Iowa Code 515I.6 – Actions against eligible surplus lines insurers
Current as of: 2023 | Check for updates
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Terms Used In Iowa Code 515I.6
- 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
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Insurer: means the same as defined in section 507. See Iowa Code 515I.2
- Person: means the same as defined in section 507. See Iowa Code 515I.2
- placed: means that an eligible surplus lines insurer has accepted a premium and issued an insurance policy or contract for a particular risk. See Iowa Code 515I.2
- Service of process: The service of writs or summonses to the appropriate party.
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
- Surplus lines insurance: means any property and casualty insurance in this state on properties, risks, or exposures, located or to be performed in this state, that is placed through a surplus lines insurance producer with an eligible surplus lines insurer. See Iowa Code 515I.2
- Surplus lines insurance producer: means a person licensed pursuant to chapter 522B to sell, solicit, or negotiate surplus lines insurance. See Iowa Code 515I.2
An eligible surplus lines insurer may be sued upon a cause of action arising in this state under a surplus lines insurance policy or contract placed by the insurer or upon evidence of insurance placed by the insurer and issued or delivered in this state by a surplus lines insurance producer. A policy or contract issued by an eligible surplus lines insurer shall contain a provision stating the substance of this section and designating the person upon whom service of process can be made on behalf of the insurer.