House
File
632
H-1228
Amend
House
File
632
as
follows:
1
1.
Page
14,
after
line
21
by
inserting:
2
<
Sec.
___.
Section
515.125,
subsection
2,
Code
3
2015,
is
amended
to
read
as
follows:
4
2.
An
insurer
shall
not
fail
to
renew
a
policy
5
except
by
notice
to
the
insured
as
provided
in
this
6
chapter
.
A
notice
of
intention
not
to
renew
is
not
7
effective
unless
mailed
or
delivered
by
the
insurer
8
to
the
named
insured
at
least
thirty
days
prior
9
to
the
expiration
date
of
the
policy.
A
notice
of
10
intention
not
to
renew
is
not
required
if
the
insured
11
is
transferred
from
an
insurer
to
an
affiliate
for
12
future
coverage
as
a
result
of
a
merger,
acquisition,
13
or
company
restructuring
and
if
the
transfer
results
14
in
the
same
or
broader
coverage
insurance
company
15
admitted
in
Iowa
which
is
an
affiliate
of,
as
defined
16
in
section
521A.1,
the
transferring
insurer
and
all
of
17
the
following
conditions
are
met:
18
a.
The
transfer
does
not
result
in
an
interruption
19
in
coverage.
20
b.
The
rating
of
the
affiliate
from
the
A.M.
Best
21
company
or
a
substitute
rating
service
acceptable
to
22
the
commissioner,
is
the
same
or
better
than
the
rating
23
of
the
transferring
insurer.
24
c.
The
transfer
results
in
the
same
or
broader
25
coverage.
26
d.
Notice
of
the
transfer
is
delivered
to
the
27
insured
or
sent
by
first
class
mail
to
the
insured’s
28
last
known
address
not
less
than
thirty
days
prior
to
29
the
transfer.
The
notice
required
by
this
paragraph
is
30
not
required
in
the
event
that
the
insured
requests
or
31
consents
to
the
transfer.
32
e.
The
notice
of
transfer
provides
the
name
and
33
telephone
number
of
the
insured’s
insurance
producer,
34
agent,
or
agency,
if
any
.
35
Sec.
___.
Section
515.128,
subsection
3,
Code
2015,
36
is
amended
to
read
as
follows:
37
3.
This
section
applies
to
all
forms
of
commercial
38
property
and
casualty
insurance
written
pursuant
39
to
this
chapter
.
It
does
not
apply
if
the
insurer
40
has
offered
to
renew
or
if
the
insured
fails
to
pay
41
a
premium
due
or
any
advance
premium
required
by
42
the
insurer
for
renewal.
A
notice
of
nonrenewal
is
43
not
required
if
the
insured
is
transferred
from
an
44
insurer
to
an
affiliate
for
future
coverage
as
a
result
45
of
a
merger,
acquisition,
or
company
restructuring
46
and
if
the
transfer
results
in
the
same
or
broader
47
coverage
insurance
company
admitted
in
Iowa
which
48
is
an
affiliate
of,
as
defined
in
section
521A.1,
49
the
transferring
insurer
and
all
of
the
following
50
-1-
HF632.1485
(1)
86
av/nh
1/
2
#1.
conditions
are
met:
1
a.
The
transfer
does
not
result
in
an
interruption
2
in
coverage.
3
b.
The
rating
of
the
affiliate
from
the
A.M.
Best
4
company
or
a
substitute
rating
service
acceptable
to
5
the
commissioner,
is
the
same
or
better
than
the
rating
6
of
the
transferring
insurer.
7
c.
The
transfer
results
in
the
same
or
broader
8
coverage.
9
d.
Notice
of
the
transfer
is
delivered
to
the
10
insured
or
sent
by
first
class
mail
to
the
insured’s
11
last
known
address
not
less
than
forty-five
days
prior
12
to
the
transfer.
The
notice
required
by
this
paragraph
13
is
not
required
in
the
event
that
the
insured
requests
14
or
consents
to
the
transfer.
15
e.
The
notice
of
transfer
provides
the
name
and
16
telephone
number
of
the
insured’s
insurance
producer,
17
agent,
or
agency,
if
any
.
>
18
2.
By
renumbering
as
necessary.
19
______________________________
PETTENGILL
of
Benton
-2-
HF632.1485
(1)
86
av/nh
2/
2
#2.