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

1. The purpose of this chapter is to provide an effective and efficient system for examining the activities, operations, financial condition, and affairs of all persons transacting the business of insurance in this state and all persons otherwise subject to the jurisdiction of th…

1. General description. All examination reports shall be comprised only of facts appearing upon the books, records, or other documents of the company, its agents, or other persons examined, or as ascertained from the testimony of its officers or agents or other persons examined c…

In case of companies organized under the provisions of chapter 508 , the officers shall proceed as provided in sections 508.18 and 508.19 . [S13, §1821-d; C24, 27, 31, 35, 39, § 8636; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §507.12 ] 91 Acts, ch 26, §57 Referred to in §5…

1. A preliminary report of an examination of a domestic or foreign insurer, and all notes, work papers, or other documents related to an examination of an insurer are confidential records under chapter 22 except when sought by the insurer to whom they relate, an insurance regulat…

Any transfer of stock of any company, pending an investigation, shall not release the party making the transfer from any liability for losses that may have occurred previous to such transfer. [S13, §1821-e; C24, 27, 31, 35, 39, § 8639; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79,…

It shall be unlawful for any officer, manager, agent, or representative of any insurance company contemplated by this chapter , who, with knowledge that its certificate of authority has been suspended or revoked, or that it is insolvent, or is doing an unlawful or unauthorized bu…

1. A cause of action does not arise nor shall any liability be imposed against the commissioner, the commissioner’s authorized representative, or any examiner appointed by the commissioner for any statements made or conduct performed in good faith while carrying out the provision…

1. The commissioner or any of the commissioner’s examiners may conduct an examination under this chapter of any company as often as the commissioner deems appropriate, but at a minimum, shall conduct an examination of any domestic insurer licensed in this state no less than once …

1. Upon determining that an examination should be conducted, the commissioner or the commissioner’s designee may appoint one or more examiners to perform the examination and instruct them as to the scope of the examination. In conducting the examination, the examiner shall observ…

1. The commissioner of insurance may appoint insurance examiners, at least one of whom shall be an experienced actuary, and at least one of whom shall be an experienced and competent fire insurance accountant, and who, while conducting examinations, shall possess all the powers c…

The commissioner may appoint a chief examiner who shall supervise insurance company examinations and perform such other duties as may be assigned by the commissioner. The chief examiner shall receive a salary to be fixed by the commissioner. The chief examiner shall be exempt fro…

1. An examiner shall not be appointed by the commissioner if the examiner, either directly or indirectly, has a conflict of interest or is affiliated with the management of or owns a pecuniary interest in any person subject to examination under this chapter . This section shall n…

Said examiners and assistants and the said commissioner shall receive actual and necessary traveling, hotel, and other expenses while engaged in conducting examinations away from their respective places of residence. [S13, §1821-c; C24, 27, 31, 35, 39, § 8631; C46, 50, 54, 58, 62…

The commissioner shall upon the completion of an examination, or at such regular intervals prior to completion as the commissioner determines, prepare an account of the costs incurred in performing and preparing the report of such examinations which shall be charged to and paid b…

All fees collected under the provisions of this chapter shall be paid to the commissioner of insurance and shall be turned in to the state treasury for deposit as provided in section 505.7 . [S13, §1821-c; C24, 27, 31, 35, 39, § 8633; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, …

This chapter may be cited as the “Iowa Unauthorized Insurers Act” . [C50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §507A.1 ]

1. Upon a determination by the commissioner, after a hearing conducted pursuant to chapter 17A , that a person or insurer has violated a provision of this chapter , the commissioner shall reduce the findings of the hearing to writing and deliver a copy of the findings to the pers…

The attorney general upon request of the commissioner of insurance may proceed in the courts of this state or any reciprocal state to enforce an order or decision in any court proceeding or in any administrative proceeding before the commissioner of insurance. 1. As used in this …

1. The purpose of this chapter is to subject certain persons and insurers to the jurisdiction of the insurance commissioner and the courts of this state in suits by or on behalf of the state and insureds or beneficiaries under insurance contracts. The general assembly hereby decl…

1. Unless otherwise indicated, “insurer” as used in this chapter includes all corporations, associations, partnerships and individuals engaged in the business of insurance. Any of the following acts in this state, effected by mail or otherwise, by an unauthorized insurer is defin…

The provisions of this chapter shall not apply to: 1. The lawful transaction of surplus lines insurance as permitted by chapter 515I . 2. The lawful transaction of reinsurance by insurers. 3. Attorneys acting in the ordinary relation of attorney and client in the adjustment of cl…

1. A person or insurer shall not directly or indirectly perform any act of doing an insurance business as defined in this chapter except as provided by and in accordance with the specific authorization by statute. However, should an unauthorized person or insurer perform an act o…

1. Any act of doing an insurance business as set forth in this chapter by any unauthorized person or insurer is equivalent to and shall constitute an irrevocable appointment by such person and insurer, binding upon the person or insurer, the person’s or insurer’s executor or admi…

