1. The commissioner may appoint a staff of actuaries as necessary to carry out the duties of the division. The actuarial staff shall do all of the following:

 a. Perform analyses of rate filings.
 b. Perform audits of submitted loss data.
 c. Conduct rate hearings and serve as expert witnesses.
 d. Prepare, review, and dispense data on the insurance business.
 e. Assist in public education concerning the insurance business.
 f. Identify any impending problem areas in the insurance business.
 g. Assist in examinations of insurance companies.

Terms Used In Iowa Code 505.15

  • Commissioner: means the commissioner of insurance. See Iowa Code 510.1B
  • division: means the insurance division. See Iowa Code 505.1
  • following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
  • Insurer: means a person duly licensed in this state as an insurance company pursuant to this subtitle. See Iowa Code 510.1B
 2. The commissioner may retain, or the commissioner’s designee may request that the commissioner retain, attorneys, appraisers, independent actuaries, independent certified public accountants, or other professionals or specialists to assist the division or the consumer advocate bureau in carrying out its duties in regard to rate filing reviews. The reasonable cost of retaining such professionals and specialists shall be borne by the insurer which is the subject of the rate filing review.
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