2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 515F - CASUALTY INSURANCE
515F.22 - COMPETITIVE MARKET.

        515F.22  COMPETITIVE MARKET.
         1.  A noncompetitive market is presumed to exist unless the
      commissioner determines after a hearing that a reasonable degree of
      competition exists in the market and the commissioner issues an order
      to that effect.  Such an order shall not become effective until sixty
      days after the date of the order and shall expire not later than one
      year thereafter unless the commissioner renews the order.  Any
      affected insurer or insured may petition for a hearing on the renewal
      of an order relating to competitive status.
         2.  In determining whether a reasonable degree of competition
      exists, the commissioner shall consider relevant factors of workable
      competition pertaining to the market structure, market performance,
      and market conduct, and the practical opportunities available to
      consumers in the market to obtain pricing and other consumer
      information and to compare and obtain insurance from competing
      insurers.  Such factors may include, but are not limited to, the
      following:
         a.  The size and number of insurers actually engaged in the
      market.
         b.  The profitability for insurers generally in the market
      segment and whether that profitability is unreasonably high.
         c.  The price variance on premiums offered in the market.
         d.  The availability of consumer information concerning the
      product and sales outlets or other sales mechanisms.
         e.  The efforts of insurers to provide consumer information.
         f.  Consumer complaints regarding the market generally.  

         87 Acts, ch 132, § 8
         CS87, § 515A.22
         90 Acts, ch 1234, § 77
         C91, § 515F.22
         Referred to in § 515F.20, 515F.21