HF 316: Relating to value-added products or services offered by insurers or producers

What it does

This bill relates to value-added products or services offered by insurers or producers.4, if the product or service that is offered relates to the policy that is offered and is designed primarily to accomplish at least one of the criteria detailed in the bill. The cost to the insurer of offering the product or service to a customer must be reasonable in comparison to the customer’s premiums and insurance coverage for the policy class. “Customer” is defined in the bill as a policyholder, potential policyholder, certificate holder, potential certificate holder, an insured, a potential insured, or an applicant.

House subcommittee · named February 7, 2023

• Rep. Martin L. Graber (R)
• Rep. J.D. Scholten (D) · j.d.scholten@legis.iowa.gov
• Rep. Hans C. Wilz (R) · hans.wilz@legis.iowa.gov

Lobbying · 6 for, 0 against

For: American Property Casualty Insurance Association (APCIA); Grinnell Mutual Reinsurance Company; Iowa Insurance Institute; National Association of Mutual Insurance Companies (NAMIC); Nationwide Mutual Ins. Co.; State Farm Insurance

In plain words

1. February 7, 2023Filed in the House and sent to the Commerce committee · as HSB 135
2. February 7, 2023House subcommittee named: Graber, Scholten, Wilz and H · as HSB 135
3. February 9, 2023Subcommittee recommended passing it · as HSB 135
4. February 14, 2023Approved by the House committee · as HSB 135
5. February 15, 2023Filed in the House
6. February 15, 2023Approved by the House committee, and given a new number: HF 316 · as HSB 135
7. February 22, 2023Passed the House, 95–0
8. February 23, 2023Sent to the Senate Commerce committee
9. March 22, 2023Took the place of SF 409 on the Senate floor (the same legislation)
10. March 22, 2023Passed the Senate, 49–1
11. April 26, 2023Sent to the Governor
12. April 27, 2023Signed into law