2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 510A - BUSINESS PRODUCER CONTROLLED PROPERTY AND CASUALTY INSURERS
510A.2 - DEFINITIONS.

        510A.2  DEFINITIONS.
         As used in this chapter unless the context otherwise requires:
         1.  "Accredited state" means a state in which the insurance
      department or regulatory agency has qualified as meeting the minimum
      financial regulatory standards promulgated and established by the
      national association of insurance commissioners.
         2.  "Control" or "controlled" has the meaning ascribed in
      section 521A.1, subsection 3.
         3.  "Controlled insurer" means a licensed insurer that is
      controlled, directly or indirectly, by an insurance producer.
         4.  "Controlling producer" means an insurance producer who,
      directly or indirectly, controls an insurer.
         5.  "Independent casualty actuary" means a casualty actuary
      who is a member of the American academy of actuaries and who is not
      an employee, principal, the direct or indirect owner of, affiliated
      with, or in any way controlled by the insurer or insurance producer.

         6.  "Insurance producer" means a person required to be
      licensed under the laws of this state to sell, solicit, or negotiate
      insurance.
         7.  "Licensed insurer" or "insurer" means any person duly
      licensed to transact a property and casualty insurance business in
      this state.  The following are not licensed property and casualty
      insurers for the purposes of this chapter:
         a.  All risk retention groups as defined in the Superfund
      Amendments Reauthorization Act of 1986, Pub. L. No. 99-499, 100 Stat.
      1613 (1986) and the Risk Retention Act, 15 U.S.C.  § 3901 et seq.
      (1982 & Supp. 1986), or chapter 515E.
         b.  All residual market pools and joint underwriting
      authorities or associations.
         c.  All captive insurers.  For the purposes of this chapter,
      captive insurers are insurance companies owned by another
      organization whose exclusive purpose is to insure risks of the parent
      organization and affiliated companies or, in the case of groups and
      associations, insurance organizations owned by the insureds whose
      exclusive purpose is to insure risks of any group and association
      members and any affiliates.  

         91 Acts, ch 26, § 11; 92 Acts, ch 1117, § 36; 2003 Acts, ch 91,
      §13--15
         Referred to in § 510.6, 510A.3