reglab/housing_qa huggingface dataset:
IA Code § 515F.4A (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 515F - CASUALTY INSURANCE|Section 515F.4A - Reasonableness of benefits in relation to premium charged.

515F.4A Reasonableness of benefits in relation to premium charged.   Benefits provided by credit personal property insurance shall be reasonable in relation to the premium charged. This requirement is satisfied if the premium rate charged develops or may reasonably be expected to develop a loss ratio of not less than fifty percent or such lower loss ratio as designated by the commissioner to afford a reasonable allowance for actual and expected loss experience including a reasonable catastrophe provision, general and administrative expenses, reasonable acquisition expenses, reasonable creditor compensation, investment income, premium taxes, licenses, fees, assessments, and reasonable insurer profit.  2001 Acts, ch 69, §34, 39  Referred to in §515F.23
IA Code § 515F.5A (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 515F - CASUALTY INSURANCE|Section 515F.5A - Collateral insurance and forced placement.

515F.5A Collateral insurance and forced placement.   1. The commissioner shall review all collateral insurance forms and rates to assure that the rates are not excessive in comparison to the benefits provided to consumers.   2. The commissioner may adopt by rule procedures and restrictions to protect consumers from abusive practices in forced placement or collateral insurance. Rules may include, but are not limited to, the following:   a. Notice requirements, to assure that consumers have an opportunity to exercise reasonable choice in the placement, of a collateral insurance policy.   b. A prohibition or limitation on the receipt of a sales commission or other fee by the person making a forced placement, or the person’s employer.   3. For purposes of this section, unless the context otherwise requires:   a. “Collateral insurance” means an insurance policy solely or primarily intended to provide security for a loan or to insure collateral for a loan.   b. “Forced placement” means the purchase of an insurance policy by a third person when the law or a contract obligates another person to pay the insurance premium.  92 Acts, ch 1162, §13  Referred to in §515F.23
IA Code § 515F.6 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 515F - CASUALTY INSURANCE|Section 515F.6 - Disapproval of filings.

515F.6 Disapproval of filings.   1. If, within the waiting period or any extension of it as provided in section 515F.5, subsection 3, the commissioner finds that a filing does not meet the requirements of this chapter, written notice of disapproval shall be sent to the insurer or advisory organization which made the filing, specifying in what respects the filing fails to meet the requirements of this chapter and stating that the filing shall not become effective. If a filing is disapproved by the commissioner, the insurer or advisory organization, may request a hearing on the disapproval within thirty days. The insurer bears the burden of proving compliance with the standards established by this chapter.   2. If, at any time after a rate has been approved, the commissioner finds that the rate no longer meets the requirements of this chapter, the commissioner may order the discontinuance of use of the rate. The order of discontinuance may be issued only after a hearing with at least ten days’ prior notice for all insurers affected by the order. The order must be in writing and state the grounds for the order. The order shall state when, within a reasonable period after the order is issued, the order of discontinuance shall be effective. The order shall not affect a contract or policy made or issued prior to the expiration of the period set forth in the order.   3. An insured which is aggrieved with respect to a filing which is in effect may make written application to the commissioner for a hearing on that filing. The application shall specify the grounds to be relied upon by the applicant. If the commissioner finds that the application is made in good faith, that the applicant would be so aggrieved if the applicant’s grounds are established, and that the grounds otherwise justify holding a hearing, a hearing shall be held within thirty days after receipt of the application, upon not less than ten days’ written notice to the applicant and to every insurer and advisory organization which made that filing.   4. If, after hearing, the commissioner finds that the filing does not meet the requirements of this chapter, the commissioner shall issue an order specifying in what respects the filing fails to meet the requirements of this chapter, and stating when, within a reasonable period after the order is issued, the filing shall no longer be in effect. Copies of the order shall be sent to the applicant and to every insurer and advisory organization which made that filing. The order shall not affect a contract or policy made or issued prior to the expiration of the period set forth in the order.  90 Acts, ch 1234, §50; 2012 Acts, ch 1023, §126  Referred to in §515F.12, 515F.23
IA Code § 515F.7 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 515F - CASUALTY INSURANCE|Section 515F.7 - Information to be furnished insureds — hearings and appeals of insureds.

