2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 516B - AUTOMOBILE LIABILITY POLICIES
516B.2 - REDUCTION IN PREMIUMS TO REFLECT REDUCTIONS IN LOSSES.

        516B.2  REDUCTION IN PREMIUMS TO REFLECT REDUCTIONS IN
      LOSSES.
         The commissioner shall require that insurance companies
      transacting business in this state reduce the automobile liability
      insurance premiums charged insureds in this state for liability
      insurance renewed or issued on or after July 1, 1987.  The reduction
      in insurance premiums, on a statewide basis, shall be at whatever
      amount the commissioner of insurance deems appropriate as reflecting
      the reduction in annual losses incurred by the insurance companies
      with the enactment of 1986 Iowa Acts, chapter 1009.  The commissioner
      of insurance may annually make adjustments to the reduction in
      insurance premiums as the commissioner deems appropriate considering
      the latest statistics available to the commissioner.
         In making the determination on the amount of reduction of
      automobile liability insurance premiums which takes effect July 1,
      1987, the commissioner may employ or contract with actuarial
      consultants as necessary in making the determination.  The reasonable
      fees and expenses of an actuarial consultant employed or contracted
      by the commissioner for the purpose of determining the amount of the
      July 1, 1987 reduction shall be assessed against and paid by the
      affected insurance companies.  

         86 Acts, ch 1218, §2