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2004 Summary of New State Laws - Iowa

Issue

Bill #

Bill Description

Insurance Scoring

SB 2257

Adopts language similar to the NCOIL model relative to the use of credit information by property and casualty insurers for underwriting or rating purposes. Effective 7/1/04.

Medical Malpractice

SR 164

Requests the insurance commissioner to annually submit containing administrative and financial information pertaining to medical malpractice claims. Effective 4/13/04.

Miscellaneous New Insurance Provisions

HB 2318

Broadens current law to allow any insurance company, savings and loan association, bank, credit union or corporation to make, solicit, or receive contributions used for certain non-candidate types of activity. Effective 7/1/04.

Motor Vehicle Insurance

(Transfer of Ownership)

SB 2253

Amends disclosure requirements relative to the transfer of ownership of a motor vehicle. Effective 7/1/04.

Tort Reform

(Product Liability)

HB 2170

Provides that an assembler, designer, supplier of specifications, distributor, manufacturer, or seller is not liable for failure-to-warn claims in product liability actions for generally known product risks. Effective 7/1/04.

(Appeal Bond)

SB 2306

Limits civil action appeal bonds to $100 million. Effective 4/20/04. Chapter 1093, Laws of 2004.

The information contained in this summary is not intended as a portrayal of every property/casualty-related law enacted in each state. Rather, it represents recently enacted legislation specifically identified by NAMIC State and Regulatory Affairs Staff as bearing direct relevance to those issues that represent NAMIC's National State Legislative Agenda or otherwise deemed pertinent to the interests of the majority of NAMIC members.

This summary is for use as a convenient tool for our members, and is not intended, and should not be considered to be, legal advice. Please consult your legal representatives.

Iowa State Resource Center