Iowa 2021-2022 Regular Session Status: Enacted

HF 583 — A bill for an act relating to private flood insurance, and including future repeal provisions. (Formerly HSB 165.) Effective date: 07/01/2021.

Last action — Signed by Governor.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed House
  4. ✓
    Passed Senate
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced February 17, 2021. Enacted.

Prognosis

Not enough signal yet

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

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Bill Text

What changed in the latest version

72 added · 90 removed

72 line(s) added, 90 removed.

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K i m R e y n o l d s O f f i c e o f t h e G o v e r n o r A d a m G r e g g G O V E R N O R L T G O V E R N O R April30,2021 The Honorable Paul Pate SecretaryofStateofIowa StateCapitol Des Moines,Iowa 50319 DearMr.Secretary, Iherebytransmit:
House File 583 - Enrolled House File 583 AN ACT RELATING TO PRIVATE FLOOD INSURANCE, AND INCLUDING FUTURE REPEAL PROVISIONS.
HouseFile583,anActrelatingtoprivatefloodinsurance,andincludingfuturerepeal provisions.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
TheaboveHouseFileisherebyapprovedonthisdate.
Section 1.
Sincei^ly, Kim Reync»(K Governor of Iowa cc:
SecretaryoftheSenate Clerk of the House STATE CAPITOL DES MOINES,I O W A 50319 515.281.5211 FAX 515.725.352WWW.GOVERNOR.IOWA.GOV G E N E R A I .
A S S E M B I.
V l ini ui n!ui U!i !i !i!ai nini Ei!i ];i !i Hi!i niHi ti !i !ini!i Hi ni !iEini) H o u s e F i l e 5 8 3 A N A C T RELATING T O P R I V A T E F L O O D I N S U R A N C E , A N D INCLUDING F U T U R E R E P E A L P R O V I S I O N S .
B E I T E N A C T E D B Y T H E G E N E R A L A S S E M B L Y O F T H E S T A T E O F I O W A :
Section 1 .
This chapter shall be known and may be cited as the "^Private Primary Residential Flood Insurance Model Act".
This chapter shall be known and may be cited as the “Private Primary Residential Flood Insurance Model Act”.
S e c .
Sec.
3 .
3.
N E W S E C T I O N .
NEW SECTION.
5 1 5 J .
515J.3 Intent.
3 I n t e n t .
It is the intent of the legislature that this chapter shall not restrict the use of existing filings by an insurer, or limit the ability of authorized insurers to provide flood insurance coverage in this state of any type other than primary residential flood insurance.
It is the intent of the legislature that this chapter shall not restrict the use of existing filings by an insurer, or limit the ability of authorized insurers to provide flood insurance coverage in this state of any type other than primary r e s i d e n t i a l f l o o d i n s u r a n c e .
Sec.
S e c .
4.
4 .
NEW SECTION.
N E W S E C T I O N .
515J.4 Definitions.
5 1 5 J .
4 D e f i n i t i o n s .
"^Authorized insurer" means an insurer authorized by t h e c o m m i s s i o n e r t o w r i t e i n s u r a n c e u n d e r a c e r t i f i c a t e o f authority issued by the commissioner to transact insurance in t h i s s t a t e .
“Authorized insurer” means an insurer authorized by the commissioner to write insurance under a certificate of authority issued by the commissioner to transact insurance in this state.
House File 583/ p.
House File 583, p.
'^Commissioner" means the commissioner of insurance.
“Commissioner” means the commissioner of insurance.
"^FAIR plan" means the plan to assure fair access to insurance requirements established pursuant to section 515F.33.
“FAIR plan” means the plan to assure fair access to insurance requirements established pursuant to section 515F.33.
"^National flood insurance program" means the program of flood insurance coverage and floodplain management administered under the National Flood Insurance Act of 1968, as amended.
“National flood insurance program” means the program of flood insurance coverage and floodplain management administered under the National Flood Insurance Act of 1968, as amended, Pub.
Pub.
'''Primary residential flood insurance" means an insurance policy covering losses from flood to residential property, other than commercial property, written in this state by any authorized insurer and that is not written to apply coverage in excess of the coverage provided under another flood insurance policy, including a policy issued by a private insurer or by the national flood insurance program.
“Primary residential flood insurance” means an insurance policy covering losses from flood to residential property, other than commercial property, written in this state by any authorized insurer and that is not written to apply coverage in excess of the coverage provided under another flood insurance policy, including a policy issued by a private insurer or by the national flood insurance program.
S e c 5 .
Sec.
N E S E C T I 5 1 5 J R a t e s .
5.
NEW SECTION .
515J.5 Rates.
The commissioner may audit an insurer's flood rates to ensure compliance with applicable state laws and administrative rules.
The commissioner may audit an insurer’s flood rates to ensure compliance with applicable state laws and administrative rules.
A ni n s u rs h a l l fw i t t h c o m m i s sa l lr a t e s and any changes to such rates which the insurer proposes to use.
2.
An insurer shall file with the commissioner all rates and any changes to such rates which the insurer proposes to use.
S e c .
Sec.
6 N E S E C T I 5 1 5 J F o r m s .
6.
The commissioner may require, through the application of the state's existing regulatory system, all of the following:
NEW SECTION.
515J.6 Forms.
The commissioner may require, through the application of the state’s existing regulatory system, all of the following:
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That an authorized insurer may issue an insurance policy, c o n t r a c t , or endorsement.
That an authorized insurer may issue an insurance policy, contract, or endorsement.
7 .
7.
At least thirty calendar days prior to writing primary residential flood insurance in this state, an authorized insurer shall comply with the following requirements;
At least thirty calendar days prior to writing primary residential flood insurance in this state, an authorized insurer shall comply with the following requirements:
