Iowa § 514G.111 Authority to promulgate rules

Iowa Statutes

§ 514G.111 — Authority to promulgate rules

Iowa § 514G.111

Title XIIICOMMERCE

Ch. 514GLONG-TERM CARE INSURANCE ACT

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Bluebook

Iowa Code § 514G.111 (2026).

Text

The commissioner may adopt rules pursuant to chapter 17A related to long-term care insurance and to the administration and enforcement of this chapter, including but not limited to the following:

1.Promoting adequate premiums and protecting policyholders in the event of substantial rate increases.

2.Establishing minimum standards for producer education, compensation, and testing; marketing practices; reporting practices; and penalties related to the sale of long-term care insurance in this state.

3.Establishing loss ratio standards for long-term care insurance policies with specific reference to such policies.

4.Providing standards for full and fair disclosure by setting forth the manner and content of disclosures required for the sale of long-term care insurance policies including ter

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The commissioner may adopt rules pursuant to chapter 17A related to long-term care
insurance and to the administration and enforcement of this chapter, including but not
limited to the following:
1. Promoting adequate premiums and protecting policyholders in the event of substantial
rate increases.
2. Establishing minimum standards for producer education, compensation, and testing;
marketing practices; reporting practices; and penalties related to the sale of long-term care
insurance in this state.
3. Establishing loss ratio standards for long-term care insurance policies with specific
reference to such policies.
4. Providing standards for full and fair disclosure by setting forth the manner and
content of disclosures required for the sale of long-term care insurance policies including
terms of renewability; initial and subsequent conditions of eligibility; nonduplication of
coverage provisions; coverage of dependents; effect of preexisting conditions; termination,
continuation, or conversion of policies; probationary periods; limitations, exceptions, and
reductions; elimination periods; requirements for replacement; recurrent conditions; and
definitions of terms.
5. Requiring certain remedial actions necessitated by changes in the long-term care
insurance market to provide fair and reasonable protections for long-term care insurance
purchasers and beneficiaries.
6. Ensuring the prompt payment of clean claims.
7. Administering the independent review process of insurers’ benefit trigger
determinations.