§ 515f-6

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 thischapter, written notice of disapproval shall be sent to the insurer or advisory organizationwhich made the filing, specifying in what respects the filing fails to meet the requirementsof this chapter and stating that the filing shall not become effective. If a filing is disapprovedby the commissioner, the insurer or advisory organization, may request a hearing on thedisapproval within thirty days. The insurer bears the burden of proving compliance with thestandards 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 thediscontinuance of use of the rate. The order of discontinuance may be issued only after ahearing with at least ten days’ prior notice for all insurers affected by the order. The ordermust be in writing and state the grounds for the order.

order of discontinuance may be issued only after ahearing with at least ten days’ prior notice for all insurers affected by the order. The ordermust be in writing and state the grounds for the order. The order shall state when, within areasonable 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 theperiod 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 shallspecify the grounds to be relied upon by the applicant. If the commissioner finds that theapplication is made in good faith, that the applicant would be so aggrieved if the applicant’sgrounds are established, and that the grounds otherwise justify holding a hearing, a hearingshall 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 madethat filing. 4.

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 madethat 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 filingfails to meet the requirements of this chapter, and stating when, within a reasonable periodafter the order is issued, the filing shall no longer be in effect. Copies of the order shall besent 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 theperiod set forth in the order. 90 Acts, ch 1234, §50; 2012 Acts, ch 1023, §126Referred to in §515F.12, 515F.23 Sat Dec 23 00:48:49 2023 Iowa Code 2024, Section 515F.6 (21, 0)