Iowa Admin. Code r. 191-15.84

Current through Register Vol. 47, No. 10, November 13, 2024

Rule 191-15.84 - Insurer duties

(1) Each insurer shall establish a system to verify which of its appointed insurance producers have completed one training course on indexed products as required in this division.

(2) An insurer shall verify that a producer has completed the required indexed products training before allowing the producer to sell an indexed product for that insurer.

(3) For insurance producers under contract with or employed by a broker-dealer, general agent or independent agency, an insurer may enter into a contract with the broker-dealer, general agent or independent agency to establish and maintain a system of verification as required by subrule 15.84(1) with respect to those insurance producers. In such circumstances, the insurer shall make reasonable inquiry to ensure that the broker-dealer, general agent or independent agency is performing the functions required under subrules 15.84(1) and 15.84(2).

Iowa Admin. Code r. 191-15.84

Adopted by IAB March 20, 2024/Volume XLVI, Number 19, effective 4/24/2024