Iowa Code § 505.2: Appointment and term of commissioner.

1. The governor shall appoint subject to confirmation by the senate, a commissioner of insurance, who shall be selected solely with regard to qualifications and fitness to discharge the duties of this position, devote the entire time to such duties, and serve for four years beginning and ending as provided by section 69.19. The governor may remove the commissioner for malfeasance in office, or for any cause that renders the commissioner ineligible, incapable, or unfit to discharge the duties of the office.

2. A vacancy in the office of the commissioner shall be filled for the unexpired portion of the regular term.

3. The commissioner of insurance shall also serve as the director of the department of insurance and financial services pursuant to section 546.2.