Iowa Statutes
§ 515C.4 — Contingency reserve
Iowa § 515C.4
This text of Iowa § 515C.4 (Contingency reserve) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Iowa Code § 515C.4 (2026).
Text
For the protection of the people of this state and for the purpose of protecting against the
effect of adverse economic cycles, the company shall establish a contingency reserve. The
company shall annually contribute fifty percent of the earned premiums to this reserve. The
earned premiums so reserved may be released annually after the period of time required by
the commissioner, provided that said time shall not be less than one hundred twenty months.
However, subject to the approval of the commissioner, this reserve may be available only
for loss payments, when the loss ratio (incurred losses to premiums earned) exceeds twenty
percent. This amount so used shall reduce the next subsequent annual release to surplus
from the established contingency reserve.
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Legislative History
[C66, 71, 73, 75, 77, 79, 81, §515C.4]
Nearby Sections
11
§ 515C.1
Definition§ 515C.10
Law applicable§ 515C.2
Eligibility for insurance§ 515C.3
Bases for computations§ 515C.4
Contingency reserve§ 515C.5
Limit of outstanding liability§ 515C.6
Determination of loss reserves§ 515C.7
Rate-making provisions§ 515C.8
Policy forms approved§ 515C.9
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Bluebook (online)
Iowa § 515C.4, Counsel Stack Legal Research, https://law.counselstack.com/statute/ia/515C.4.