§ 521a-6a

521A.6A Supervisory colleges — assessment of insurers. 1. Power of commissioner. With respect to any insurer registered under section 521A.4 and in accordance with this section, the commissioner shall have the power to participate ina supervisory college for any domestic insurer that is part of an insurance holding companysystem with international operations in order to determine compliance by the insurer withthis chapter. The powers of the commissioner with respect to supervisory colleges includebut are not limited to the following: a. Initiating the establishment of a supervisory college.b. Clarifying the membership and participation of other supervisors in the supervisory college. c. Clarifying the functions of the supervisory college and the role of other regulators, including the establishment of a group-wide supervisor. d. Coordinating the ongoing activities of the supervisory college, including planning meetings, supervisory activities, and processes for information sharing. e. Establishing a crisis management plan.2. Expenses — assessment. Each registered insurer subject to this section shall be liable for and shall pay the reasonable expenses of the commissioner’s

ing. e. Establishing a crisis management plan.2. Expenses — assessment. Each registered insurer subject to this section shall be liable for and shall pay the reasonable expenses of the commissioner’s participation in asupervisory college in accordance with subsection 3, including reasonable travel expenses.For purposes of this section, a supervisory college may be convened as either a temporary orpermanent forum for communication and cooperation between the regulators charged withthe supervision of the insurer or its affiliates, and the commissioner may establish a regularassessment to the insurer for the payment of these expenses. 3. Supervisory college. In order to assess the business strategy, financial position, legal and regulatory position, risk exposure, risk management and governance processes, andas part of the examination of individual insurers in accordance with section 521A.6, thecommissioner may participate in a supervisory college with other regulators charged withsupervision of an insurer or its affiliates, including other state, federal, and internationalregulatory agencies.

missioner may participate in a supervisory college with other regulators charged withsupervision of an insurer or its affiliates, including other state, federal, and internationalregulatory agencies. The commissioner may enter into agreements in accordance with section 521A.7, subsection 3, providing the basis for cooperation between the commissionerand the other regulatory agencies, and the activities of the supervisory college. Nothing inthis section shall delegate to the supervisory college the authority of the commissioner toregulate or supervise the insurer or its affiliates within the commissioner’s jurisdiction. 2014 Acts, ch 1018, §19; 2016 Acts, ch 1122, §8, 9Referred to in §521A.6B, 521A.7 Sat Dec 23 00:52:31 2023 Iowa Code 2024, Section 521A.6A (13, 0)