Protecting Iowans and their pocketbooks

Senator Rich Olive of Story City, formerly an insurance agent for 30 years, and Steve Warnstadt, who serves as Chair of the Commerce Committee, are two strong proponents of the new legislation to protect working Iowa families.

Two bills to help protect middle-class Iowans and their pocketbooks passed the Senate on February 2.

Senate File 2075 protects Iowans from unreasonable increases in insurance costs. The bill prevents insurance companies from increasing your rates just because your family has been hit by a military deployment, job loss, death or serious illness, identity theft or natural disaster. These events can lower your credit score, which insurance companies then use to hike your rates.

The bill will require insurers to tell you when your rates are being raised due to a lower credit score. Then, you’ll have a chance to reverse the rate increase by proving you suffered an extraordinary life event beyond your control. If necessary, you’ll be able to file an appeal with the Iowa Insurance Consumer Advocate.

Senate File 2108 helps protect Iowans from shady car repair shops that perform services without authorization because Democrats believe Iowans deserve to know up front how much repairs will cost before a service is performed.

Under current law, if a repair shop makes expensive repairs without permission, they can keep your car until the dispute is resolved. New legislation will allow the Attorney General to conduct an immediate investigation and let you get your car back while the dispute is resolved.