Iowa Code 515I.8 – Referrals to surplus lines insurance producers
Current as of: 2023 | Check for updates
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Terms Used In Iowa Code 515I.8
- 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
A surplus lines insurance producer may accept referrals to place surplus lines insurance from any other licensed insurance producer and the surplus lines insurance producer may compensate the referring insurance producer for the referral.