2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 515 - INSURANCE OTHER THAN LIFE
515.48 - KINDS OF INSURANCE.

        515.48  KINDS OF INSURANCE.
         Any company organized under this chapter or authorized to do
      business in this state may:
         1.  Insure dwelling houses, stores and all kinds of buildings and
      household furniture, and other property against direct or indirect or
      consequential loss or damage, including loss of use or occupancy and
      the depreciation of property lost or damaged by fire, smoke, smudge,
      lightning and other electrical disturbances, collision, falls, wind,
      tornado, cyclone, volcanic eruptions, earthquake, hail, frost, snow,
      sleet, ice, weather or climatic conditions, including excess or
      deficiency of moisture, flood, rain, or drought, rising of the waters
      of the ocean or its tributaries, bombardment invasion, insurrection,
      riot, strikes, labor disturbances, sabotage, civil war or commotion,
      military or usurped power, any order of a civil authority made to
      prevent the spread of a conflagration, epidemic or catastrophe,
      vandalism or malicious mischief, and by explosion whether fire ensues
      or not, except explosion on risks specified in subsection 6 of this
      section, provided, however, that there may be insured hereunder the
      following:
         a.  Explosion of pressure vessels (not including steam boilers
      of more than fifteen pounds pressure) in buildings designed and used
      solely for residential purposes by not more than four families;
         b.  Explosion of any kind originating outside of the insured
      building or outside of the building containing the property insured;
      and
         c.  Explosion of pressure vessels which do not contain steam
      or which are not operated with steam coils or steam jackets; and also
      against loss or damage by insects or disease to farm crops or
      products, and loss of rental value of land used in producing such
      crops or products; and against accidental injury to sprinklers,
      pumps, water pipes, elevator tanks and cylinders, steam pipes and
      radiators, plumbing and its fixtures, ventilating, refrigerating,
      heating, lighting or cooking apparatus, or their connections, or
      conduits or containers of any gas, fluid or other substance; and
      against loss or damage to property of the insured caused by the
      breakage or leakage thereof; or by water, hail, rain, sleet or snow
      seeping or entering through water pipes, leaks or openings in
      buildings; and against loss of and damage to glass, including
      lettering and ornamentation thereon, and against loss or damage
      caused by the breakage of glass; and against loss or damage caused by
      railroad equipment, motor vehicles, airplanes, seaplanes, dirigibles
      or other aircraft.
         d.  Risks under a multiple peril nonassessable policy
      reasonably related to the ownership, use or occupancy of a private
      dwelling or dwellings.
         Loss by depreciation as herein referred to may include the cost of
      repair and replacement.
         2.  Insure the fidelity of persons holding places of private or
      public trust, or execute any bond or other obligation whenever the
      performance or refraining from any contract, act, duty or obligation
      is required or permitted by law to be made, given, or filed,
      including all bonds in criminal causes, and insure the maker, drawer,
      drawee, or endorser of checks, drafts, bills of exchange, or other
      commercial paper against loss by reason of any alteration of such
      instruments.
         3.  Insure the safekeeping of books, papers, moneys, stocks, bonds
      and all kinds of personal property from loss, damage or destruction
      from any cause, and receive them on deposit.
         4.  Insure against loss or damage by theft, injury, sickness, or
      death of animals and to furnish veterinary service.
         5. a.  Insure any person, the person's family or dependents,
      against bodily injury or death by accident, or against disability on
      account of sickness, or accident, including the granting of hospital,
      medical, surgical and sick care benefits, but such benefits shall not
      include the furnishing or replacing in kind of whole human blood or
      blood products of any kind; however, this provision shall not
      prohibit payments of indemnity for human blood or blood products.  An
      insurer may contract with health care services providers and offer
      different levels of benefits to policyholders based upon the provider
      contracts.
         b.  Insure against legal liability, and against loss, damage,
      or expense incident to a claim of such liability, arising out of the
      death or injury of any person, or arising out of injury to the
      economic interests of any person as the result of error or negligence
      in rendering expert, fiduciary or professional service.
         c.  Insure against loss or damage to property caused by the
      accidental discharge or leakage of water from automatic sprinkler
      system and against loss or damage by water or other fluid or
      substance to any property resulting from the breakage or leakage of
      other apparatus or of water pipes or other conduits or containers or
      resulting from casual water entering into cracks or openings in
      buildings or by seepage through building walls, but not including
      loss or damage resulting from flood; and including insurance against
      accidental injury of such sprinklers, pumps, apparatus, conduits or
      containers.
         d.  Insure against loss in consequence of accidents or
      casualties of any kind to employees, including workers' compensation,
      or to persons or property resulting from any act of an employee, or
      any accident or casualty to person or property, or both, occurring in
