2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 515F - CASUALTY INSURANCE
515F.31 - PURPOSE.

        515F.31  PURPOSE.
         The purposes of this division include all of the following:
         1.  To make basic property insurance available to qualified
      applicants with the least possible administrative detail and expense.

         2.  To establish a plan, an industry placement facility, and a
      joint reinsurance association for the equitable distribution and
      placement of risks among insurers.
         3.  To utilize fully the voluntary insurance market as a source of
      essential property insurance.
         4.  To encourage the delivery of basic property insurance at the
      most reasonable cost possible, provided that insurance pricing by the
      FAIR plan is actuarially self-supporting and does not actively
      compete with insurance pricing in the voluntary insurance market.  

         2003 Acts, ch 119, §2, 11