Iowa Admin. Code r. 191-39.33

Current through Register Vol. 47, No. 13, December 25, 2024

Rule 191-39.33 - Notice of cancellation, nonrenewal or termination of long-term care insurance

(1)Purpose and definitions.

a.Purpose. The purpose of this rule is to clarify the authorized methods of delivery for notices of cancellation, nonrenewal or termination by an insurer, so as to implement the various policyholder protections intended by Iowa Code section 514G111. and rule 191-3922. (514G).

b.Definitions. As used in Iowa Code section 505B1. and this rule:

"Commissioner " means the Iowa insurance commissioner or insurance division.

"Notice of cancellation, nonrenewal or termination" means:

1. Notice of an insurance company's termination of an insurance policy at the end of a term or before the termination date;

2. Notice of an insurance company's decision or intention not to renew a policy; and

3. For purposes of notices required by Iowa Code section 514G111. and rule 191-3922. (514G), at a minimum, an insurance company's notice of lapse or termination of a long-term care insurance policy.

(2)Scope. This rule shall apply to all insurance companies holding a certificate of authority to transact the business of insurance under the provisions of Iowa Code chapter 508 or 515.

(3)Delivery. For any notice of cancellation, nonrenewal or termination by an insurer under Iowa Code section 514G111. and rule 191-3922. (514G) to be effective, an insurer must, within the time frame established by law, deliver the notice to the person to whom notice is required to be provided either in person or by mail through the U.S. Postal Service to the last-known address of the person to whom notice is required to be provided. The use of U.S. Postal Service Intelligent Mail® fulfills any requirement in Iowa Code section 514G111. and rule 191-3922. (514G) for certified mail or certificate of mailing as proof of mailing.

(4)

Electronic transmissions. Notwithstanding the requirements of subrule 39.33(3), if an insurer receives, pursuant to 191-subrule 4.24(2), approval from the commissioner of a manner of electronic delivery of a notice of cancellation, nonrenewal or termination of a policy, the approved manner shall satisfy the notice requirements of Iowa Code section 514G.111 and rule 191-3922. (514G).

This rule is intended to implement Iowa Code chapter 505B.

Iowa Admin. Code r. 191-39.33

Amended by IAB May 27, 2015/Volume XXXVII, Number 24, effective 7/1/2015

Amended by IAB February 17, 2016/Volume XXXVIII, Number 17, effective 3/23/2016