2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 507 - EXAMINATION OF INSURANCE COMPANIES
507.14 - CONFIDENTIAL DOCUMENTS -- EXCEPTIONS.

        507.14  CONFIDENTIAL DOCUMENTS -- EXCEPTIONS.
         1.  A preliminary report of an examination of a domestic or
      foreign insurer, and all notes, work papers, or other documents
      related to an examination of an insurer are confidential records
      under chapter 22 except when sought by the insurer to whom they
      relate, an insurance regulator of another state, or the national
      association of insurance commissioners, and shall be privileged and
      confidential in any judicial or administrative proceeding except any
      of the following:
         a.  An action commenced by the commissioner under chapter
      507C.
         b.  An administrative proceeding brought by the insurance
      division under chapter 17A.
         c.  A judicial review proceeding under chapter 17A brought by
      an insurer to whom the records relate.
         d.  An action or proceeding which arises out of the criminal
      provisions of the laws of this state or the United States.
         e.  An action brought in a shareholders' derivative suit
      against an insurer.
         f.  An action brought to recover moneys or to recover upon an
      indemnity bond for embezzlement, misappropriation, or misuse of
      insurer funds.
         2.  A report of an examination of a domestic or foreign insurer
      which is preliminary under the rules of the division is a
      confidential record under chapter 22 except when sought by the
      insurer to which the report relates or an insurance regulator of
      another state, and is privileged and confidential in any judicial or
      administrative proceeding.
         3.  All work papers, notes, recorded information, documents,
      market conduct annual statements, and copies thereof that are
      produced or obtained by or disclosed to the commissioner or any other
      person in the course of analysis by the commissioner of the financial
      condition or market conduct of an insurer are confidential records
      under chapter 22 and shall be privileged and confidential in any
      judicial or administrative proceeding except any of the following:
         a.  An action commenced by the commissioner under chapter
      507C.
         b.  An administrative proceeding brought by the insurance
      division under chapter 17A.
         c.  A judicial review proceeding under chapter 17A brought by
      an insurer to whom the records relate.
         d.  An action or proceeding which arises out of the criminal
      provisions of the laws of this state or the United States.
         4.  Confidential documents, materials, information, administrative
      or judicial orders, or other actions may be disclosed to a regulatory
      official of any state, federal agency, or foreign country provided
      that the recipients are required, under their law, to maintain their
      confidentiality.  Confidential records may be disclosed to the
      national association of insurance commissioners provided that the
      association certifies by written statement that the confidentiality
      of the records will be maintained.
         5.  A financial statement filed by an employer self-insuring
      workers' compensation liability pursuant to section 87.11, or the
      working papers of an examiner or the division in connection with
      calculating appropriate security and reserves for the self-insured
      employer are confidential records under chapter 22 except when sought
      by the employer to which the financial statement or working papers
      relate or an insurance or workers' compensation self-insurance
      regulator of another state, and are privileged and confidential in
      any judicial or administrative proceeding.  The financial information
      of a nonpublicly traded employer which self-insures for workers'
      compensation liability pursuant to section 87.11 is protected as
      proprietary trade secrets to the extent consistent with the
      commissioner's duties to oversee the security of self-insured
      workers' compensation liability.
         6.  Analysis notes, work papers, or other documents related to the
      analysis of an insurer are confidential records under chapter 22.  

         Section History: Early Form

         [S13, § 1821-d; C24, 27, 31, 35, 39, § 8638; C46, 50, 54, 58,
      62, 66, 71, 73, 75, 77, 79, 81, § 507.14] 

         Section History: Recent Form

         90 Acts, ch 1234, § 3; 91 Acts, ch 26, § 34; 92 Acts, ch 1117, §
      6; 2004 Acts, ch 1110, §17; 2006 Acts, ch 1117, §20
         Referred to in § 22.7, 508E.7, 515H.3, 616.15
         Statements of actuarial opinion, see §515H.3