Iowa Code 515B.13 – Recognition of assessments in rates
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Iowa Code 515B.13
- Association: means the Iowa insurance guaranty association created pursuant to section 515B. See Iowa Code 515B.2
- Insurer: means an insurer licensed to transact insurance business in this state under either chapter 515 or chapter 520, either at the time the policy was issued or when the insured event occurred. See Iowa Code 515B.2
The rates and premiums charged for insurance policies to which this chapter applies shall include amounts sufficient to recoup a sum equal to the amounts paid to the association by the member insurer less any amounts returned to the member insurer by the association, and such rates shall not be deemed excessive as a result of containing such recoupment allowances.