Lance Surety Bond Associates, Inc.

This bill will provide for an additional method for determine the limitation on the appeals bond required under existing law in medical malpractice suits. Under current law the bond amount is capped at $25 million for any civil action. The new bill would allow for the bond amount to be capped at the lesser of either the amount of the judgment, or the amount of the appellant’s medical malpractice insurance coverage. This is only applicable to the action sought against him or her.

Through this bill contaminated industrial sites will now have the use of site specific remediation standards. Financial assurance will be required by the person conduction the remediation project. This will be required in order to insurance the completion of the cleanup project according to the remedial action plan. A surety bond may be posted as a form of financial assurance.

According to the recently enacted Iowa House Bill 2646 (HB 2646), fire sprinkler installers and maintenance workers are required to become officially licensed, purchase public liability insurance, and must obtain a surety bond (specifically a license bond). The amount of this commercial bond will be determined by Iowa