Iowa Insurance Commissioner Nick Gerhart News

Iowa in Middle of Debate Over ‘Shadow Insurance’ Deals

For cash-strapped life insurance companies, the deal sounds almost too good to be true: A state law allows them to create complex financial instruments to transfer liabilities to new subsidiaries, instantly wiping huge debts off their books. So-called “shadow insurance” …

Iowa Insurance Commissioner Sues Feds Over Failed Health Co-Op

Iowa Insurance Commissioner Nick Gerhart says federal health officials are unlawfully withholding millions of dollars owed to a failed health insurance co-op in his state. Gerhart, who is Liquidator for CoOportunity Health, filed suit against the U.S. Department of Health and …

Former Iowa Firefighter Again Pleads Guilty to Insurance Fraud

A former Iowa firefighter pleaded guilty to insurance fraud related to a string of cases spanning Buchanan, Clayton and Delaware counties, the Iowa Department of Insurance reported. Terry Russell Groth, a former Strawberry Point firefighter, entered the plea on Feb. …

Liquidation Looms for Midwest Insurance Cooperative

An insurance cooperative created to provide health care in Iowa and Nebraska will be formally liquidated this weekend. Iowa Insurance Commissioner Nick Gerhart said that a Polk County judge has agreed to approve the liquidation plan. CoOportunity is a federally …

Gerhart: U.S. Has a Good Story to Tell at the Global Insurance Symposium

The state of Iowa on May 20-22, 2014, will host its first ever Global Insurance Symposium, a privately funded event that aims to bring insurance professionals and regulators from around the world together to discuss the challenges facing the global …

Life Insurers Flock to ‘Easy’ Iowa As More Federal Oversight Looms

After Symetra Financial Corp. was formed in 2004, the life insurer set up shop in a 25-story glass tower outside Seattle, put its name on the building and pushed the state to adopt more favorable rules for its business. The …

Insurance Leaders from India, Japan to Speak at Iowa Symposium

Keynote speakers at a global insurance symposium scheduled for May in Des Moines, Iowa, will include high ranking insurance officials from Japan and India. Gov. Terry Branstad says Japan’s Vice Commissioner Masamichi Kono and the chairman of India’s Insurance Regulatory …

Iowa to Host Global Insurance Symposium in 2014

Iowa officials say a new insurance symposium set for next year in Des Moines is aimed at bringing top industry experts to the area. Iowa Insurance Commissioner Nick Gerhart said the two-day Global Insurance Symposium will attract industry experts and …

Iowa Insurance Regulator Approves Aviva Acquisition

Iowa’s insurance regulator has approved the acquisition of West Des Moines-based AvivaUSA and subsidiaries by Athene Holding Ltd., a life insurance company owned primarily by private equity fund Apollo Global Management. Iowa Insurance Commissioner Nick Gerhart said in a statement …

Iowa’s Top Insurer Delays Exchange Participation

Iowa’s leading health insurer will wait a year before participating in the state’s new health exchange due to concerns about problems that could arise with its implementation in the early going, company’s CEO said. Wellmark Blue Cross and Blue Shield …