The director or his designee may:

1. (1) disapprove a previously approved rate for any classification for workers' compensation insurance upon a finding that the rate for that classification is excessive, inadequate, or unfairly discriminatory;
2. (2) require the division of a particular classification into separate classifications, or the joining of separate classifications into one classification, upon a finding that such action is in the public interest;
3. (3) direct that a particular risk be classified in a particular classification upon a finding that a risk is classified incorrectly;

4. (4) disapprove an experience modification rate for workers' compensation insurance upon a finding that the rate is excessive, inadequate, or unfairly discriminatory.

   Appeals to the department must be filed within one year of policy expiration date or cancellation date, whichever comes first.