Iowa Code

Iowa Code § 515B.1 (2026)

Scope

✓ current as of July 2026

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This chapter shall apply to all kinds of direct insurance authorized to be written by an insurer licensed to operate in this state under chapter 515 or chapter 520, but shall not be applicable to the following:

1. Life, annuity, health, or disability insurance.

2. Mortgage guaranty, financial guaranty, residual value, or other forms of insurance offering protection against investment risks.

3. Fidelity or surety bonds, or any other bonding obligations.

4. Credit insurance, vendors’ single interest insurance, or collateral protection insurance or any similar insurance protecting the interests of a creditor arising out of a creditor-debtor transaction.

5. Insurance warranties or service contracts, including insurance that provides for the repair, replacement, or service of goods or property, or indemnification for repair, replacement, or service, for the operational or structural failure of the goods or property due to a defect in materials, workmanship, or normal wear and tear, or provides reimbursement for the liability incurred by the issuer of agreements or service contracts that provide such benefits.

6. Title insurance.

7. Ocean marine insurance.

8. A transaction or combination of transactions between a person, including affiliates of such person, and an insurer, including affiliates of such insurer, which involves the transfer of investment or credit risk unaccompanied by transfer of insurance risk.

9. Insurance provided by, guaranteed by, or reinsured by government. [C71, 73, 75, 77, 79, 81, §515B.1] 86 Acts, ch 1184, §2; 88 Acts, ch 1112, §504; 97 Acts, ch 186, §13; 2001 Acts, ch 69, §31; 2009 Acts, ch 145, §24 \n

Notes of Decisions

Cited in 4 cases, 1952–1991 · leading case: Iowa Contractors Workers' Comp. Grp. v. Iowa Ins. Guar. Ass'n, 437 N.W.2d 909 (Iowa 1989).

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Iowa Contractors Workers' Comp. Grp. v. Iowa Ins. Guar. Ass'n, 437 N.W.2d 909 (Iowa 1989). · cites it 13× “Iowa Code § 515B.1. “Direct insurance” is not defined in the Act.”

In Re Mission Ins. Co., 816 P.2d 502 (N.M. 1991). “Compare NMSA 1978, §§ 59A-43-1 with Iowa Code Ann. § 515B.1 (West 1989) and Fla.”

Sands v. Iowa Mut. Ins. Co. of De Witt, 55 N.W.2d 572 (Iowa 1952). · cites it 2× “Section 515B.1, Code, 1950, states the purpose of chapter 515B, entitled “Fire and Marine Insurance Rates”, is “to promote the public welfare by regulating insurance rates to the end that they shall not be excessive, inadequate or unfairly discriminatory * * *.”

Levi Strauss & Co. v. New Mexico Prop. & Cas. Ins. Guar. Ass'n, 816 P.2d 502 (N.M. 1991). “Compare NMSA 1978, §§ 59A-43-1 with Iowa Code Ann. § 515B.1 (West 1989) and Fla.”

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