§ 515I.1 Purpose
§ 515I.2 Definitions
§ 515I.3 Placement of surplus lines insurance business with nonadmitted insurers and domestic surplus lines insurers
§ 515I.4 Requirements for eligible surplus lines insurers
§ 515I.4A Requirements for domestic surplus lines insurers
§ 515I.5 Duties of surplus lines insurance producers
§ 515I.6 Actions against eligible surplus lines insurers
§ 515I.7 Effect of payment to surplus lines insurance producer
§ 515I.8 Referrals to surplus lines insurance producers
§ 515I.9 Exempt commercial purchasers
§ 515I.10 Independently procured surplus lines insurance — premium tax — penalty
§ 515I.11 Violations and penalties
§ 515I.12 Cease and desist orders — civil and criminal penalties
§ 515I.13 Insurance policy or contract remains valid
§ 515I.13A Scope of operation
§ 515I.14 Severability
§ 515I.15 Rulemaking authority

Terms Used In Iowa Code > Chapter 515I - Surplus Lines Insurance

  • Admitted insurer: means an insurer licensed to do insurance business in this state. See Iowa Code 515I.2
  • Affiliated group: means any group of entities that are affiliates. See Iowa Code 515I.2
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Board: means the engineering and land surveying examining board provided by this chapter. See Iowa Code 542B.2
  • Commercial insurance: means insurance for businesses or professionals. See Iowa Code 515I.2
  • Commissioner: means the commissioner of insurance, or the commissioner's designees. See Iowa Code 515I.2
  • Contract: means the same as defined in section 554D. See Iowa Code 554E.1
  • Contract: A legal written agreement that becomes binding when signed.
  • Control: means either of the following:
  • Domestic surplus lines insurer: means a domestic insurer that has been authorized by the commissioner pursuant to this chapter to do business as a domestic surplus lines insurer with which a surplus lines insurance producer may place surplus lines insurance. See Iowa Code 515I.2
  • Eligible surplus lines insurer: means any of the following:
  • 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.
  • Exempt commercial purchaser: means any person purchasing commercial insurance that, at the time of placement, meets all of the following requirements:
  • 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
  • Home state: means :
  • Insurer: means the same as defined in section 507. See Iowa Code 515I.2
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • month: means a calendar month, and the word "year" and the abbreviation "A. See Iowa Code 4.1
  • Nonadmitted insurer: means an insurer not licensed to do insurance business in this state. See Iowa Code 515I.2
  • Oversight: Committee review of the activities of a Federal agency or program.
  • 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
  • Premium tax: means the tax imposed by the state on a contract of insurance equal to the applicable percent, as provided in section 432. See Iowa Code 515I.2
  • Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
  • property: includes personal and real property. See Iowa Code 4.1
  • Qualified risk manager: means a person who meets all of the following requirements:
  • Record: means the same as defined in section 554D. See Iowa Code 554E.1
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Rule: includes "regulation". See Iowa Code 4.1
  • Sale: means any sale, offer for sale, or attempt to sell or lease any land, to the public in this state, for cash or on credit. See Iowa Code 543C.1
  • Service of process: The service of writs or summonses to the appropriate party.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • 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
  • Statute: A law passed by a legislature.
  • 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
  • Transaction: means a sale, trade, exchange, transfer, payment, or conversion of a digital asset or any other property or any other action or set of actions occurring between two or more persons relating to the conduct of business, commercial, or governmental affairs. See Iowa Code 554E.1
  • United States: includes all the states. See Iowa Code 4.1