Iowa § 519A.3 Temporary joint underwriting association

Iowa Statutes

§ 519A.3 — Temporary joint underwriting association

Iowa § 519A.3

Title XIIICOMMERCE

Ch. 519AMEDICAL MALPRACTICE INSURANCE

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Bluebook

Iowa Code § 519A.3 (2026).

Text

1.A temporary joint underwriting association is created, consisting of all insurers authorized to write and engaged in writing on a direct basis within this state liability insurance, including insurers covering such peril in multiple peril policies. Every such insurer shall be a member of the association and shall remain a member as a condition of its authority to continue to write liability insurance in this state.

2.Thepurposeoftheassociationshallbetoprovide, foraperiodnotexceedingtwoyears, a market for medical malpractice insurance on a self-supporting basis without subsidy from its members.

3.

a.The association shall not commence underwriting operations for health care providers until the commissioner, after notice and opportunity for hearing, has determined that medical malpractic

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1. A temporary joint underwriting association is created, consisting of all insurers
authorized to write and engaged in writing on a direct basis within this state liability
insurance, including insurers covering such peril in multiple peril policies. Every such
insurer shall be a member of the association and shall remain a member as a condition of its
authority to continue to write liability insurance in this state.
2. Thepurposeoftheassociationshallbetoprovide, foraperiodnotexceedingtwoyears,
a market for medical malpractice insurance on a self-supporting basis without subsidy from
its members.
3. a. The association shall not commence underwriting operations for health care
providers until the commissioner, after notice and opportunity for hearing, has determined
that medical malpractice insurance is not available at a reasonable cost for a specific type
of licensed health care provider in the voluntary market. Upon such determination the
association shall be authorized to issue policies of medical malpractice insurance for such
specific type of health care provider but need not be the exclusive agency through which
such insurance may be written on a primary basis in this state.
b. If the commissioner determines at any time that medical malpractice insurance can be
made available in the voluntary market at a reasonable price for any specific type of licensed
health care provider, the association shall thereby cease underwriting medical malpractice
insurance for that type of licensed health care provider.
4. Theassociationshall,subjecttothetermsandconditionsofsection519A.2,thissection,
and sections 519A.4 through 519A.13, have and exercise the following powers on behalf of
its members:
a. To issue, or to cause to be issued, policies of insurance to applicants, including
incidental coverages and subject to limits as specified in the plan of operation but not to
exceed one million dollars for each claimant under one policy and three million dollars for
all claimants under one policy in any one year.
b. To underwrite such insurance and to adjust and pay losses with respect thereto, or to
appoint service companies to perform those functions.
c. To assume reinsurance from its members.
d. To cede reinsurance.