Iowa Admin. Code rr. 191-113.21

Current through Regsiter Vol. 46, No. 26, June 12, 2024

Rule 191-113.21 - Application and forms

(1) Any person who wants to form a captive company shall make application to the commissioner for authority to conduct a captive company using the Application to Form a Captive Company.

(2) One complete copy of the application, including forms, attachments, exhibits, and all other papers and documents filed as a part thereof, shall be filed electronically with the commissioner through the division's captive website, iid.iowa.gov/captive-insurance-companies. Accompanying fees may be made by personal delivery or mail addressed to the Iowa Insurance Division, 1963 Bell Avenue, Suite 100, Des Moines, Iowa 50315, Attention: Captive Insurance Administrator.

(3) The application shall be signed in the manner prescribed in the application. If the signature of any person is affixed pursuant to a power of attorney or other similar authority, a copy of such power of attorney or other authority shall also be filed with the application.

(4) A captive company must include with its application a feasibility study demonstrating the feasibility of its business plan.

(5) Forms for filing with the division are available on the division's website at iid.iowa.gov/captive-insurance-companies or by mailing a written request to the Iowa Insurance Division, 1963 Bell Avenue, Suite 100, Des Moines, Iowa 50315.

Iowa Admin. Code rr. 191-113.21

Adopted by IAB April 17, 2024/Volume XLVI, Number 21, effective 5/22/2024