Iowa Code 521C.10 – Examination authority
Current as of: 2023 | Check for updates
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1. A reinsurance intermediary is subject to examination by the commissioner. The commissioner shall have access to all books, bank accounts, and records of the reinsurance intermediary in a form usable to the commissioner.
Terms Used In Iowa Code 521C.10
- Commissioner: means the commissioner of insurance. See Iowa Code 510.1B
- Reinsurance intermediary: means a reinsurance intermediary-broker or a reinsurance intermediary-manager. See Iowa Code 521C.2
- Reinsurance intermediary-manager: means a person who has authority to bind or manage all or part of the assumed reinsurance business of a reinsurer, including the management of a separate division, department, or underwriting office, and acts as an agent for the reinsurer whether known as a reinsurance intermediary-manager or manager, or known by any other similar term or title. See Iowa Code 521C.2
- Reinsurer: means a person licensed in this state as a reinsurer with the authority to assume reinsurance. See Iowa Code 521C.2
2. A reinsurance intermediary-manager may be examined as if it were the reinsurer.