191—21.1 (515) Definitions. In addition to the definitions provided in Iowa Code chapters 515 and 515E, the following definitions shall apply to this chapter, unless the context clearly requires otherwise:
“Division” means the Iowa insurance division.
“Excess and surplus lines insurance” means surplus lines insurance.
“NAIC UCAA” means a National Association of Insurance Commissioners Uniform Certificate of Authority Application form.
“Nonadmitted insurer” means an insurer that is not licensed by or admitted to do business in this state.
“Place” means obtaining insurance for an insured with a specific insurer.
“Producer” means the person who places the policy with the insurance company. The producer may be either a resident or nonresident of this state and must be licensed in Iowa to sell insurance classified as excess and surplus lines.
“Qualified surplus lines carrier” means a nonadmitted insurer that the division has determined is qualified to provide surplus lines coverage as set forth in Iowa Code section 515.147, but in no event shall “qualified surplus lines carrier” include an insurer described in Iowa Code section 515.148.
“Surplus lines insurance” means insurance on a risk or a part of a risk for which there is no market available through the original insurance producer in Iowa; therefore, the risk needs to be placed with a qualified surplus lines carrier, in accordance with the provisions of Iowa Code chapter 515 and this chapter.