Iowa Admin. Code r. 191-5.15

Current through Register Vol. 47, No. 5, August 21, 2024

Rule 191-5.15 - Accounting practices and procedures manual and annual statement instructions

(1)Purpose. The purpose of this rule is to adopt the National Association of Insurance Commissioners' accounting practices and procedures manual which has been revised to provide a comprehensive guide to statutory accounting principles, commonly referred to as the "codification project." Additionally, the rule adopts by reference the annual statement instructions promulgated by the National Association of Insurance Commissioners.

(2)Financial statements. Effective January 1, 2001, all information reflected in the financial statements of insurance companies authorized to do business in Iowa shall conform with the accounting practices and procedures manual of the National Association of Insurance Commissioners.

All annual financial statements filed with the commissioner shall conform to the annual statement instructions and manuals promulgated by the National Association of Insurance Commissioners.

This rule is intended to implement Iowa Code sections 508.11(43), 512B.24, 514.9, 514B. 12, 515.63 and 520.10.

Iowa Admin. Code r. 191-5.15