2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 515A - WORKERS' COMPENSATION LIABILITY INSURANCE
515A.4 - RATE FILINGS.

        515A.4  RATE FILINGS.
         1. a.  Every insurer shall file with the commissioner every
      manual, minimum, class rate, rating schedule or rating plan and every
      other rating rule, and every modification of any of the foregoing
      which it proposes to use.  Every such filing shall state the proposed
      effective date thereof, and shall indicate the character and extent
      of the coverage contemplated.
         b.  When a filing is not accompanied by the information upon
      which the insurer supports such filing, and the commissioner does not
      have sufficient information to determine whether such filing meets
      the requirements of this chapter, the commissioner shall require such
      insurer to furnish the information upon which it supports such filing
      and in such event the waiting period shall commence as of the date
      such information is furnished.  Until the required information is
      furnished, the filing shall not be deemed complete or available for
      use by the insurer.
         c.  The information furnished in support of a filing may
      include the experience or judgment of the insurer or rating
      organization making the filing, its interpretation of any statistical
      data it relies upon, the experience of other insurers or rating
      organizations, or any other relevant factors.  When a filing is
      deemed complete, the filing and any supporting information shall be
      open to public inspection.
         2.  An insurer may satisfy its obligation to make such filings by
      becoming a member of, or a subscriber to, a licensed rating
      organization which makes such filings, and by authorizing the
      commissioner to accept such filings on its behalf; provided that
      nothing contained in this chapter shall be construed as requiring any
      insurer to become a member of or a subscriber to any rating
      organization.
         3.  The commissioner shall review filings as soon as reasonably
      possible after they have been made in order to determine whether they
      meet the requirements of this chapter.
         4.  Each complete filing shall be on file for a waiting period of
      thirty days before it becomes effective, which period may be extended
      by the commissioner for an additional period not to exceed fifteen
      days if the commissioner gives written notice within the waiting
      period to the insurer or rating organization which made the filing
      that the commissioner needs additional time for the consideration of
      the filing.  Upon written application by the insurer or rating
      organization, the commissioner may authorize a filing which the
      commissioner has reviewed to become effective before the expiration
      of the waiting period or any extension of the period.  A filing shall
      be deemed to meet the requirements of this chapter unless disapproved
      by the commissioner before the expiration of the waiting period or an
      extension of the waiting period.
         5.  Under such rules and regulations as the commissioner shall
      adopt the commissioner may, by written order, suspend or modify the
      requirement of filing as to any kind of insurance, subdivision or
      combination thereof, or as to classes of risks, the rates for which
      cannot practicably be filed before they are used.  Such order, rules
      and regulations shall be made known to insurers and rating
      organizations affected thereby.  The commissioner may make such
      examination as the commissioner may deem advisable to ascertain
      whether any rates affected by such order meet the standards set forth
      in paragraph "b" of subsection 1 of section 515A.3.
         6.  Upon the written application of the insured, stating the
      insured's reasons therefor, filed with and approved by the
      commissioner a rate in excess of that provided by a filing otherwise
      applicable may be used on any specific risk.
         7.  No insurer shall make or issue a contract or policy except in
      accordance with the filings which are in effect for the insurer as
      provided in this chapter or in accordance with subsection 5 or 6.
         8.  If a hearing is requested pursuant to section 515A.6,
      subsection 7, a filing shall not take effect until thirty days after
      formal approval is given by the commissioner.  

         Section History: Early Form

         [C50, 54, 58, 62, § 515A.4, 515B.4; C66, 71, 73, 75, 77, 79, 81, §
      515A.4] 

         Section History: Recent Form

         87 Acts, ch 132, § 5; 92 Acts, ch 1162, § 39; 93 Acts, ch 88, §20;
      2008 Acts, ch 1123, §31
         Referred to in § 515A.5