Iowa Code » Chapter 515A — WORKERS’ COMPENSATION LIABILITY INSURANCE RATES
Iowa Code

Iowa Code § 515A.3 (2026)

Making of rates

✓ current as of July 2026
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1. Rates shall be made in accordance with the following provisions:

a. Rates shall not be excessive, inadequate, or unfairly discriminatory.

b. Due consideration shall be given to past and prospective loss experience within and outside this state; to catastrophe hazards; to a reasonable margin for underwriting profit and contingencies; to dividends, savings, or unabsorbed premium deposits allowed or returned by insurers to their policyholders, members, or subscribers; to past and prospective expenses\n\nTue Dec 09 22:04:52 2025 Iowa Code 2026, Chapter 515A (37, 0) §515A.3, WORKERS’ COMPENSATION LIABILITY INSURANCE RATES 2\n\nboth countrywide and those specially applicable to this state; and to all other relevant factors within and outside this state.

c. The systems of expense provisions included in the rates for use by any insurer or group of insurers may differ from those of other insurers or group of insurers to reflect the requirements of the operating methods of any such insurer or group of insurers with respect to any kind of insurance, or with respect to any subdivision or combination thereof for which subdivision or combination separate expense provisions are applicable.

d. Risks may be grouped by classifications for the establishment of rates and minimum premiums. Classification rates may be modified to produce rates for individual risks in accordance with rating plans which establish standards for measuring variations in hazards or expense provisions, or both. Such standards may measure any differences among risks that can be demonstrated to have a probable effect upon losses or expenses.

2. Except to the extent necessary to meet the provisions of paragraph “a” of subsection 1 of this section, uniformity among insurers in any matters within the scope of this section is neither required nor prohibited. [C50, 54, 58, 62, §515A.3, 515B.3; C66, 71, 73, 75, 77, 79, 81, §515A.3] 2008 Acts, ch 1123, §30 Referred to in §515A.4, 515A.7, 515A.8, 515A.13 \n

Notes of Decisions
Cited in 3 cases, 1988–2013 · leading case: Sheet Metal Contractors of Iowa v. Comm'r of Ins. of the State, 427 N.W.2d 859 (Iowa 1988).
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Sheet Metal Contractors of Iowa v. Comm'r of Ins. of the State, 427 N.W.2d 859 (Iowa 1988). · cites it 2× “” Iowa Code section 515A.3(1) provides, in part: *868 Rates shall be made m accordance with the following provisions: a.”
The Travelers Indem. Co. Vs. D.j. Franzen, Inc., 792 N.W.2d 242 (Iowa 2010). “§ 515A.3(1)(5); see also Iowa Admin. Code r.”
Chartis Ins. F/K/A Am. Int'l Grp., Inc. v. Iowa Ins. Comm'r, 831 N.W.2d 119 (Iowa 2013). · cites it 3× “To achieve this statutory purpose, Iowa Code section 515A.3 explicitly requires that when rates are made, they “shall not be excessive, inadequate, or unfairly discriminatory.”
Iowa Code § 515A.3(1): 1 case
Sheet Metal Contractors of Iowa v. Comm'r of Ins. of the State, 427 N.W.2d 859 (Iowa 1988). “” Iowa Code section 515A.3(1) provides, in part: *868 Rates shall be made m accordance with the following provisions: a.”
Iowa Code § 515A.3(1)(5): 1 case
The Travelers Indem. Co. Vs. D.j. Franzen, Inc., 792 N.W.2d 242 (Iowa 2010). “§ 515A.3(1)(5); see also Iowa Admin. Code r.”
Iowa Code § 515A.3(l)(a): 1 case
Chartis Ins. F/K/A Am. Int'l Grp., Inc. v. Iowa Ins. Comm'r, 831 N.W.2d 119 (Iowa 2013). “To achieve this statutory purpose, Iowa Code section 515A.3 explicitly requires that when rates are made, they “shall not be excessive, inadequate, or unfairly discriminatory.”
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