Iowa § 507A.8 Order by commissioner to produce contracts

Iowa Statutes

§ 507A.8 — Order by commissioner to produce contracts

Iowa § 507A.8

Title XIIICOMMERCE

Ch. 507AUNAUTHORIZED INSURERS

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Bluebook

Iowa Code § 507A.8 (2026).

Text

1.Wheneverthecommissionerofinsurancehasreasontobelievethatinsurancehasbeen effectuated by or for any person in this state with an unauthorized insurer the commissioner shall in writing order such person to produce for examination all insurance contracts and other documents evidencing insurance with both authorized and unauthorized insurers and to disclose to the commissioner the amount of insurance, name and address of each insurer, gross amount of premium paid or to be paid and the name and address of the person or persons assisting or aiding in the solicitation, negotiation, or effectuation of such insurance.

2.Every person investigating or adjusting any loss or claim on a subject of insurance in this state shall immediately report to the commissioner every insurance policy or contract

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1. Wheneverthecommissionerofinsurancehasreasontobelievethatinsurancehasbeen
effectuated by or for any person in this state with an unauthorized insurer the commissioner
shall in writing order such person to produce for examination all insurance contracts and
other documents evidencing insurance with both authorized and unauthorized insurers and
to disclose to the commissioner the amount of insurance, name and address of each insurer,
gross amount of premium paid or to be paid and the name and address of the person or
persons assisting or aiding in the solicitation, negotiation, or effectuation of such insurance.
2. Every person investigating or adjusting any loss or claim on a subject of insurance in
this state shall immediately report to the commissioner every insurance policy or contract
which has been entered into by any insurer not authorized to transact such insurance in this
state.
3. Every person who, for thirty days after receipt of written order pursuant to subsection 1
ofthissection, neglectstocomplywiththerequirementsofsuchorderorwhowillfullymakes
a disclosure that is untrue, deceptive, or misleading shall forfeit fifty dollars.