Iowa Code » Chapter 515 — INSURANCE OTHER THAN LIFE
Iowa Code

Iowa Code § 515.49 (2026)

Limitation on risks

✓ current as of July 2026
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A company shall not expose itself to loss on any one risk or hazard to an amount exceeding ten percent of its surplus to policyholders unless one of the following applies:

1. The excess is reinsured in some other good and reliable company licensed to sell insurance in this state.

2. The excess is reinsured by a group of individual unincorporated insurers who are authorized to sell insurance in at least one state of the United States and who possess assets which are held in trust for the benefit of the American policyholders in the sum of not less than fifty million dollars, and a certificate of such reinsurance shall be furnished to the insured.

3. The excess is reinsured with a company which has, with respect to the ceding insurer, created a trust fund, made a deposit, or obtained letters of credit, on terms satisfactory to the commissioner. [C73, §1132; C97, §1710; S13, §1710; C24, 27, 31, 35, 39, §8941; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.49] 88 Acts, ch 1112, §403 Referred to in §515.48, 521.13\n\n 515.50 Loans — reinsurance. Repealed by 2007 Acts, ch 152, §84. \n

Notes of Decisions
Cited in 1 case, 1992–1992 · leading case: Ardi Exch. v. Valley Nat'l Bank, 493 N.W.2d 862 (Iowa 1992).
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Ardi Exch. v. Valley Nat'l Bank, 493 N.W.2d 862 (Iowa 1992). “See Iowa Code § 515.49 (1991). Arabian was attempting to assume control of Victoria in an effort to establish itself in the United States.”
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