§ 507d-3

507D.3 Authorized assistance programs. The commissioner of insurance is authorized to institute programs, order the institution of programs within the private sector, or to contract with or delegate authority to the departmentof administrative services for the institution of programs relating to insurance assistanceincluding, but not limited to, the following: 1. The development and implementation of a market assistance program to facilitate, arrange, or provide for the acquisition of property, casualty, product, professional, or otherliability insurance coverage for all persons or entities seeking such coverage but for whichthe coverage is presently unavailable or unobtainable to the person or entity. 2. The development and implementation of a mandatory risk allocation system for property, casualty, product, professional, or other liability insurance, except asbestos andenvironmental impairment liability, in order to assure that all persons or entities for whichsuch insurance is essential may obtain such insurance from insurers authorized to dobusiness within this state. 3. The development and implementation of a risk-sharing program to assist and advise persons or entities

essential may obtain such insurance from insurers authorized to dobusiness within this state. 3. The development and implementation of a risk-sharing program to assist and advise persons or entities seeking property, casualty, product, professional, or other liabilityinsurance, except asbestos and environmental impairment liability, on the most efficientmanner in which to share or pool similar risks in order to obtain essential insurance coverageat the minimum cost. 4. The development and implementation of a risk management program for persons or entities to which property, casualty, product, professional, or other liability insurance isessential, such program to include at a minimum the following: a. Assistance in developing and maintaining loss and loss exposure data on such liability risks. b. Recommendations regarding risk reduction and risk elimination programs.c. Recommendations of those practices which will permit protection against such losses at the lowest costs, consistent with good underwriting practices and sound risk managementtechniques. 5. Subsections 2 and 3 shall have no application or effect after July 1, 1991.6.

inst such losses at the lowest costs, consistent with good underwriting practices and sound risk managementtechniques. 5. Subsections 2 and 3 shall have no application or effect after July 1, 1991.6. An assistance program for the facilitation of insurance and financial responsibility coverage for owners and operators of underground storage tanks which store petroleumshall not be affected by the exceptions of subsections 2 and 3. 86 Acts, ch 1211, §28; 87 Acts, ch 225, §601; 88 Acts, ch 1134, §94; 89 Acts, ch 76, §9; 2003 Acts, ch 145, §286 Referred to in §507D.2, 507D.4 Sat Dec 23 00:40:07 2023 Iowa Code 2024, Section 507D.3 (15, 0)