      or connected with the transaction of insured's business, or from the
      operation of any machinery connected therewith; or to persons or
      property for which loss the insured is legally liable including an
      obligation of the insurer to pay medical, hospital, surgical, funeral
      or other benefits irrespective of legal liability of insured.
         e.  Insure against liability for loss or expense arising or
      resulting from accidents occurring by reason of the ownership,
      maintenance, or use of automobiles or other conveyances including
      aircraft, resulting in personal injuries or death, or damage to
      property belonging to others, or both, and for damages to assured's
      own automobile or aircraft when sustained through collision with
      another object, and insure the assured's own automobile or aircraft
      against loss or damage, including the loss of use thereof, by fire,
      lightning, windstorm, tornado, cyclone, hail, burglary or theft,
      vandalism, malicious mischief, or the wrongful conversion, disposal,
      or concealment thereof, or any one or more of such hazards, whether
      said automobile or aircraft is held under conditional sale, contract,
      or subject to chattel mortgages.
         f.  Insure against loss of or damage to any property of the
      insured resulting from collision of any object with such property.
         6.  Insure against loss or injury to person or property, or both,
      and against loss of rents or use of buildings, and other property
      growing out of explosion or rupture of boilers, pipes, flywheels,
      engines, pressure containers, machinery, and similar apparatus of any
      kind including equipment used for creating, transmitting, or applying
      power, light, heat, steam, air conditioning or refrigeration.
         7.  Insure against loss or damage resulting from burglary or
      robbery, or attempt thereat, or larceny.
         8.  Insure or guarantee and indemnify merchants, traders, and
      those engaged in business and giving credit from loss and damage by
      reason of giving and extending credit to their customers and those
      dealing with them, which business shall be known as credit insurance.
      Such insurance may cover losses, less a deduction of an agreed
      percentage, not to exceed ten percent, representing anticipated
      profits, and a further deduction not to exceed thirty-three and
      one-third percent, on losses on credits extended to risks who have
      inferior ratings, and less an agreed deduction for normal loss.
         Such coinsurance percentages shall be deducted in advance of the
      agreed normal loss from the gross covered loss sustained by the
      insured.
         9.  Insure vessels, boats, cargoes, goods, merchandise, freights,
      specie, bullion, jewelry, jewels, profits, commissions, bank notes,
      bills of exchange, and other evidence of debt, bottomry, and
      respondentia interest and every insurance appertaining to or
      connected with any or all risks or perils of navigation, transit, or
      transportation, including war risks, on or under any seas or other
      waters, on land or in the air, or while being assembled, packed,
      crated, baled, compressed or similarly prepared for shipment or while
      awaiting the same or during any delays, storage, transshipment, or
      reshipment, incident thereto, including marine builder's risks; and
      for loss or damage for which the insured is legally liable to persons
      or property in connection with or appertaining to marine, inland
      marine, transit, or transportation insurance, including liability for
      loss of or damage arising out of or in connection with the
      construction, repair, maintenance, storage or use of the subject
      matter of such insurance; and insure against loss or damage to
      silverware, musical instruments, furs, garments, fine arts, precious
      stones, jewels, jewelry, gold, silver, and other precious metals or
      valuable items whether used in business, transportation, trade or
      otherwise; and insure automobiles, airplanes, seaplanes, dirigibles
      or other aircraft, whether stationary or being operated under their
      own power, which include all or any of the hazards of fire,
      explosion, transportation, collision, loss by legal liability for
      damage to property resulting from the maintenance and use of
      automobiles, airplanes, seaplanes, dirigibles, or other aircraft, and
      loss by burglary or theft, vandalism, malicious mischief, or the
      wrongful conversion, disposal or concealment of automobiles whether
      held under conditional sale, contract, or subject to chattel
      mortgage, or any one or more of such hazards, including insurance
      against loss by reason of bodily injury to the person including
      medical, hospital and surgical expense irrespective of legal
      liability of insured.
         10.  Insure any additional risk not specifically included within
      any of the foregoing classes, which is a proper subject for
      insurance, is not prohibited by law or contrary to sound public
      policy, and which, after public notice and hearing, is specifically
      approved by the commissioner of insurance, except title insurance or
      insurance against loss or damage by reason of defective title,
      encumbrances or otherwise.  When such additional kind of insurance is
      approved by the commissioner, the commissioner shall designate within
      which classification of risks provided for in section 515.49 it shall
      fall.  

         Section History: Early Form

         [C73, § 1132; C97, § 1709; S13, § 1709; C24, 27, 31, 35, 39, §
      8940; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 515.48]
      

         Section History: Recent Form

         85 Acts, ch 239, §6
         Referred to in § 321.1, 432.1, 432A.1, 508C.3, 515.120, 517.1,
      535.8, 811.3
         Action on liability policy, chapter 516