Notify the commissioner of the insurer's intent to sell primary residential flood insurance.
Notify the commissioner of the insurer’s intent to sell primary residential flood insurance.
515J.8 Notice to consumers — special f l o h a z a r d a r e a s .
515J.8 Notice to consumers —— special flood hazard areas.
Before placing an applicant whose property is located in a special flood hazard area with private flood insurance, an insurance producer, surplus lines broker, or an authorized insurer upon the authorized insurer's election or if there is not an insurance producer or surplus lines broker, shall provide notice to the applicant of the following:
Before placing an applicant whose property is located in a special flood hazard area with private flood insurance, an insurance producer, surplus lines broker, or an authorized insurer upon the authorized insurer’s election or if there is not an insurance producer or surplus lines broker, shall provide notice to the applicant of the following:
That flood coverage under the national flood insurance program may be provided at a subsidized rate, and that the full-risk rate for flood insurance may apply to the applicant's property if the applicant later seeks to reinstate coverage under the program.
That flood coverage under the national flood insurance program may be provided at a subsidized rate, and that the full-risk rate for flood insurance may apply to the applicant’s property if the applicant later seeks to reinstate coverage under the program.
S e c .
Sec.
9NEW SECTION.
9.
515J.9 Cancellation and nonrenewal — n o t i c e .
NEW SECTION.
515J.9 Cancellation and nonrenewal —— notice.
4 residential flood insurance, other than for nonpayment of premium, shall be made and provided to the policyholder a minimum of forty-five days before the cancellation or nonrenewal of the flood insurance, and in compliance with the applicable provisions of sections 515.129A, 515.129B, and 1 5 .
4 residential flood insurance, other than for nonpayment of premium, shall be made and provided to the policyholder a minimum of forty-five days before the cancellation or nonrenewal of the flood insurance, and in compliance with the applicable provisions of sections 515.129A, 515.129B, and 515.129C.
1 2 9 C .
Diligent search requirements pursuant to section 5151.3, subsection 1, paragraph "^c", shall not apply to flood coverage under an insurance policy issued by an eligible surplus lines i n s u ru n t i l st i mt h a t h e c o m m i sc e r t i fi na s commissioner's bulletin or by order that the admitted private flood insurance market is adequate.
Diligent search requirements pursuant to section 515I.3, subsection 1, paragraph “c”, shall not apply to flood coverage under an insurance policy issued by an eligible surplus lines insurer until such time that the commissioner certifies in a commissioner’s bulletin or by order that the admitted private flood insurance market is adequate.
NEW SECTION.
NEW SECTION .
Writing private flood insurance shall not constitute participation in the property insurance market for purposes of determining membership in the FAIR plan pursuant to section 1 5 F .
Writing private flood insurance shall not constitute participation in the property insurance market for purposes of determining membership in the FAIR plan pursuant to section 515F.34.
3 4 .
NEW SECTION.
NEW SECTION .
515J.12 Certification — private f l o i n s u r a n c e .
515J.12 Certification —— private flood insurance.
An insurer that writes flood insurance under this chapter may certify that the insurance policy meets the definition of "^private flood insurance" as specified in 42 D.S.C.
An insurer that writes flood insurance under this chapter may certify that the insurance policy meets the definition of “private flood insurance” as specified in 42 U.S.C.
S e c .
Sec.
1 3N E S E C T I 5 1 5 J .P u b l i c r e c o r d s .
13.
NEW SECTION.
515J.13 Public records.
S e c .
Sec.
1 4N E S E C T I 5 1 5 J .C o n f l i c t o f l a w s .
14.
NEW SECTION .
515J.14 Conflict of laws.
S e c .1 5 .
Sec.
N E WS E C T I O N .5 1 5 J .
15.
1 5R u l e s .
NEW SECTION.
The commissioner may adopt rules pursuant to chapter 17A as necess^y to administer this chapter.
515J.15 Rules.
P A T G R A S S L E Y K E C H A P M A N Speaker of the House P r e s i d e no f t h eS e n a t e I hereby certify that this bill originated in the House and is known as House File 583, Eighty-ninth General Assembly.
The commissioner may adopt rules pursuant to chapter 17A as necessary to administer this chapter.
M H E G E i W H E L S O I ) Chief Clerk q f ^ h e House Approved jV*I , 2 02 1 K I M R E Y N O L D S G o v e r n o r
______________________________ ______________________________ PAT GRASSLEY JAKE CHAPMAN Speaker of the House President of the Senate I hereby certify that this bill originated in the House and is known as House File 583, Eighty-ninth General Assembly.
______________________________ MEGHAN NELSON Chief Clerk of the House Approved _______________, 2021 ______________________________ KIM REYNOLDS Governor
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Amendments

1 amendment

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Action History

  1. Signed by Governor.

  2. Reported correctly enrolled, signed by Speaker and President, and sent to Governor.

  3. Message from Senate.

  4. Immediate message.

  5. Passed Senate, yeas 44, nays 0.

  6. Substituted for SF 460.

  7. Placed on calendar under unfinished business.

  8. Read first time, attached to companion SF 460.

  9. Message from House.

  10. Immediate message.

  11. Passed House, yeas 94, nays none.

  12. Amendment H-1114 adopted.

  13. Amendment H-1114 filed.

  14. Introduced, placed on calendar.

Sponsorship breakdown

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0 sponsors · 0 co-sponsors · 150 not signed on

Sponsors (0)

None.

Co-sponsors (0)

None.

Not signed on (150)

150 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

housing environment
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

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This bill has been enacted into law. Introduced February 17, 2021. Enacted.
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