Iowa Admin. Code r. 191-20.49

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

Rule 191-20.49 - Application for insurance

(1) Any person who has an insurable interest in an eligible risk in property permitted to be written in the Plan and who has received within the last six months a notice of rejection, nonrenewal or cancellation from an insurer may apply for insurance by the Plan.

(2) An inspection need not be made if the governing committee determines that insurance can be provided for specified classes of risks on the basis of representations of the applicant or insurance producer.

(3) The Plan may bind coverage. The Plan may wait until receipt of the inspection report or receipt of additional underwriting information before determining whether to bind coverage. Coverage will be bound by the Plan by acknowledgement to the producer.

Iowa Admin. Code r. 191-20.49

Adopted by IAB March 20, 2024/Volume XLVI, Number 19, effective 4/24/2024