515F.7 Information to be furnished insureds — hearings and appeals of insureds.   An insurer shall, within a reasonable time after receiving written request and upon payment of reasonable charges set by the commissioner, furnish to an insured affected by a rate made by the insurer, or to the authorized representative of the insured, all pertinent information as to the rate. An insurer shall provide within this state reasonable means for the insured aggrieved by the application of its rating system to be heard, in person or by the insured’s authorized representative, on written request to review the manner in which the rating system has been applied in connection with the insurance afforded the insured. If the insurer fails to grant or reject a request for hearing and review within thirty days after it is made, the applicant may proceed in the same manner as if the application had been rejected. The insured affected by the action of the insurer on a request may, within thirty days after written notice of the action, appeal to the commissioner, who, after a hearing held upon not less than ten days’ written notice to the appellant and to the insurer, may affirm or reverse the action.  90 Acts, ch 1234, §51  Referred to in §515F.23
IA Code § 515F.8 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 515F - CASUALTY INSURANCE|Section 515F.8 - Licensing advisory organizations.

515F.8 Licensing advisory organizations.   1. License required. An advisory organization shall not provide a service relating to the rates of insurance subject to this chapter, and an insurer shall not utilize the services of an advisory organization for such purposes unless the advisory organization has obtained a license under subsection 3.   2. Availability of services. An advisory organization shall not refuse to supply any services for which it is licensed in this state to an insurer authorized to do business in this state and offering to pay the fair and usual compensation for the services.   3. Licensing.   a. Application. An advisory organization applying for a license shall include with its application all of the following:   (1) A copy of its constitution, charter, articles of organization, agreement, association, or incorporation, and a copy of its bylaws, plan of operation, and any other rules or regulations governing the conduct of its business.   (2) A list of its members and subscribers.   (3) The name and address of one or more residents of this state upon whom notices, process affecting it, or orders of the commissioner may be served.   (4) A statement showing its technical qualifications for acting in the capacity for which it seeks a license.   (5) A biography of the ownership and management of the organization.   (6) Any other relevant information and documents that the commissioner may require.   b. Change of circumstances. An advisory organization which has applied for a license shall notify the commissioner of every material change in the facts or in the documents on which its application was based. An amendment to a document filed under this section shall be filed at least thirty days before it becomes effective.   c. Granting of license. If the commissioner finds that the applicant and the natural persons through whom it acts are competent, trustworthy, and technically qualified to provide the services proposed, and that all requirements of the law are met, the commissioner shall issue a license specifying the authorized activity of the applicant. The commissioner shall not issue a license if the proposed activity would tend to create a monopoly or to substantially lessen the competition in any market.   d. Duration. A license issued under this section shall remain in effect for one year unless the license is suspended or revoked. The commissioner may, at any time after hearing, revoke or suspend the license of an advisory organization which does not comply with the requirements and standards of this chapter.  90 Acts, ch 1234, §52  Referred to in §515F.14, 515F.23
IA Code § 515F.9 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 515F - CASUALTY INSURANCE|Section 515F.9 - Insurers and advisory organizations — prohibited activity.

515F.9 Insurers and advisory organizations — prohibited activity.   1. An insurer or advisory organization shall not:   a. Attempt to monopolize, or combine or conspire with any other person to monopolize, an insurance market.   b. Engage in a boycott, on a concerted basis, of an insurance market.   2. a. An insurer shall not agree with any other insurer or with an advisory organization to mandate adherence to or to mandate use of a rate, rating plan, rating schedule, rating rule, policy or bond form, rate classification, rate territory, underwriting rule, survey, inspection, or similar material, except as needed to develop statistical plans permitted by section 515F.11, subsection 1. The fact that two or more insurers, whether or not members or subscribers of an advisory organization, use consistently or intermittently, the same rates, rating plans, rating schedules, rating rules, policy or bond forms, rate classifications, rate territories, underwriting rules, surveys or inspections or similar materials is not sufficient in itself to support a finding that an agreement exists.   b. Two or more insurers having a common ownership or operating in this state under common management or control may act in concert between or among themselves with respect to any matters pertaining to those activities authorized in this chapter as if they constituted a single insurer.   3. An insurer or advisory organization shall not make an arrangement with any other insurer, advisory organization, or other person which has the purpose or effect of restraining trade unreasonably or of substantially lessening competition in the business of insurance.  90 Acts, ch 1234, §53  Referred to in §515F.13, 515F.23
IA Code § 515F.10 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 515F - CASUALTY INSURANCE|Section 515F.10 - Advisory organizations — prohibited activity.

