Iowa Code 515K.6 – Travel administrators
Current as of: 2024 | Check for updates
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Terms Used In Iowa Code 515K.6
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
- property: includes personal and real property. See Iowa Code 4.1
- 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
515K.6 Travel administrators.
1. Notwithstanding any provision of Title XIII, subtitle 1, to the contrary, a person shall
not act as, or represent itself as, a travel administrator for travel insurance in this state unless the person meets at least one of the following requirements:
a. The person is a licensed property and casualty insurance producer in this state.
b. The person is in compliance with all laws and regulations that are applicable to managing general agents in this state.
c. The person is in compliance with all laws and regulations that are applicable to third-party administrators in this state.
2. An insurer shall be responsible for the acts of a travel administrator administering travel insurance underwritten by the insurer, and for ensuring that the travel administrator maintains all records related to the insurer and makes the records available to the commissioner upon request of the commissioner.
2022 Acts, ch 1035, §6
1. Notwithstanding any provision of Title XIII, subtitle 1, to the contrary, a person shall
not act as, or represent itself as, a travel administrator for travel insurance in this state unless the person meets at least one of the following requirements:
a. The person is a licensed property and casualty insurance producer in this state.
b. The person is in compliance with all laws and regulations that are applicable to managing general agents in this state.
c. The person is in compliance with all laws and regulations that are applicable to third-party administrators in this state.
2. An insurer shall be responsible for the acts of a travel administrator administering travel insurance underwritten by the insurer, and for ensuring that the travel administrator maintains all records related to the insurer and makes the records available to the commissioner upon request of the commissioner.
2022 Acts, ch 1035, §6