies or organizations or vendors. This rule describes the nature and extent of personally identifiable information that is co…

effective July 1, 2026. These rules are intended to implement Iowa Code section 22.11. [Filed ARC 4780C (Notice ARC 4660C, IAB 9/25/19), IAB 11/20/19, effective 12/25/19] [Filed ARC 4949C (Notice ARC 4840C, IAB 1/1/20), IAB 2/26/20, effective 4/1/20] [Filed ARC 5515C (Notice ARC …

by this reference. In addition to the definitions in rule 191—1.1(502,505), the following definitions apply: “Confidential record” means a record that is not available as a matter of right for inspection and copying by members of the public under applicable provisions of law. Con…

effective July 1, 2026.

section 4, effective July 1, 2026.

section 4, effective July 1, 2026.

section 4, effective July 1, 2026.

records. Rescinded by 2026 Iowa Acts, Senate File 2463, section 4, effective July 1, 2026.

File 2463, section 4, effective July 1, 2026.

Iowa Acts, Senate File 2463, section 4, effective July 1, 2026.

20.1(1) Insurers required to file rates or forms with the division shall submit required rate and form filings and any fees required for the filings electronically using the National Association of Insurance Commissioners’ System for Electronic Rate and Form Filing (SERFF). Insur…

20.11(1) The following lines of insurance shall be exempt from the form and rate filing requirements of Iowa Code section 515.102: a. Aircraft hull and aviation liability. b. Difference-in-conditions. c. Kidnap-ransom. d. Manuscript policies and endorsements issued to not more th…

DIVISION II IOWA FAIR PLAN ACT

20.2(1) Any insured or established organization with one or more insureds among its members that has an objection to a form filing may submit to the insurance commissioner a written request for a hearing on the filing. A request for a hearing must be filed within 20 days after th…