The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1915-06-10

examination of insurance rating
bureaus by the commissioner OF In
surance; providing for an inspection
and survey by such bureaus of all in
surance risks specifically rated; re
curing insurance concerns to adopt
insurance bureau ratings, or to main.
tain or cooperate in maintaining and
operating insurance rate making
bureaus; authorizing hearing upon
and review of the rates fixed by any
such bureau for insurance upon prop.
erty within the state of Iowa; pro-
hlbit1ng discrimination in fixing and
collecting insurance rates, and also
rebates of premiums paid under such
rates, and fixing penalties for the VIC
lation of this act
/ Section One From and after the
taking effect of this act, it's provisions
shall apply to all companies, associa-
tons, Or aggregations of individuals,
acting the business of insurance
against the hazards of fire, lightning,
! windstorm, or hail, within the state
of Iowa: except that section two 90
of this act shall not apply to such
mutual assessment associations as in
sure against either hail or tornado ex-
clusively. and such other associations
! as confine their fire risks to churches.
school houses, town dwelling and
! farm buildings and personal property.
Such mutual associations shall in all
other respects comply with and be
within the provisions of this act, and
| shall file with the commissioner OF In
surance statement in writing show
| ing their plan of operation, and
| method of determining premium rates.
| The provisions hereof shall be in adj
dition to any laws now in force re-
lating to or regulating such business.
Section Two. Every insurance COM
pany or association Or other insurer
authorized to effect insurance against
the hazard of loss or damage by fire,
lightning windstorm or hail In this
state shall be member of a rating
bureau, or adopt as its basis the rat
! ing of bureau making insurnce
rates upon property in the state OF
Iowa. No insurer shall apply the rates
of more than one rating bureau for
the purpose of rating risks of like
kind and hazard within the state OF
Iowa. A rating bureau may consist
of any organization maintained for
insurance rating purposes and not
engage in any way as an insurer, the
to any insurer desiring to adopt the
rates of such bureau, without discrfm-
nation as to cost; or of one or more
insurers, and when consisting of two
or more insurers shall admit to mem
bership any insurer applying therefor.
The expense of a rating bureau con-
sisting of insurers shall be shared in
proportion to the gross premiums re-
ceived by each member during the
preceding year on fire risks located In
this state, and to which said bureaus
rates have been applied, and each
| member shall have one vote. Every
rating bureau shall maintain an office
within this state. Every insurance
company, or other insurer aforesaid,
shall on or before June 1, 1915, and
also in its application for its annual
certificate of authority, specify the
name and address of the rating bureau
making rates upon property located
| in this state Of which IT is member,
or the rating bureau whose rates 1t
has adopted and during the year shall
| file a written notice of any such other
rating bureaus of which it shall be-
come a member, or whose rates it may
| hereafter adopt
Section Three. The commissioner
of insurance may address inquiries to
any individual association or bureau,
Or any insurer or insurers, which is
or has been engaged in making rates
or estimates for insurance upon prop
| erty in this state, In relation to Its
organization, maintenance, or opera
ton, or any other matter connected
with it's transactions. and may require
the filing of schedules. rates. forms.
~, s,1fN
ton, and it shall be the duty Of every
such individual, association. bureau
or insurer. or some officer thereof, to
promptly make such filing, and reply
to such inquiries in writing.
Section Four. The commissioner OF
insurance shall have the power to
examine any such rating bureau as
often as he shall deem it expedient to
do so, and shall do so not less than
once every three years. A report
thereof shall be filed in his Office The
commissioner of insurance may waive
such examination upon the fling with
him OF the report of such examination
made by some other insurance depart
ment or proper supervising officer
within such three years A statement
with regard to such examination shall
J he made in the manner required b!
> the commissioner of insurance.
Section Five. No insurance com
! pany or association or other insure
| insuring against any of the hazards
mentioned in this act, and no ratinl
| bureau shall fix or charge any rat
} for such insurance upon property II
: this state which discriminates unfair
1 Iy between risks of essentially thu
, same hazards and having substantial
2 | ly the same degree OF protection
/ against the hazards covered by the in
4 surance. Every such company or as
S ISOLATION or other insurer shall, a
: least fifteen DAYS in advance Of an
t variation by it from the rates then Il
use. file with the insurance depart
:, ment and the bureau of which it is
s member schedule showing th., varis
t ton. and all such varia tons shall b