2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 515F - CASUALTY INSURANCE
515F.13 - POOL AND RESIDUAL MARKET ACTIVITIES.

        515F.13  POOL AND RESIDUAL MARKET ACTIVITIES.
         1.  Authorization.  Notwithstanding section 515F.9, rating
      organizations, advisory organizations, and insurers participating in
      joint underwriting, joint reinsurance pools, or residual market
      mechanisms may in connection with such activity act in cooperation
      with each other in the making of rates, rating systems, policy forms,
      underwriting rules, surveys, inspections, and investigations, the
      furnishing of loss and expense statistics or other information, or
      carrying on research.  Joint underwriting, joint reinsurance pools,
      and residual market mechanisms shall not be deemed advisory
      organizations.
         2.  Regulation.
         a.  Except to the extent modified by this section, insurers,
      and joint underwriting, joint reinsurance pool, and residual market
      mechanism activities are subject to the other provisions of this
      chapter.
         b.  If, after hearing, the commissioner finds that an activity
      or practice of an insurer participating in joint underwriting or a
      pool is unfair, is unreasonable, will tend to lessen competition in a
      market, or is otherwise inconsistent with the provisions or purposes
      of this chapter, the commissioner may issue a written order and
      require the discontinuance of that activity or practice.
         c.  A pool shall file with the commissioner a copy of its
      constitution; its articles of incorporation, agreement, or
      association; its bylaws, rules, and regulations governing its
      activities; its members; the name and address of a resident of this
      state upon whom notices or orders of the commissioner or process may
      be served; and any changes in amendments or changes in the foregoing.

         d.  A residual market mechanism, or plan or agreement to
      implement such a mechanism, and any changes or amendments thereto,
      shall be submitted in writing to the commissioner for consideration
      and approval, together with information as reasonably required by the
      commissioner.  The commissioner shall only approve agreements found
      to contemplate both of the following:
         (1)  The use of rates which meet the standards prescribed by this
      chapter.
         (2)  Activities and practices that are not unfair, unreasonable,
      or otherwise inconsistent with this chapter.
         At any time after the agreements are in effect, the commissioner
      may review the practices and activities of the adherents to the
      agreements and if, after a hearing, the commissioner finds that any
      such practice or activity is unfair or unreasonable, or is otherwise
      inconsistent with this chapter, the commissioner may issue a written
      order to the parties and either require the discontinuance of the
      acts or revoke approval of the agreement.  

         90 Acts, ch 1234, §57
         Referred to in § 515F.3, 515F.14, 515F.23