§ 521C.1 Short title
§ 521C.2 Definitions
§ 521C.3 Licensure
§ 521C.4 Required contract provisions — reinsurance intermediary-brokers
§ 521C.5 Books and records — reinsurance intermediary-brokers
§ 521C.6 Duties of insurers utilizing the services of a reinsurance intermediary-broker
§ 521C.7 Required contract provisions — reinsurance intermediary-managers
§ 521C.8 Prohibited acts
§ 521C.9 Duties of reinsurers utilizing the services of a reinsurance intermediary-manager
§ 521C.10 Examination authority
§ 521C.11 Penalties and liabilities
§ 521C.12 Rules
§ 521C.13 Service of process made on the commissioner as the agent for service of process

Terms Used In Iowa Code > Chapter 521C - Reinsurance Intermediaries

  • Account: means the same as defined in section 554. See Iowa Code 554E.1
  • Actuary: means a person who is a member in good standing of the American academy of actuaries. See Iowa Code 521C.2
  • Board: means the engineering and land surveying examining board provided by this chapter. See Iowa Code 542B.2
  • Commission: means the real estate commission as established by chapter 543B. See Iowa Code 543C.1
  • Commissioner: means the commissioner of insurance. See Iowa Code 510.1B
  • Contract: means the same as defined in section 554D. See Iowa Code 554E.1
  • Contract: A legal written agreement that becomes binding when signed.
  • Controlling person: means a person who directly or indirectly has the power to direct or cause to be directed, the management, control, or activities of the reinsurance intermediary. See Iowa Code 521C.2
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • 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.
  • Fiduciary: A trustee, executor, or administrator.
  • financial institution: means the same as defined in section 527. See Iowa Code 547A.1
  • 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
  • Insurer: means a person licensed to transact the business of insurance in this state. See Iowa Code 521C.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.
  • Licensed producer: means an agent, broker, or reinsurance intermediary licensed pursuant to the applicable provision of the insurance law of any jurisdiction. See Iowa Code 521C.2
  • 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
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • property: includes personal and real property. See Iowa Code 4.1
  • Record: means the same as defined in section 554D. See Iowa Code 554E.1
  • Reinsurance intermediary: means a reinsurance intermediary-broker or a reinsurance intermediary-manager. See Iowa Code 521C.2
  • Reinsurance intermediary-broker: means a person, other than an officer or employee of the ceding insurer, who solicits, negotiates, or places reinsurance cessions or retrocessions on behalf of a ceding insurer without the authority or power to bind reinsurance on behalf of the ceding insurer. 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
  • 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
  • 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
  • year: means twelve consecutive months. See Iowa Code 4.1