Iowa § 521E.7 Confidential hearings

Iowa Statutes

§ 521E.7 — Confidential hearings

Iowa § 521E.7

Title XIIICOMMERCE

Ch. 521ERISK-BASED CAPITAL REQUIREMENTS FOR INSURERS

This text of Iowa § 521E.7 (Confidential hearings) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 521E.7 (2026).

Text

1. An insurer shall notify the commissioner of the insurer’s request for a confidential hearing within five days after the occurrence of any of the following: a. Notification to an insurer by the commissioner of an adjusted risk-based capital report. b. Notification to an insurer by the commissioner of both of the following:

(1)The insurer’s risk-based capital plan or revised risk-based capital plan is unsatisfactory.

(2)That the notification pursuant to this paragraph constitutes a regulatory-action-level event with respect to the insurer. c. Notificationtoaninsurerbythecommissionerthattheinsurerhasfailedtoadheretoits risk-based capital plan or revised risk-based capital plan and that the failure has a substantial adverse effect on the ability of the insurer to eliminate the company-act

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1. An insurer shall notify the commissioner of the insurer’s request for a confidential
hearing within five days after the occurrence of any of the following:
a. Notification to an insurer by the commissioner of an adjusted risk-based capital report.
b. Notification to an insurer by the commissioner of both of the following:
(1) The insurer’s risk-based capital plan or revised risk-based capital plan is
unsatisfactory.
(2) That the notification pursuant to this paragraph constitutes a regulatory-action-level
event with respect to the insurer.
c. Notificationtoaninsurerbythecommissionerthattheinsurerhasfailedtoadheretoits
risk-based capital plan or revised risk-based capital plan and that the failure has a substantial
adverse effect on the ability of the insurer to eliminate the company-action-level event in
accordance with its risk-based capital plan or revised risk-based capital plan.
d. Notification to an insurer by the commissioner of a corrective order with respect to the
insurer.
2. An insurer receiving a notification pursuant to subsection 1 is entitled to a confidential
hearing before the insurance division, at which the insurer may challenge a determination
or action by the commissioner. Upon receipt of the insurer’s request for a hearing, the
commissioner shall set a date for the hearing, which shall be not less than ten or more than
thirty days after the date of the insurer’s request.