Iowa Code 515F.10 – Advisory organizations — prohibited activity
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Terms Used In Iowa Code 515F.10
- Advisory organization: means an entity, including its affiliates or subsidiaries, which either has two or more member insurers or is controlled either directly or indirectly by two or more insurers, and which assists insurers in ratemaking-related activities such as enumerated in sections 515F. See Iowa Code 515F.2
- Expenses: means that portion of a rate attributable to acquisition, field supervision, collection expenses, general expenses, taxes, licenses, and fees. See Iowa Code 515F.2
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.