515F.10 Advisory organizations — prohibited activity.   In addition to the other prohibitions contained in this chapter, except as specifically permitted under section 515F.11, an advisory organization shall not compile or distribute recommendations relating to rates that include profit or expenses, other than loss adjustment expenses.  90 Acts, ch 1234, §54  Referred to in §515F.2, 515F.23
IA Code § 515F.11 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 515F - CASUALTY INSURANCE|Section 515F.11 - Advisory organizations — permitted activity.

515F.11 Advisory organizations — permitted activity.   An advisory organization, in addition to other activities not prohibited, may, on behalf of its members and subscribers, do any or all of the following:   1. Develop statistical plans including territorial and class definitions.   2. Collect statistical data from members, subscribers, or any other source.   3. Prepare and distribute prospective loss costs.   4. Prepare and distribute factors, calculations, or formulas pertaining to classifications, territories, increased limits, and other variables.   5. Prepare and distribute manuals of rating rules and rating schedules that do not include final rates, expense provisions, profit provisions, or minimum premiums.   6. Distribute information that is required or directed to be filed with the commissioner.   7. Conduct research and on-site inspections in order to prepare classifications of public fire defenses.   8. Consult with public officials regarding public fire protection as it would affect members, subscribers, and others.   9. Conduct research and collect statistics in order to discover, identify, and classify information relating to causes or prevention of losses.   10. Prepare policy forms and endorsements and consult with members, subscribers, and others relative to their use and application.   11. Conduct research and on-site inspections for the purpose of providing risk information relating to individual structures.   12. Collect, compile, and distribute past and current prices of individual insurers and publish such information.   13. File final rates, at the direction of the commissioner, for residual market mechanisms.   14. Collect, compile, and distribute historical expense information.   15. Furnish any other services, as approved or directed by the commissioner, related to those enumerated in this section.  90 Acts, ch 1234, §55  Referred to in §515F.2, 515F.5, 515F.9, 515F.10, 515F.23
IA Code § 515F.12 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 515F - CASUALTY INSURANCE|Section 515F.12 - Advisory organizations — filing requirements.

515F.12 Advisory organizations — filing requirements.   An advisory organization shall file with the commissioner for approval all prospective loss costs and all supplementary rating information and every change or amendment or modification of any of the foregoing proposed for use in this state. The filings are subject to sections 515F.5 and 515F.6 and other provisions of this chapter relating to filings made by insurers.  90 Acts, ch 1234, §56  Referred to in §515F.23
IA Code § 515F.13 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 515F - CASUALTY INSURANCE|Section 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. (1) 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:   (a) The use of rates which meet the standards prescribed by this chapter.   (b) Activities and practices that are not unfair, unreasonable, or otherwise inconsistent with this chapter.   (2) 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; 2012 Acts, ch 1023, §157  Referred to in §515F.3, 515F.14, 515F.23
IA Code § 515F.14 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 515F - CASUALTY INSURANCE|Section 515F.14 - Examinations.

515F.14 Examinations.   The commissioner may, as often as deemed expedient, make or cause to be made an examination of each advisory organization referred to in section 515F.8 and of each group, association, or other organization referred to in section 515F.13. The reasonable costs of an examination shall be paid by the advisory organization or group, association, or other organization examined. The officers, manager, agents, and employees of the advisory organization, or group, association, or other organization may be examined at any time under oath and shall exhibit all books, records, accounts, documents, or agreements governing its method of operation. In lieu of an examination, the commissioner may accept the report of an examination made by the insurance supervisory official of another state, pursuant to the laws of that state.  90 Acts, ch 1234, §58  Referred to in §515F.23
IA Code § 515F.15 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 515F - CASUALTY INSURANCE|Section 515F.15 - Rate administration.

