510.21 Certificates — registration and renewal.
1. A person shall not act as or represent oneself to be a third-party administrator in this state, other than an adjuster licensed in this state for the kinds of business for which the person is acting as a third-party administrator, unless the person holds a current certificate of registration as a third-party administrator issued by the commissioner of insurance. A certificate of registration as a third-party administrator shall be renewed every three years. Failure to hold a current certificate of registration shall subject a third-party administrator to the sanctions set out in section 507B.7. An application for a certificate of registration shall be accompanied by a filing fee of one hundred dollars. A certificate of registration shall be issued by the commissioner to a third-party administrator unless the commissioner determines that the third-party administrator is not competent, trustworthy, financially responsible, of good personal and business reputation, or has had an application for an insurance license denied for cause within the preceding five years.
2. If the commissioner denies an application for registration or renewal, a written notice that specifies the reasons for the denial or nonrenewal shall be provided to the applicant. Pursuant to chapter 17A, upon the applicant’s request, the commissioner shall grant the applicant a hearing on the denial or nonrenewal.
89 Acts, ch 227, §14; 2006 Acts, ch 1117, §47; 2007 Acts, ch 152, §56; 2008 Acts, ch 1074, §2; 2021 Acts, ch 76, §150; 2021 Acts, ch 181, §9
Referred to in §509A.15, 510.10, 510.22, 513D.1
See Code editor’s note on simple harmonization at the beginning of this Code volume
Section amended
Structure Iowa Code
Chapter 510 - MANAGING GENERAL AGENTS AND THIRD-PARTY ADMINISTRATORS
Section 510.2 - Contracts with managing general agents.
Section 510.3 - Liability of managing general agents.
Section 510.4 - Licensure required — bond.
Section 510.5 - Required contract provisions — limitations.
Section 510.5A - Unfair competition or unfair and deceptive acts or practices prohibited.
Section 510.6 - Duties of insurers.
Section 510.7 - Examination authority.
Section 510.8 - Penalties and liabilities.
Section 510.12 - Written agreement necessary.
Section 510.13 - Payment to third-party administrator.
Section 510.14 - Maintenance of information.
Section 510.15 - Approval of advertising.
Section 510.16 - Underwriting provision.
Section 510.17 - Premium collection.
Section 510.18 - Payment of claims.
Section 510.19 - Claim adjustment and settlement.
Section 510.20 - Notification required.
Section 510.21 - Certificates — registration and renewal.