Iowa 2025-2026 Regular Session

Iowa House Bill HSB701

Introduced
2/10/26  

Caption

A bill for an act relating to investigations of insurance fraud related to adjusters, appraisers, and umpires, and license and financial responsibility requirements for adjusters, and including effective date provisions.(See HF 2582.)

Impact

One of the significant changes introduced by HSB701 is the reassessment of licensing requirements for adjusters. Previously, individuals seeking to become licensed adjusters were required to obtain surety bonds to ensure financial responsibility. The bill proposes to eliminate these stringent requirements, instead allowing applicants to provide evidence of financial responsibility in formats prescribed by the commissioner, thus simplifying the process. This adjustment aims to increase accessibility to the profession while maintaining oversight against malfeasance.

Summary

House Study Bill 701 (HSB701) aims to address and streamline the processes related to investigations of insurance fraud involving adjusters, appraisers, and umpires. The bill seeks to amend various sections of the Iowa Code to clarify the roles and responsibilities of insurance professionals and modify the requirements related to licensing and financial responsibility provisions for adjusters. It is particularly focused on how investigations of insurance fraud are conducted under the purview of the insurance commissioner, which is essential for the regulation of a safe and equitable insurance market in Iowa.

Contention

Notable points of contention surrounding HSB701 pertain to the regulatory balance between encouraging new adjusters entering the field and safeguarding against potential fraud or negligence in claims handling. Opponents may argue that reducing the financial responsibility requirements could lead to a lax environment where unqualified individuals may operate without the necessary checks. Conversely, proponents believe that such changes are crucial for fostering a more dynamic insurance market in Iowa, ultimately helping consumers by allowing more professionals to provide services.

Companion Bills

IA HF2582

Replaced by A bill for an act relating to investigations of insurance fraud related to adjusters, appraisers, and umpires, and license and financial responsibility requirements for adjusters, and including effective date provisions. (Formerly HSB 701.) Effective date: 04/09/2026.

Previously Filed As

IA HF2582

A bill for an act relating to investigations of insurance fraud related to adjusters, appraisers, and umpires, and license and financial responsibility requirements for adjusters, and including effective date provisions. (Formerly HSB 701.) Effective date: 04/09/2026.

IA HF2273

A bill for an act relating to investigations of insurance fraud related to adjusters, appraisers, and umpires.

IA HF2232

A bill for an act relating to life insurance, permissible third parties, and financial exploitation of eligible adults. (Formerly HSB 516.) Effective date: 07/01/2026.

IA HF982

A bill for an act relating to the natural hazard mitigation financing program, the disaster recovery housing assistance program, the disaster recovery new housing program, post-loss assignment of benefits, the licensing and regulation of adjusters, appraisers, and umpires, and the Iowa economic emergency fund, and providing penalties, making appropriations, and including effective date and retroactive applicability provisions.(Formerly HF 957, HSB 246; See HF 1012.)

IA HF1012

A bill for an act relating to the natural hazard mitigation financing program, the disaster recovery housing assistance program, the disaster recovery new housing program, post-loss assignment of benefits, the licensing and regulation of adjusters, appraisers, and umpires, and the Iowa economic emergency fund, and providing penalties, making appropriations, and including effective date and retroactive applicability provisions.(Formerly HF 982, HF 957, HSB 246.)

IA HF957

A bill for an act relating to the natural hazard mitigation financing program, the disaster recovery housing assistance program, the disaster recovery new housing program, post-loss assignment of benefits, the licensing and regulation of adjusters, appraisers, and umpires, and the Iowa economic emergency fund, and providing penalties, making appropriations, and including effective date and retroactive applicability provisions.(Formerly HSB 246; See HF 982, HF 1012.)

IA HSB246

A bill for an act relating to the natural hazard mitigation financing program, the disaster recovery housing assistance program, the disaster recovery new housing program, post-loss assignment of benefits, the licensing and regulation of adjusters, appraisers, and umpires, and the Iowa economic emergency fund, and providing penalties, making appropriations, and including effective date and retroactive applicability provisions.(See HF 957, HF 982, HF 1012.)

IA SSB1188

A bill for an act relating to the natural hazard mitigation financing program, the disaster recovery housing assistance program, the disaster recovery new housing program, post-loss assignment of benefits, the licensing and regulation of adjusters, appraisers, and umpires, and the Iowa economic emergency fund, and providing penalties, making appropriations, and including effective date and retroactive applicability provisions.(See SF 591, SF 619.)

IA SF619

A bill for an act relating to the natural hazard mitigation financing program, the disaster recovery housing assistance program, the disaster recovery new housing program, post-loss assignment of benefits, the licensing and regulation of adjusters, appraisers, and umpires, and the Iowa economic emergency fund, and providing penalties, making appropriations, and including effective date and applicability provisions. (Formerly SF 591, SSB 1188.) Effective date: 04/22/2025, 07/01/2025. Applicability date: Conditional, 01/01/2024.

IA SF591

A bill for an act relating to the natural hazard mitigation financing program, the disaster recovery housing assistance program, the disaster recovery new housing program, post-loss assignment of benefits, the licensing and regulation of adjusters, appraisers, and umpires, and the Iowa economic emergency fund, and providing penalties, making appropriations, and including effective date and retroactive applicability provisions.(Formerly SSB 1188; See SF 619.)

Similar Bills

No similar bills found.