2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 516E - MOTOR VEHICLE SERVICE CONTRACTS
516E.11 - RECORDS -- EXPLANATION OF REASONS FOR DENIAL OF CLAIMS.

        516E.11  RECORDS -- EXPLANATION OF REASONS FOR DENIAL
      OF CLAIMS.
         1.  A provider, service company, or third-party administrator
      shall keep accurate records concerning transactions regulated under
      this chapter.
         a.  Records of a provider, service company, or third-party
      administrator shall include all of the following:
         (1)  Copies of each type of service contract issued or sold.
         (2)  The name and address of each service contract holder.
         (3)  Claim files which shall contain, at a minimum, the dates,
      amounts, and descriptions of all receipts, claims, and expenditures
      related to service contracts.
         (4)  Copies of all materials relating to claims which have been
      denied.
         b.  A provider, service company, or third-party administrator
      shall retain all required records pertaining to a service contract
      holder for at least two years after the specified period of coverage
      has expired.  A provider, service company, or third-party
      administrator discontinuing business in this state shall maintain its
      records until the provider, service company, or third-party
      administrator furnishes the commissioner satisfactory proof that the
      provider, service company, or third-party administrator has
      discharged all obligations to contract holders in this state.
         c.  A provider, service company, or third-party administrator
      shall make all records concerning transactions regulated under the
      chapter available to the commissioner for the purpose of examination.

         d.  A provider, service company, or third-party administrator
      may keep all records required under this chapter in an electronic
      form.  If an administrator maintains records in a form other than a
      printed copy, the records shall be accessible from a computer
      terminal available to the commissioner and shall be capable of
      duplication to a legible printed copy.
         2.  A provider, service company, or third-party administrator
      shall promptly deliver a written explanation to the service contract
      holder, describing the reasons for denying a claim or for the offer
      of a compromise settlement, based on all relevant facts or legal
      requirements and referring to applicable provisions of the service
      contract.
         3.  A provider, service company, or third-party administrator
      shall keep accurate records concerning transactions regulated under
      this chapter, including a list of the locations where service
      contracts are marketed, sold, offered for sale, or performed.  

         90 Acts, ch 1145, §9
         C91, §321I.12
         94 Acts, ch 1031, §3; 98 Acts, ch 1189, §6; 2000 Acts, ch 1147,
      §8--10, 15
         C2001, §516E.11
         2005 Acts, ch 70, §35