Iowa commissioner approves comp rate filing

Iowa Insurance Commissioner Doug Ommen has approved a workers compensation rate filing with an overall decrease of 3%, the commissioner announced in a news release Friday.

The Boca Raton, Florida-based National Council on Compensation Insurance submitted the proposed filing to the Iowa’s Insurance Division on Aug. 30. The Division published the proposal in September and no requests for a hearing on the filing were received, according to the release.

The rate filing proposes an overall decrease in voluntary and assigned risk rates of 3% from the current rates that became effective on Jan. 1, 2019. The proposed rate change is not “excessive, inadequate or unfairly discriminatory,” Commissioner Ommen said in the release. 

The approved rate filing will take effect Jan. 1, 2020.