Iowa Administrative Code

“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,…

open records. It also seeks to facilitate sound division determinations with respect to the handling of confidential records and the implementation of the fair information practices Act. This division is committed to the policies set forth in Iowa Code chapter 22. The division’s …

information about that person, the division must notify the person by reasonable means of the use that will be made of the information, which persons outside the division might routinely be provided this information, which parts of the requested information are required and which…

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…

that are confidential. This rule is not exhaustive. The following records shall be kept confidential. 2.12(1) Records that are exempt from disclosure under Iowa Code section 22.7. 2.12(2) Records that constitute attorney work product or attorney-client communications, or that are…

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…

2.3(1) Entities holding division records covered by this rule. This rule applies to records belonging to, required by, or created by the division, as well as records held by third parties, including other state agencies, that do any of the following: a. Perform division functions…

2.4(1) Request for access. Requests for access to open records not available on the division’s website may be made in writing, by mail, by email, or online as instructed on the division’s website. Requests must identify the particular records sought by name or description in orde…

2.5(1) Procedure. The following provisions are in addition to those specified in rule 191—2.4(17A,22) and are minimum requirements. A statute or another administrative rule may impose additional requirements for access to certain classes of confidential records. A confidential re…

record and withhold it from inspection or refuse to disclose that record to members of the public only to the extent that the division is authorized by Iowa Code section 22.7, another applicable provision of law, or a court order. All other information submitted to the division s…

records. Except as otherwise provided by law, the person who is the subject of a record may have a written statement of additions, dissents or objections entered into that record. The statement shall be filed with the division. The statement must be dated and signed by the person…

2.8(1) To the extent allowed by law, disclosure of confidential records may occur without the consent of the subject. 2.8(2) Authority to release confidential records. The division may have discretion to disclose some confidential records that are exempt from disclosure under Iow…

by any applicable provision of law, the subject of a confidential record may consent to have a copy of the portion of that record that concerns the subject disclosed to a third party. A request for such a disclosure must be in writing, and the person to whom the record is to be d…

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…

20.4(1) Each policy form, endorsement, application and agreement modifying the provisions of policies must bear an identification form number. This form number must be in the lower left-hand corner unless uniform or authentic forms are used. 20.4(2) Reserved. 20.4(3) A form filin…

515F.30 through 515F.38 for the purpose of establishing procedures and requirements for a mandatory risk- sharing facility for basic property insurance coverage. This division is also intended to encourage improvement of and reasonable loss prevention measures for properties loca…

in Iowa. [ARC 7736C, IAB 3/20/24, effective 4/24/24]

515F.32 and rule 191—20.1(505,509,514A,515,515A,515F), the following definitions apply: “Location” means a single building and its contents, or contiguous buildings and their contents, under one ownership. “Manufacturing risks” means those risks eligible to be written under the c…

considered for insurance under the Plan except motor vehicles, inland marine risks, and manufacturing risks as defined above. [ARC 7736C, IAB 3/20/24, effective 4/24/24]

property insurance shall be considered a member of the Plan. Any other insurer may, upon application to and approval by the governing committee, become a member. [ARC 7736C, IAB 3/20/24, effective 4/24/24]

20.46(1) The Plan shall be administered by the governing committee, subject to supervision of the commissioner, and operated by a manager appointed by the governing committee. 20.46(2) The governing committee shall consist of seven members, each of whom shall serve for a period o…

20.47(1) The governing committee shall meet as often as may be required to perform the general duties of the administration of the Plan, or at the call of the commissioner. Four members of the committee present or by proxy shall constitute a quorum. Members of the committee who c…