Iowa Code r. 193E-19.6 - Compliance
(1) The commission
needs receipt of proof of errors and omissions insurance from new licensees
before the license is issued.
(2)
The commission needs receipt of proof of errors and omissions insurance from
the applicant before reinstating an expired license.
(3) The commission needs receipt of proof of
errors and omissions insurance before reactivating an inactive status license
to active status.
(4) Applicants
for license renewal need to attest and certify that they have current errors
and omissions insurance in effect that meets Iowa insurance criteria.
a. The commission will verify by random audit
or on a test basis the insurance compliance attested to by the
licensee.
b. Licensees
participating in the state group program cannot be audited if commission
records indicate the insurance carrier or program manager has submitted current
proof of coverage.
c. Licensees
with other insurance coverage cannot be audited if commission records indicate
the current proof of coverage has been submitted.
d. The commission may randomly audit by any
factor as will provide a reasonable sampling given the volume, purpose and
scope of audit.
e. The commission
may randomly audit as the result of any complaint filed with the commission
whether or not adequate insurance coverage was questioned in the
complaint.
f. The commission may
audit compliance with insurance coverage at any time the commission has
reasonable cause to question a licensee's compliance.
(5) A licensee is needed to carry insurance
on an uninterrupted basis and cannot avoid discipline simply by acquiring
insurance after receipt of an audit notice.
(6) Failure to comply with Iowa Code section
543B.47(6)
within 20 calendar days of the commission's request is prima facie evidence of
a violation of Iowa Code sections
543B.15(5) and
543B.47(1) and
is grounds for the denial of an application for licensure, the denial of an
application to renew a license, or the suspension or revocation of a
license.
(7) Submitting false
documentation of insurance coverage, or falsely claiming to have or attesting
to having insurance coverage, is prima facie evidence of violation of Iowa Code
sections 543B.29(1) and
543B.34(1).
(8) Failure to provide required proof of
insurability within 30 days of written notice by the commission results in the
placement of the license on inactive status. A license that has been placed on
inactive status pursuant to this provision is not reactivated until
satisfactory evidence has been provided verifying that coverage is current and
in full force and effect.
Notes
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