Iowa Admin. Code r. 191-41.15

Current through Register Vol. 47, No.14, January 8, 2025

Rule 191-41.15 - Reinsurance

Reinsurance contracts and stop-loss agreements entered into by an LSO shall be subject to prior approval and shall meet the following minimum requirements:

1. Reinsurance contracts and stop-loss agreements shall provide that the commissioner of insurance be given notice of termination by certified mail at least 30 days prior to the effective date of termination of the reinsurance contract or stop-loss agreement.

2. Retention levels shall be reasonable in light of the LSO's financial condition and potential liabilities.

Iowa Admin. Code r. 191-41.15