Title XIII, COMMERCE (Ch. 505 - 554I)

If an ancillary receiver in another state or foreign country, whether called by that name or not, fails to transfer to the domiciliary liquidator in this state assets within the ancillary receiver’s control other than special deposits, diminished only by the expenses of the ancil…

1. An officer, manager, director, trustee, owner, employee, or agent of an insurer, or any other person with authority over or in charge of any segment of the insurer’s affairs, shall cooperate with the commissioner in any proceeding under this chapter or any investigation prelim…

Without advance notice or a hearing, the commissioner may suspend immediately the certificate of authority of any insurer as to which proceedings for receivership, conservatorship, rehabilitation, or other delinquency proceedings have been commenced in any state by the public ins…

In a proceeding under this chapter , the commissioner and the commissioner’s deputies shall be responsible on their official bonds for the faithful performance of their duties. If the court deems it desirable for the protection of the assets, it may require an additional bond fro…

An insurer subject to a delinquency proceeding shall not be released from the delinquency proceeding unless the proceeding is converted into a rehabilitation or liquidation proceeding; shall not be permitted to solicit or accept new business, or request or accept the restoration …

1. If after a hearing held under subsection 5 , the commissioner determines that a domestic insurer has committed or engaged in, or is about to commit or engage in, an act, practice, or transaction that would subject it to delinquency proceedings under this chapter , the commissi…

This chapter shall be known as the “Insurance Assistance Act” . 86 Acts, ch 1211, §26

1. The commissioner of insurance may adopt rules pursuant to chapter 17A for the collection of necessary additional information relating to the availability, obtainability, costs, profits, and losses associated with the provision of property, casualty, product, professional, or o…

The commissioner of insurance is authorized to institute programs, order the institution of programs within the private sector, or to contract with or delegate authority to the department of administrative services for the institution of programs relating to insurance assistance …

The insurance commissioner may, by rule, provide for the financing, as necessary, for any or all programs under sections 507D.2 and 507D.3 by the assessment of fees to insurers authorized to write property, casualty, product, professional, or other liability insurance within this…

1. The commissioner of insurance shall conduct a rate adjustment review for all insurers authorized to write property, casualty, product, professional, or other liability insurance within this state and who make a request for rate adjustment regarding such insurance. The commissi…

The commissioner of insurance is authorized to conduct such further surveys, market reviews, data collection and analysis, studies of a mandatory risk allocation system and a risk-sharing program and such other studies as the commissioner deems necessary for the proper implementa…

This chapter may be cited as the “Iowa Insurance Fraud Act” . 94 Acts, ch 1072, §1, 9 ; 95 Acts, ch 185, §46

An insurance fraud bureau is created within the insurance division. Upon a reasonable determination by the division, by its own inquiries or as a result of a complaint filed with the division, that a person has engaged in, is engaging in, or may be engaging in an act or practice …

As used in this chapter , unless the context otherwise requires: 1. “Insurance” means any and all contracts, arrangements, and agreements by or through which one party, for compensation, assumes risks of another party and promises to pay the second party or the second party’s nom…

1. For purposes of this chapter , “statement” includes, but is not limited to, any notice, statement, proof of loss, bill of lading, receipt for payment, invoice, account, estimate of property damage, bill for services, diagnosis, prescription, hospital or physician record, X ray…

1. A person commits the offense of fraudulent sales practices if the person, with the intent to defraud another person in connection with any sale, solicitation, or negotiation of insurance in this state, willfully does any of the following: a. Employs any deception, device, sche…

The bureau shall seek to obtain by request, any information related to the enforcement of this chapter in the possession of a person located outside the state. The bureau may designate a representative, including an official of the state where the information is located, to inspe…

1. All investigation files, investigation reports, and all other investigative information in the possession of the bureau are confidential records under chapter 22 except as specifically provided in this section and are not subject to discovery, subpoena, or other means of legal…

An insurer which believes that a claim or application for insurance coverage is being made which is a violation of section 507E.3 shall provide, within sixty days of the receipt of such claim or application, written notification to the bureau of the claim or application on a form…

1. A person acting without malice, fraudulent intent, or bad faith is not liable civilly as a result of filing a report or furnishing, orally or in writing, other information concerning alleged acts in violation of this chapter , if the report or information is provided to or rec…

1. An individual employed by the division and designated as a peace officer shall be considered a law enforcement officer as that term is defined in section 80B.3 , and shall exercise the powers of a law enforcement officer as follows: a. For purposes of an arrest resulting from …

This chapter may be cited as the “Insurance Data Security Act” . 2021 Acts, ch 79, §1, 17

