ARC 8056C

ARC 8056C

INSURANCE DIVISION[191]

Adopted and Filed Emergency After Notice

Rulemaking related to property and casualty insurance

The Insurance Division hereby amends Chapter 20, "Property and Casualty Insurance," Iowa Administrative Code.

Legal Authority for Rulemaking

This rulemaking is adopted under the authority provided in Iowa Code section 515F.37.

State or Federal Law Implemented

This rulemaking implements, in whole or in part, Iowa Code chapters 515, 515A and 515F.

Purpose and Summary

The amendment to rule 191—20.11(515) corrects language that was erroneously omitted when the chapter was rescinded and new Chapter 20 was adopted pursuant to Executive Order 10 (January 10, 2023). Insurers were previously exempt from filing rates for the lines of insurance listed in the rule. The amendment ensures that the exemption continues.

Public Comment and Changes to Rulemaking

Notice of Intended Action for this rulemaking was published in the Iowa Administrative Bulletin on April 17, 2024, as ARC 7884C. Public hearings were held on May 8, 2024, at 10 a.m.and 3 p.m.at 1963 Bell Avenue, Suite 100, Des Moines, Iowa. No one attended the public hearings. No public comments were received. No changes from the Notice have been made.

Reason for Waiver of Normal Effective Date

Pursuant to Iowa Code section 17A.5(2)"b"(1)(b), the Division finds that the normal effective date of this rulemaking, 35 days after publication, should be waived and the rulemaking made effective on May 22, 2024, because the corrected language restores the requirement that no form and rate filing by insurers is necessary for the exempted lines of insurance.

Adoption of Rulemaking

This rulemaking was adopted by Douglas Ommen, Iowa Insurance Commissioner, on May 22, 2024.

Fiscal Impact

This rulemaking has no fiscal impact to the State of Iowa.

Jobs Impact

After analysis and review of this rulemaking, no impact on jobs has been found.

Waivers

Any person who believes that the application of the discretionary provisions of this rulemaking would result in hardship or injustice to that person may petition the Division for a waiver of the discretionary provisions, if any, pursuant to 191—Chapter 4.

Review by Administrative Rules Review Committee

The Administrative Rules Review Committee, a bipartisan legislative committee which oversees rulemaking by executive branch agencies, may, on its own motion or on written request by any individual or group, review this rulemaking at its regular monthly meeting or at a special meeting. The Committee's meetings are open to the public, and interested persons may be heard as provided in Iowa Code section 17A.8(6).

Effective Date

This rulemaking became effective on May 22, 2024.

The following rulemaking action is adopted:

Item 1. Amend rule 191—20.11(515) as follows:

191—20.11(515) Exemption from form and rate filing requirements.

20.11(1) The following lines of insurance shall be exempt from the form and rate filing requirements of Iowa Code section 515.102:

a. Aircraft hull and aviation liability.

b. Difference-in-conditions.

c. Kidnap-ransom.

d. Manuscript policies and endorsements issued to not more than two insureds in Iowa.

e. Political risk.

f. Reinsurance.

g. Terrorism.

h. War risk.

i. Weather insurance.

20.11(2) No change.

[Filed Emergency After Notice 5/22/24, effective 5/22/24]

[Published 6/12/24]

Editor's Note: For replacement pages for IAC, see IAC Supplement 6/12/24.