Introduction to Insurance Law in Iowa
People buy insurance to protect themselves, their families, and their property. In some cases, you have to buy insurance, either because of the law or an agreement you have with someone, like a mortgage company. In other cases, you may choose to buy insurance. Insurance is affected by many different factors: state and federal statutes and regulations, case law, and an individual’s (or group’s) policy with an insurer.
An insurance policy is a contract between you and your insurance provider. Your insurance policy affects what your insurance covers. Make sure you read your insurance policy closely before signing it.
Who regulates insurance in Iowa?
The Iowa Insurance Division regulates insurance in Iowa. The Insurance Division has a helpful website with information on different insurance topics.
The Insurance Division seeks to help protect consumers and help people understand insurance products. The Insurance Division has a team devoted to answering questions and complaints from consumers called the Market Regulation Bureau. You can reach them by filling out their contact form or calling 1-877-955-1212 (toll free in Iowa). Their Contact page has more contact options.
You can make a complaint against an entity or individual regulated by the Insurance Division at their Filing Complaints page.
Does the federal government regulate insurance?
In addition to state law, federal law also affects insurance, especially health insurance. Federal agencies involved in insurance include the Employee Benefits Security Administration and the Centers for Medicare & Medicaid Services.
How do I find a licensed insurance agent in Iowa?
Visit the Insurance Division's webpage "Find a Licensed Insurance Agent" for more information on finding a licensed insurance agent in Iowa.
What do I do if I suspect insurance fraud?
Insurance fraud is a crime. The Iowa Insurance Fraud Act is located at Iowa Code Chapter 507E. If you believe that someone has committed insurance fraud, you can make a report to the Insurance Division. Visit the Insurance Division's webpage "Report Insurance Fraud" for more information.