2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 519A - MEDICAL MALPRACTICE INSURANCE
519A.3 - TEMPORARY JOINT UNDERWRITING ASSOCIATION.

        519A.3  TEMPORARY JOINT UNDERWRITING ASSOCIATION.
         1.  A temporary joint underwriting association is created,
      consisting of all insurers authorized to write and engaged in writing
      on a direct basis within this state liability insurance, including
      insurers covering such peril in multiple peril policies. Every such
      insurer shall be a member of the association and shall remain a
      member as a condition of its authority to continue to write liability
      insurance in this state.
         2.  The purpose of the association shall be to provide, for a
      period not exceeding two years, a market for medical malpractice
      insurance on a self-supporting basis without subsidy from its
      members.
         3.  The association shall not commence underwriting operations for
      health care providers until the commissioner, after notice and
      opportunity for hearing, has determined that medical malpractice
      insurance is not available at a reasonable cost for a specific type
      of licensed health care provider in the voluntary market. Upon such
      determination the association shall be authorized to issue policies
      of medical malpractice insurance for such specific type of health
      care provider but need not be the exclusive agency through which such
      insurance may be written on a primary basis in this state.
         If the commissioner determines at any time that medical
      malpractice insurance can be made available in the voluntary market
      at a reasonable price for any specific type of licensed health care
      provider, the association shall thereby cease underwriting medical
      malpractice insurance for that type of licensed health care provider.

         4.  The association shall, subject to the terms and conditions of
      sections 519A.2 to 519A.13, have and exercise the following powers on
      behalf of its members:
         a.  To issue, or to cause to be issued, policies of insurance
      to applicants, including incidental coverages and subject to limits
      as specified in the plan of operation but not to exceed one million
      dollars for each claimant under one policy and three million dollars
      for all claimants under one policy in any one year.
         b.  To underwrite such insurance and to adjust and pay losses
      with respect thereto, or to appoint service companies to perform
      those functions.
         c.  To assume reinsurance from its members.
         d.  To cede reinsurance.  

         [C77, 79, 81, § 519A.3]
         Referred to in § 519A.1, 519A.2, 519A.4, 519A.5, 519A.10, 519A.13