IA HSB702

Insurers must provide requested claim-related information to policyholders within 15 calendar days, including certified policy copies, claim applications, adjuster contact information, payment accountings, internal communications, and all claim-related documentation in their possession.

Insurance policies cannot impose loss notification deadlines if the insured could not have reasonably known about the loss and the insurer would not be prejudiced by the delay.

Replacement cost policies must allow at least one year from the most recent actual cash value payment for insureds to recover depreciation amounts, with written notice required 90 days before the deadline.

Policies cannot limit the statute of limitations for wrongful denial lawsuits to less than five years from the date of loss or two years from denial (whichever is later), with 90-day advance written notice of deadlines required.

Insurers who refuse to provide requested information by claiming privilege, when that information is later determined not to be privileged, will be deemed to have committed an unfair or deceptive practice under Iowa insurance law.