Iowa § 515F.31 Purpose

Iowa Statutes

§ 515F.31 — Purpose

Iowa § 515F.31

Title XIIICOMMERCE

Ch. 515FCASUALTY INSURANCE

This text of Iowa § 515F.31 (Purpose) 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 § 515F.31 (2026).

Text

The purposes of this subchapter include all of the following:

1.To make basic property insurance available to qualified applicants with the least possible administrative detail and expense.

2.To establish a plan, an industry placement facility, and a joint reinsurance association for the equitable distribution and placement of risks among insurers.

3.To utilize fully the voluntary insurance market as a source of essential property insurance.

4.To encourage the delivery of basic property insurance at the most reasonable cost possible, provided that insurance pricing by the FAIR plan is actuarially self-supporting and does not actively compete with insurance pricing in the voluntary insurance market.

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The purposes of this subchapter include all of the following:
1. To make basic property insurance available to qualified applicants with the least
possible administrative detail and expense.
2. To establish a plan, an industry placement facility, and a joint reinsurance association
for the equitable distribution and placement of risks among insurers.
3. To utilize fully the voluntary insurance market as a source of essential property
insurance.
4. To encourage the delivery of basic property insurance at the most reasonable cost
possible, provided that insurance pricing by the FAIR plan is actuarially self-supporting and
does not actively compete with insurance pricing in the voluntary insurance market.