Iowa Admin. Code r. 191-20.58

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

Rule 191-20.58 - Cooperation and authority of producers

(1) Each insurer shall require its licensed producers to cooperate fully in the accomplishment of the intents and purposes of the Plan.

(2) Licensed insurance producers shall not act as agents for the Plan.

(3) Licensed insurance producers shall not do any of the following:

a. Bind coverage for the Plan.

b. Alter or change policies issued by the Plan.

c. Settle losses of the Plan.

d. Act on behalf of the Plan or commit the Plan to any course of action.

(4) Licensed insurance producers shall assist applicants who need to apply for coverage under the Plan, and shall submit applications that meet the requirements under rule 191-20.49 (515,515F). Producers shall follow the rules and procedures of the Plan.

Iowa Admin. Code r. 191-20.58

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