514G.111 Authority to promulgate rules. The commissioner may adopt rules pursuant to chapter 17A related to long-term care insurance and to the administration and enforcement of this chapter, including but notlimited to the following: 1. Promoting adequate premiums and protecting policyholders in the event of substantial rate increases. 2. Establishing minimum standards for producer education, compensation, and testing; marketing practices; reporting practices; and penalties related to the sale of long-term careinsurance in this state. 3. Establishing loss ratio standards for long-term care insurance policies with specific reference to such policies. 4. Providing standards for full and fair disclosure by setting forth the manner and content of disclosures required for the sale of long-term care insurance policies includingterms of renewability; initial and subsequent conditions of eligibility; nonduplication ofcoverage provisions; coverage of dependents; effect of preexisting conditions; termination,continuation, or conversion of policies; probationary periods; limitations, exceptions, andreductions; elimination periods; requirements for replacement; recurrent conditions; conditions; termination,continuation, or conversion of policies; probationary periods; limitations, exceptions, andreductions; elimination periods; requirements for replacement; recurrent conditions; anddefinitions of terms. 5. Requiring certain remedial actions necessitated by changes in the long-term care insurance market to provide fair and reasonable protections for long-term care insurancepurchasers and beneficiaries. 6. Ensuring the prompt payment of clean claims.7. Administering the independent review process of insurers’ benefit trigger determinations. 2008 Acts, ch 1175, §12 Sat Dec 23 00:45:47 2023 Iowa Code 2024, Section 514G.111 (16, 0)
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