§ 513b-11

513B.11 Notice of intent to operate as a risk-assuming carrier or reinsuring carrier. 1. a. Upon the approval of a plan of operation by the commissioner under section 513B.13, subsection 4, a small employer carrier authorized to transact the business of insurance in thisstate shall notify the commissioner of the carrier’s intention to operate as a risk-assumingcarrier or a reinsuring carrier. The notification shall be made as deemed appropriate by thecommissioner. A small employer carrier seeking to operate as a risk-assuming carrier shallmake an application pursuant to section 513B.12. b. The notification of the commissioner concerning the carrier’s intention pursuant to paragraph 'a' is binding for a five-year period from the date notification is given, except thatthe initial notification given by carriers after July 1, 1992, is binding for a two-year period.The commissioner may permit a carrier to modify the carrier’s decision at any time for goodcause. c. The commissioner shall establish an application process for small employer carriers seeking to change their status pursuant to this subsection.

fy the carrier’s decision at any time for goodcause. c. The commissioner shall establish an application process for small employer carriers seeking to change their status pursuant to this subsection. If a small employer carrier hasbeen acquired by another such carrier, the commissioner may waive or modify the timeperiods established in paragraph 'b'. 2. A reinsuring carrier that applies and is approved to operate as a risk-assuming carrier shall not be permitted to continue to reinsure any health insurance coverage with theprogram. The carrier shall pay a prorated assessment based upon business issued as areinsuring carrier for any portion of the year that the business was reinsured. 92 Acts, ch 1167, §12; 93 Acts, ch 80, §10; 97 Acts, ch 103, §25 Sat Dec 23 00:43:42 2023 Iowa Code 2024, Section 513B.11 (18, 0)