I. This chapter shall apply to direct life insurance policies, health insurance policies, annuity contracts, and contracts supplemental to life and health insurance policies and annuity contracts issued by persons authorized to transact insurance in this state at any time. The term health insurance is intended to include "accident and health" insurance, "sickness and accident" insurance, and "disability" insurance.II. This chapter shall not apply to: (a) Any such policies or contracts, or any part of such policies or contracts, under which the risk is borne by the policyholder.(b) Any such policy or contract or part thereof assumed by the impaired insurer under a contract of reinsurance, other than reinsurance for which assumption certificates have been issued.(c) Any such policy or contract issued by assessment mutuals, fraternals, health maintenance organizations and nonprofit hospital and medical service plans.1971, 509:1. 1983, 399:2. 1990, 114:1. 2003, 293:6, eff. July 18, 2003.