HF 2100: Relating to reinsurance requirements for county and state mutual insurance associations

What it does

This bill relates to reinsurance requirements for county and state mutual insurers. Under current law, a county mutual insurance association (county association) may reinsure its coverages written under Code chapter 518 with any association or company (company) licensed in the state and authorized to write insurance enumerated in Code section 518.11. A state mutual insurance association (state association) may insure its coverages written under Code chapter 518A with any company licensed in the state and authorized to write insurance enumerated in Code section 518A.1. Under the bill, a county association and a state association may reinsure coverages with a company that is in compliance with Code chapter 521B, rather than one licensed in the state.

House subcommittee · named January 9, 2024

• Rep. Mike Vondran (R) · mike.vondran@legis.iowa.gov
• Rep. Brian K. Lohse (R) · brian.lohse@legis.iowa.gov
• Rep. J.D. Scholten (D) · j.d.scholten@legis.iowa.gov

Lobbying · 5 for, 0 against

For: Independent Insurance Agents of Iowa; Iowa Insurance Associates; Iowa Insurance Division; Mutual Insurance Association of Iowa; National Association of Mutual Insurance Companies (NAMIC)

In plain words

1. January 9, 2024Filed in the House and sent to the Commerce committee · as HSB 537
2. January 9, 2024House subcommittee named: Vondran, Lohse and Scholten · as HSB 537
3. January 17, 2024Subcommittee recommended passing it · as HSB 537
4. January 18, 2024Approved by the House committee · as HSB 537
5. January 22, 2024Filed in the House
6. January 22, 2024Approved by the House committee, and given a new number: HF 2100 · as HSB 537
7. February 19, 2024Passed the House, 91–0
8. February 20, 2024Arrived in the Senate
9. March 18, 2024Took the place of SF 2293 on the Senate floor (the same legislation)
10. March 18, 2024Passed the Senate, 50–0
11. April 10, 2024Sent to the Governor
12. April 10, 2024Signed into law