1. Before any unauthorized person or insurer files or causes to be filed any pleading or process in an administrative proceeding before the commissioner of insurance, instituted against such person or insurer, by service made as provided in this chapter , such person or insurer s…

1. Whenever the commissioner of insurance has reason to believe that insurance has been effectuated by or for any person in this state with an unauthorized insurer the commissioner shall in writing order such person to produce for examination all insurance contracts and other doc…

1. For all premiums collected during the calendar year, except premiums on lawfully procured surplus lines insurance, every unauthorized insurer shall pay to the commissioner of insurance before March 1, next succeeding the calendar year in which the insurance was so effectuated,…

The purpose of this chapter is to regulate trade practices in the business of insurance in accordance with the intent of Congress as expressed in the Act of Congress of March 9, 1945, Pub. L. No. 79-15, 59 Stat. 33, codified at 15 U.S.C. §1011 – 1015, by defining, or providing fo…

1. The commissioner may, after notice and hearing, promulgate reasonable rules, as are necessary or proper to identify specific methods of competition or acts or practices which are prohibited by section 507B.4 , 507B.4A , or 507B.5 , but the rules shall not enlarge upon or exten…

If any person shall ask to be excused from attending and testifying or from producing any books, papers, records, correspondence or other documents at any hearing on the ground that the testimony or evidence required of the person may tend to incriminate the person or subject the…

1. When a controlling interest in two or more corporations, at least one of which is an insurance company domiciled in this state, is held by any person, group of persons, firm, or corporation, no exchange of stock, transfer or sale of securities, or loan based upon securities of…

When used in this chapter : 1. “Person” shall mean any individual, corporation, association, partnership, reciprocal exchange, interinsurer, fraternal beneficiary association, and any other legal entity engaged in the business of insurance, including insurance producers, appraise…

A person shall not engage in this state in any trade practice which is defined in this chapter as, or determined pursuant to section 507B.6 to be, an unfair method of competition, or an unfair or deceptive act or practice in the business of insurance. 1. A person who violates a p…

1. For purposes of subsection 3 , paragraph “p” , “insurer” means an entity providing a plan of health insurance, health care benefits, or health care services, or an entity subject to the jurisdiction of the commissioner performing utilization review, including an insurance comp…

1. A person shall promptly respond to inquiries from the commissioner. a. A person’s actions are deemed untimely under this subsection if the person fails to respond to an inquiry from the commissioner within thirty days of the receipt of the inquiry, unless good cause exists for…

1. A person shall not recommend to any individual the purchase, sale, or exchange of any annuity contract, or any rider, endorsement, or amendment thereto, unless the person has reasonable grounds to believe that the recommendation is suitable for the individual based on a reason…

1. Purpose. The purpose of this section is to require complete and proper disclosure, transparency, and accountability relating to any method of payment for life insurance death benefits regulated by the commissioner. 2. Definitions. As used in this section , unless the context o…

1. No person may do any of the following: a. Require, as a condition precedent to the lending of money or extension of credit, or any renewal thereof, that the person to whom such money or credit is extended or whose obligation the creditor is to acquire or finance, negotiate any…

1. Whenever the commissioner believes that any person has been engaged or is engaging in this state in any unfair method of competition or any unfair or deceptive act or practice whether or not defined in section 507B.4 , 507B.4A , or 507B.5 and that a proceeding by the commissio…

1. Upon a determination by the commissioner that a person or insurer has engaged, is engaging, or is about to engage in any act or practice constituting a violation of this chapter or a rule adopted or order issued under this chapter , the commissioner may issue a summary order, …

1. If, after hearing, the commissioner determines that a person has engaged in an unfair method of competition or an unfair or deceptive act or practice, the commissioner shall reduce the findings to writing and shall issue and cause to be served upon the person charged with the …

Section 505.29 is applicable to hearings required by sections 507B.6 , 507B.6A , and 507B.7 . 2006 Acts, ch 1117, §26

1. Judicial review of the actions of the commissioner may be sought in accordance with the terms of the Iowa administrative procedure Act, chapter 17A . To the extent that an order of the commissioner is affirmed in any judicial review proceeding, the court shall thereupon issue …

1. A person shall not knowingly engage in the sale of duplicate Medicare supplement insurance coverage, as defined by rule of the commissioner. 2. The commissioner of insurance shall adopt rules pursuant to chapter 17A which define the sale of duplicate Medicare supplement insura…

1. This chapter shall be cited as the “Insurers Supervision, Rehabilitation, and Liquidation Act” . 2. This chapter shall not be interpreted to limit the powers granted the commissioner by any other law. 3. This chapter shall be liberally construed to effect the purpose stated in…

1. With respect to a domestic insurer the commissioner may file in the district court a petition alleging all of the following: a. That there exist grounds that would justify a court order for a formal delinquency proceeding against an insurer under this chapter . b. That the int…

Notwithstanding chapter 22 , in all administrative proceedings pursuant to sections 507C.9 and 507C.10 all orders, records, and documents pertaining to or a part of the record of the proceedings are confidential except as is necessary to obtain compliance with a proceeding. Howev…