This bill modifies insurance fraud investigation protocols and financial responsibility requirements for adjusters in Iowa.

The bill updates the procedures for investigating insurance fraud involving adjusters, appraisers, and umpires in Iowa. It removes the requirement for adjusters to secure a surety bond as evidence of financial responsibility, instead allowing the commissioner to prescribe the form and manner of financial responsibility. The bill also allows the insurance division to request evidence of financial responsibility at any time and mandates that adjusters notify the division if their financial responsibility evidence terminates. The bill takes effect upon enactment.

This bill modifies insurance fraud investigation protocols and financial responsibility requirements for adjusters in Iowa.

The bill updates the procedures for investigating insurance fraud involving adjusters, appraisers, and umpires in Iowa. It removes the requirement for adjusters to secure a surety bond as evidence of financial responsibility, instead allowing the commissioner to prescribe the form and manner of financial responsibility. The bill also allows the insurance division to request evidence of financial responsibility at any time and mandates that adjusters notify the division if their financial responsibility evidence terminates. The bill takes effect upon enactment.