§ 508e-6

508E.6 Reporting requirements and privacy. 1. For any policy settled within five years of policy issuance, each viatical settlement provider shall file with the commissioner on or before March 1 of each year an annualstatement containing such information as the commissioner may adopt by rule. In additionto any other requirements, the annual statement shall specify the total number, aggregateface amount, and life settlement proceeds of policies settled during the immediatelypreceding calendar year, together with a breakdown of the information by policy issueyear. The annual statement shall also include the names of the insurance companies whosepolicies have been settled and the viatical settlement brokers that have settled said policies.Such information shall be limited to only those transactions where the viator is a resident ofthis state. Notwithstanding chapter 22, individual transaction data regarding the businessof viatical settlements or data that could compromise the privacy of personal, financial,and health information of the viator or insured shall be filed with the commissioner on aconfidential basis. 2.

f viatical settlements or data that could compromise the privacy of personal, financial,and health information of the viator or insured shall be filed with the commissioner on aconfidential basis. 2. Except as otherwise allowed or required by law, a viatical settlement provider, viatical settlement broker, insurance company, insurance producer, information bureau, ratingagency or company, or any other person with actual knowledge of an insured’s identity shallnot disclose that identity as an insured, or the insured’s financial or medical information toany other person unless the disclosure is any of the following: a. Necessary to effect a viatical settlement between the viator and a viatical settlement provider and the viator and insured have provided prior written consent to the disclosure. b. Provided in response to an investigation or examination by the commissioner or any other governmental officer or agency or pursuant to the requirements of section 508E.15,subsection 3. c. A term of or condition to the transfer of a policy by one viatical settlement provider to another viatical settlement provider. d.

or pursuant to the requirements of section 508E.15,subsection 3. c. A term of or condition to the transfer of a policy by one viatical settlement provider to another viatical settlement provider. d. Necessary to permit a financing entity, related provider trust, or special purpose entity to finance the purchase of policies by a viatical settlement provider and the viator and insuredhave provided prior written consent to the disclosure. e. Necessary to allow the viatical settlement provider, viatical settlement broker, or their authorized representatives to make contacts for the purpose of determining health status. f. Required to purchase stop-loss coverage or financial guaranty insurance. 2008 Acts, ch 1155, §6 Sat Dec 23 00:41:25 2023 Iowa Code 2024, Section 508E.6 (16, 0)