Iowa Code

Iowa Code § 507B.3 (2026)

Unfair competition or unfair and deceptive acts or practices prohibited

✓ current as of July 2026

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A person shall not engage in this state in any trade practice which is defined in this chapter as, or determined pursuant to section 507B.6 to be, an unfair method of competition, or an unfair or deceptive act or practice in the business of insurance.

1. A person who violates a provision in chapter 321B shall be deemed to have committed an unfair trade practice under this chapter.\n\nTue Dec 09 22:05:57 2025 Iowa Code 2026, Chapter 507B (40, 1) §507B.3, INSURANCE TRADE PRACTICES 2\n\n 2. A person who violates a provision in chapter 508E shall be deemed to have committed an unfair trade practice under this chapter.

3. The issuance of a qualified charitable gift annuity as provided in chapter 508F does not constitute a trade practice in violation of this chapter. [C58, 62, 66, 71, §507B.3, 507B.5; C73, 75, 77, 79, 81, §507B.3] 2001 Acts, ch 28, §1; 2003 Acts, ch 91, §5; 2004 Acts, ch 1110, §21; 2008 Acts, ch 1123, §12; 2008 Acts, ch 1155, §20; 2025 Acts, ch 58, §9, 10 Referred to in §515E.4, 515K.5 Subsection 1 applies to insurance policies issued or renewed on or after July 1, 2025; 2025 Acts, ch 58, §10 NEW subsection 1 and former subsections 1 and 2 renumbered as 2 and 3 \n

Notes of Decisions

Cited in 4 cases, 1978–2006 · leading case: Home Fed. Sav. & Loan Ass'n of Algona, Iowa v. Ins. Dep't of Iowa & Herbert W. Anderson, Comm'r of Ins., 571 F.2d 423 (8th Cir. 1978).

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Home Fed. Sav. & Loan Ass'n of Algona, Iowa v. Ins. Dep't of Iowa & Herbert W. Anderson, Comm'r of Ins., 571 F.2d 423 (8th Cir. 1978). · cites it 2× “5 The Commissioner, however, denied Home Federal’s motion, holding that it was engaged in the business of insurance for the purposes of Iowa Code §§ 507B.3 6 and 507B.5 (1975), 7 that it was subject to Iowa’s insurance law, and that the application of Iowa’s law was *425 not in…”

Van Natta v. Sara Lee Corp., 439 F. Supp. 2d 911 (N.D. Iowa 2006). · cites it 3× “While the plaintiffs do not delineate with any sort of particularity the code provision their claims are premised upon, it is a logical assumption, based on the facts and wording of the complaint, that they intend to assert a claim under Iowa Code § 507B.3, which prohibits…”

Terra Indus., Inc. v. Commonwealth Ins. Co. of Am., 990 F. Supp. 679 (N.D. Iowa 1997). · cites it 4× “17, 1995), a case upon which Terra relies, it does appear that Terra is attempting to state a separate cause of action based upon violations of Iowa Code Ch.”

Seeman v. Liberty Mut. Ins. Co., 322 N.W.2d 35 (Iowa 1982). “Moreover, the Act expressly invests the insurance commissioner with specified administrative powers: to examine and investigate the affairs of every person engaged in the insurance business in this state, § 507B.3, The Code; to issue charges and hold hearings concerning alleged…”

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