Any insurer or rating organization aggrieved by any order or decision of the director made without a hearing, may, within thirty days after notice of the order to the insurer or organization, make written request to the director for a hearing thereon. The director shall issue a notice of hearing pursuant to chapter 1-26 within twenty days after receipt of a request and shall give not less than ten days' written notice of the time and place of the hearing. Within a reasonable time after the hearing the director shall affirm, reverse, or modify the director's previous action, specifying the reasons therefor. Pending the hearing and decision thereon the director may suspend or postpone the effective date of the director's previous action.
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