Iowa Code 515I.13 – Insurance policy or contract remains valid
Current as of: 2023 | Check for updates
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Terms Used In Iowa Code 515I.13
- Contract: means the same as defined in section 554D. See Iowa Code 554E.1
- Contract: A legal written agreement that becomes binding when signed.
- Eligible surplus lines insurer: means any of the following:a. See Iowa Code 515I.2
- Insurer: means the same as defined in section 507. See Iowa Code 515I.2
A policy or contract of insurance issued or delivered by an eligible surplus lines insurer or a nonadmitted insurer which is otherwise valid and contains a condition or provision not in compliance with the requirements of this chapter is not thereby rendered invalid but shall be construed and applied in accordance with the conditions and provisions which would have applied had the policy or contract been issued or delivered in full compliance with this chapter.