Iowa HSB701 amends insurance fraud investigation protocols and financial responsibility requirements for adjusters.

Iowa HSB701 modifies the investigation of insurance fraud related to adjusters, appraisers, and umpires. It eliminates the requirement for adjusters to secure a surety bond before obtaining a license, instead requiring evidence of financial responsibility as prescribed by the commissioner. 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 evidence of financial responsibility terminates.

Iowa HSB701 amends insurance fraud investigation protocols and financial responsibility requirements for adjusters.

Iowa HSB701 modifies the investigation of insurance fraud related to adjusters, appraisers, and umpires. It eliminates the requirement for adjusters to secure a surety bond before obtaining a license, instead requiring evidence of financial responsibility as prescribed by the commissioner. 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 evidence of financial responsibility terminates.