Iowa Administrative Code 191, Chapter 15: Unfair Trade Practices

What this document is

Iowa Administrative Code 191, Chapter 15 - Unfair Trade Practices is a regulation published by Iowa Insurance Division; published by the Iowa Legislative Services Agency (legis.iowa.gov). It is one of the Iowa documents that insurance license exam questions are written from, including iowa property & casualty, iowa personal lines practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• Iowa Admin. Code r. 191-15.8(3)(d) (Producer responsibilities, additional fees)

  “Producers shall not charge an additional fee for services that are customarily associated with the solicitation, negotiation or servicing of policies. This prohibition shall not apply to assigned risk policies and commercial property and casualty policies.”

• Iowa Admin. Code r. 191-15.8(3)(c) (Producer responsibilities, fee agreement)

  “An insurance producer shall not charge fees other than commissions unless such fees are based upon a written agreement signed by the client in advance of the performance of the services under the agreement. A copy of the agreement must be provided to the client at the time the agreement is signed...”

• Iowa Admin. Code r. 191-15.41(3) (Claims settlement guidelines for property and casualty insurance, follow-up letters)

  “If the investigation remains incomplete, the insurer shall, 45 days from the initial notification and every 45 days thereafter, send to the claimant a letter setting forth the reasons additional time is needed for investigation.”

• Iowa Admin. Code r. 191-15.45(2) (Aftermarket crash parts, like kind and quality)

  “An insurer shall not require the use of aftermarket crash parts in the repair of an automobile unless the aftermarket crash part is certified by a nationally recognized entity to be at least equal in kind and quality to the original equipment manufacturer part in terms of fit, quality and...”

• Iowa Admin. Code r. 191-15.10(1) (Notice regarding uninsured and underinsured coverage)

  “Uninsured/underinsured coverage does not cover damage done to your vehicle. It provides benefits only for bodily injury caused by an uninsured or underinsured motorist. If you wish to be insured for damage done to your vehicle, you must have collision coverage.”

• Iowa Admin. Code r. 191-15.41(7) (Producer may not conceal pertinent benefits from a first-party claimant)

  “No producer shall conceal from a first-party claimant benefits, coverages or other provisions of any insurance policy or insurance contract when such benefits, coverages or other provisions are pertinent to a claim.”

• Iowa Admin. Code r. 191-15.44(1)b (Replacement cost; nonmatching items)

  “When a loss requires replacement of items and the replaced items do not match in quality, color or size, the insurer shall replace as much of the item as is necessary to result in a reasonably uniform”

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Questions about this source

More Iowa sources

• Iowa Code s. 507B.4: Unfair methods of competition and unfair or deceptive acts definedState statute
• Iowa Code ch. 522B - Licensing of Insurance Producers (ss. 522B.1-522B.18, the WHOLE chapter)State statute
• Iowa Code ch. 507B - Insurance Trade Practices (ss. 507B.1-507B.14, the WHOLE chapter, including 507B.4A, 507B.5, 507B.6A, 507B.7 and 507B.12)State statute
• Iowa Code ch. 508: Life insurance companies - standard policy provisionsState statute
• Iowa Code Chapter 514A - Accident and Health Insurance (Secs. 514A.1-514A.15)State statute
• Iowa Insurance Content OutlinesCandidate handbook or exam outline
• Iowa Insurance Licensing Candidate HandbookCandidate handbook or exam outline
• Iowa Administrative Code 191, Chapter 10 - Insurance Producer Licenses and Limited LicensesRegulation