Iowa Code 515B.17 – Timely filing of claims
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Iowa Code 515B.17
- Association: means the Iowa insurance guaranty association created pursuant to section 515B. See Iowa Code 515B.2
- Covered claim: means an unpaid claim, including one for unearned premiums, which arises out of and is within the coverage and is subject to the applicable limits of an insurance policy to which this chapter applies issued by an insurer, if such insurer becomes an insolvent insurer after July 1, 1970, and one of the following conditions exists:(1) The claimant or insured is a resident of this state at the time of the insured event. See Iowa Code 515B.2
- Insurer: means an insurer licensed to transact insurance business in this state under either chapter 515 or chapter 520, either at the time the policy was issued or when the insured event occurred. See Iowa Code 515B.2
Notwithstanding any other provision of this chapter, a covered claim shall not include any claim filed with the association after twenty-four months from the date of the order of liquidation or after the final date set by the court for the filing of claims against the insolvent insurer or its receiver, whichever occurs first.