Bills › 90th General Assembly
SSB 3083
Topics:Insurance
Where it is now
- Done: IntroducedJanuary 17, 2024
- Done: SubcommitteeJanuary 17, 2024
- Done: Senate committeeFebruary 8, 2024
- Skipped: Passes the SenateContinued as SF 2293
- Next: House committee
- Next: Passes the House
- Next: To the Governor
- Next: Signed into law
Became SF 2293 → Its progress continues under the new number. Go to SF 2293 What’s a funnel?
What’s in it
AI summary Currently, county and state mutual insurance associations can only buy reinsurance from companies licensed in Iowa. This change would allow these associations to buy reinsurance from companies that follow specific federal rules instead.1
Read the official explanation
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.
Senate subcommittee
Named January 17, 2024. On February 6, 2024 it recommended passage. [].
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
Iowa Code it changes
Lobbying
5 for · 0 against · 8 undecided · Who →
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90th General Assembly