1. If a cybersecurity event involves nonpublic information used by, or that is in the possession, custody, or control of, a licensee that is acting as an assuming insurer and that does not have a direct contractual relationship with consumers affected by the cybersecurity event, …

If a cybersecurity event involves nonpublic information that is in the possession, custody, or control of a licensee that is an insurer, or in the possession, custody, or control of the insurer’s third-party service provider, and for which a consumer accessed the insurer’s servic…

1. Documents, materials, and other information in the control or possession of the commissioner that are furnished by a licensee, or by an employee or agent of the licensee acting on behalf of the licensee, or that are obtained by the commissioner in an investigation or examinati…

1. This chapter shall not apply to a licensee that is subject to, and in compliance with, the Health Insurance Portability and Accountability Act . The licensee shall annually submit to the commissioner a written certification of the licensee’s compliance with HIPAA. 2. This chap…

A licensee that violates this chapter shall be subject to penalties pursuant to section 505.7A and chapter 507B . 2021 Acts, ch 79, §14, 17

1. The commissioner may adopt rules pursuant to chapter 17A as necessary to administer this chapter . 2. The commissioner may take any enforcement action under the commissioner’s authority to enforce compliance with this chapter . 2021 Acts, ch 79, §15, 17

If any provision of this chapter or its application to any person or circumstance is held invalid, the invalidity shall not affect other provisions or applications of this chapter which can be given effect without the invalid provision or application, and to this end the provisio…

1. Notwithstanding any provision of law to the contrary, this chapter establishes the exclusive state standards for data security, and the investigation and notification of cybersecurity events, applicable to licensees. 2. This chapter shall not be construed to create or imply a …

As used in this chapter , unless the context otherwise requires: 1. “Authorized individual” means an individual known to and screened by a licensee and determined to be necessary and appropriate to have access to nonpublic information held by the licensee and the licensee’s infor…

1. a. Commensurate with the size and complexity of a licensee, the nature and scope of a licensee’s activities including the licensee’s use of third-party service providers, and the sensitivity of nonpublic information used by the licensee or that is in the licensee’s possession,…

1. A licensee shall exercise due diligence in the selection of third-party service providers, conduct oversight of all third-party service provider arrangements, and require all third-party service providers to implement appropriate administrative, technical, and physical measure…

1. If a licensee discovers that a cybersecurity event has occurred, or that a cybersecurity event may have occurred, the licensee, or the outside vendor or third-party service provider the licensee has designated to act on behalf of the licensee, shall conduct a prompt investigat…

1. A licensee shall notify the commissioner no later than three business days from the date of the licensee’s confirmation of a cybersecurity event if any of the following conditions apply: a. The licensee is an insurer who is domiciled in this state, or is a producer whose home …

1. In the event of a cybersecurity event involving nonpublic information a licensee shall comply with the notification requirements pursuant to section 715C.2 , and all other applicable notification requirements pursuant to federal or state law. 2. If a licensee is required to pr…

1. If a licensee becomes aware of a cybersecurity event in an information system maintained by a third-party service provider of the licensee, the licensee shall comply with section 507F.7 , or the licensee may obtain a written certification from the third-party service provider …

Every life insurance company upon the level premium or the natural premium plan, created under the laws of this or any other state or country, shall, before issuing policies in the state, comply with the provisions of this chapter applicable to such companies. [C73, §1161; C97, §…

1. A company incorporated by or organized under the laws of any other state or government shall not transact business in this state unless it is possessed of the actual amount of capital and surplus required of any company organized by the laws of this state, or, if it be a mutua…

The president or vice president and secretary or actuary, or a majority of the directors of each company organized under this chapter , shall annually, on or before the first day of March, prepare under oath and file in the office of the commissioner of insurance or a depository …

1. An insurer which is organized under the laws of any state and has created or will create jobs in this state or which is an affiliate or subsidiary of a domestic insurer, and is admitted to do business in this state for the purpose of writing insurance authorized by this chapte…

1. On receipt of an application for a certificate of authority or renewal of a certificate of authority, the appropriate fees, and the statement and evidence of investment of foreign companies, the commissioner of insurance shall issue a certificate or a renewal of a certificate …

1. Upon failure of a company organized under the laws of this state to file the statement in the time stated in section 508.11 , or to file in a timely manner any financial statement required by rule of the commissioner of insurance, the commissioner of insurance shall notify the…

Companies organized and chartered by the laws of a foreign state or country, failing to file the evidence of investment and statement within the time fixed, or failing to timely file any financial statement required by rule of the commissioner of insurance, shall forfeit and pay …

The commissioner may do one or more of the following: 1. For a violation of Title XIII, subtitle 1 , after a hearing provided pursuant to chapter 17A , order the suspension of the license or authority to transact the business of insurance within the state. 2. Upon three days’ not…