515F.24 Filing of rates in a competitive market. 1. Subject to the inland marine exception specified in section 515F.5, subsection 1, a competitive filing shall become effective when filed and shall be deemed to meet therequirements of section 515F.4 as long as the filing remains in effect unless it is disapprovedupon review by the commissioner. 2. In a competitive market, every insurer shall file with the commissioner all rates and supplementary rate information which are used in this state. The rates and supplementaryrate information shall be filed not later than fifteen days after the effective date of the rates. 3. In a competitive market, if the commissioner finds that an insurer’s rates require closer supervision because of the insurer’s financial condition or unfairly discriminatoryrating practices, the insurer shall file with the commissioner at least thirty days priorto the effective date of the rates all the rates and supplementary rate information andsupporting information as prescribed by the commissioner. Upon application by the filer,the commissioner may authorize an earlier effective date. s all the rates and supplementary rate information andsupporting information as prescribed by the commissioner. Upon application by the filer,the commissioner may authorize an earlier effective date. 87 Acts, ch 132, §10CS87, §515A.2490 Acts, ch 1234, §67, 77C91, §515F.24Referred to in §515F.20, 515F.21 Sat Dec 23 00:49:00 2023 Iowa Code 2024, Section 515F.24 (17, 0)
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