Iowa Earns an A for Insurance Regulation Environment

Date: March 01, 2016 Last Edit: March 02, 2016

Study praises Iowa's fiscal efficiency and workers' compensation competitiveness.

Iowa Earns an A for Insurance Regulation Environment

Regulatory relief is always a priority for Iowa small businesses.

But they can find some consolation from R Street Institute’s Insurance Regulation Report Card, which awarded the state an A for the second year in a row.

R Street Institute is a nonprofit group that advocates for free market solutions and limited, efficient government. Besides earning the top letter grade, Iowa was ranked third-best in the country for its insurance regulation environment.

Both the letter grade and ranking were based on how a state measured up according to the following questions:

  • How free are consumers to choose the insurance products they want?
  • How free are insurers to provide the insurance products consumers want?
  • How effectively are states discharging their duties to monitor insurer solvency, police fraud and consumer abuse and foster competitive, private insurance markets?

Iowa’s list of strengths included low politicization, fiscal efficiency and workers’ compensation competitiveness, according to the analysis, which did not identify any weakness for the state.

Iowa was one of five states in the nation with an A grade. Three other states—including neighboring Nebraska—received an A-.

Read the full report here.

Related Content: Small Business News | Economy | Insurance | Iowa

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