Iowa Annuity Information
Iowa Insurance Division
The Iowa Insurance Division supervises all insurance business transacted in the state. The insurance commissioner oversees companies and individuals in the sale of insurance in Iowa and has general control over all aspects of their business, from the forms they use to the rates they charge. The Insurance Division also has statutory authority over many activities related to the sale of securities and other regulated products in the state.
The state of Iowa is part of the U.S. insurance regulatory framework which is a highly coordinated state-based national system designed to protect policyholders and to serve the greater public interest through the effective regulation of the U.S. insurance marketplace. Through the National Association of Insurance Commissioners (NAIC), U.S. insurance regulators establish national standards and best practices, conduct peer reviews and coordinate their regulatory oversight to better protect the interests of consumers while ensuring a strong, viable insurance marketplace. U.S. insurance regulators also participate in the International Association of Insurance Supervisors (IAIS) along with the NAIC by participating in major standard setting initiatives, including working with fellow regulators from around the world to better supervise cross-border insurers, identifying systemic risk in the insurance sector, and creating international best practices.
Iowa Governor Terry Branstad appointed Nick Gerhart to serve as Insurance Commissioner of the State of Iowa succeeding Commissioner Susan Voss. Nick began his role on February 1, 2013.
Prior to being appointed Insurance Commissioner Nick worked for Sammons Financial Group as the Vice President of Compliance and Regulatory Affairs. Nick is active in the Des Moines community and serves on numerous civic boards. He earned his law degree and health law certificate from St. Louis University School of Law and a Masters of Health Administration from St. Louis University School of Public Health. He earned his BA from the University of Northern Iowa.
The Iowa Insurance Division launched a project to increase the amount and quality of disclosure information related to fixed annuity contracts purchased by Iowa consumers from insurance companies doing business within the state. The American Council of Life Insurers agreed to participate in the joint venture. To learn more about how the Iowa Insurance Division works to protect consumers, visit the website at http://www.iid.state.ia.us.
|State Commissioner:||Nick Gerhart|
|Insurance Hotline:||(515) 281-5705|
|Annuity Guarantee Limit:||$100,000|
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