515F.15 Rate administration.   1. Recording and reporting of loss and expense experience.   a. The commissioner may adopt reasonable rules for use by companies to record and report to the commissioner their rates and other information determined by the commissioner to be necessary or appropriate for the administration of this chapter and the effectuation of its purposes.   b. The commissioner may adopt reasonable rules and statistical plans, which shall then be used by each insurer in the recording and reporting of its loss and expense experience, in order that the experience of all insurers may be made available at least annually in the form and detail necessary to aid the commissioner in determining whether rating systems comply with the standards set forth in section 515F.4. The commissioner may designate one or more advisory organizations or other agencies to assist in gathering the experience and making compilations, and the compilations shall be public documents.   2. Interchange of rating plan data. Reasonable rules and plans may be adopted by the commissioner for the interchange of data necessary for the application of rating plans.   3. Consultation with other states. In order to further uniform administration of rate regulatory laws, the commissioner and every insurer and advisory organization may exchange information and experience data with insurance supervisory officials, insurers, and advisory organizations in other states and may consult with them with respect to the application of rating systems.   4. Rules. The commissioner may make reasonable rules necessary, including definitions of the rate standards contained in section 515F.4, to effect the purposes of this chapter.  90 Acts, ch 1234, §59  Referred to in §515F.23
IA Code § 515F.16 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 515F - CASUALTY INSURANCE|Section 515F.16 - False or misleading information.

515F.16 False or misleading information.   A person, including an insurer, or advisory organization, shall not willfully withhold information which will affect the rates or premiums chargeable under this chapter from, or knowingly give false or misleading information to, the commissioner, a statistical agency designated by the commissioner, an advisory organization, or an insurer. A violation of this section subjects the one guilty of the violation to the penalties provided in section 515F.19.  90 Acts, ch 1234, §60  Referred to in §507B.4, 515F.23
IA Code § 515F.17 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 515F - CASUALTY INSURANCE|Section 515F.17 - Assigned risks.

515F.17 Assigned risks.   Agreements may be made among insurers with respect to the equitable apportionment among them of insurance which may be afforded applicants who are in good faith entitled to, but who are unable to procure, the insurance through ordinary methods, and the insurers may agree among themselves on the use of reasonable rate modifications for such insurance, the agreements and rate modifications to be subject to the approval of the commissioner.  90 Acts, ch 1234, §61  Referred to in §515F.23
IA Code § 515F.18 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 515F - CASUALTY INSURANCE|Section 515F.18 - Exemptions.

515F.18 Exemptions.   The commissioner may, upon the commissioner’s own initiative or upon request of any person, by rule, exempt a market from any or all of the provisions of this chapter, if and to the extent that the exemption is necessary to achieve the purposes of this chapter.  90 Acts, ch 1234, §62  Referred to in §515F.23
IA Code § 515F.19 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 515F - CASUALTY INSURANCE|Section 515F.19 - Penalties.

515F.19 Penalties.   1. The commissioner may, upon a finding that a person or organization has violated a provision of this chapter, impose a civil penalty of not more than ten thousand dollars for each violation, but if the violation is found to be willful, a penalty of not more than twenty-five thousand dollars may be imposed for each violation.   a. The civil penalties may be in addition to any other penalty provided by law.   b. For purposes of this section, an insurer using a rate for which the insurer has failed to file the rate, supplementary rate information, underwriting rules or guides, or supporting information as required by this chapter, has committed a separate violation for each day the failure continues.   2. a. The commissioner may suspend or revoke the license of an advisory organization or insurer which fails to comply with an order of the commissioner within the time limit set by the order, or an extension of the order.   b. The commissioner may determine when a suspension of license becomes effective and it shall remain in effect for the period fixed by the commissioner, unless the commissioner modifies or rescinds the suspension, or until the order upon which the suspension is based is modified, rescinded, or reversed.   3. A penalty shall not be imposed and a license shall not be suspended or revoked except upon a written order of the commissioner stating the commissioner’s findings, made after hearing.   4. A penalty collected under this section shall be deposited as provided in section 505.7.  90 Acts, ch 1234, §63; 2009 Acts, ch 181, §81  Referred to in §515F.16, 515F.23