2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 508E - VIATICAL SETTLEMENT CONTRACTS
508E.6 - REPORTING REQUIREMENTS AND PRIVACY.

        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 annual statement containing such
      information as the commissioner may adopt by rule.  In addition to
      any other requirements, the annual statement shall specify the total
      number, aggregate face amount, and life settlement proceeds of
      policies settled during the immediately preceding calendar year,
      together with a breakdown of the information by policy issue year.
      The annual statement shall also include the names of the insurance
      companies whose policies 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 of this state.  Notwithstanding chapter 22, individual
      transaction data regarding the business of 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 a confidential basis.
         2.  Except as otherwise allowed or required by law, a viatical
      settlement provider, viatical settlement broker, insurance company,
      insurance producer, information bureau, rating agency or company, or
      any other person with actual knowledge of an insured's identity shall
      not disclose that identity as an insured, or the insured's financial
      or medical information to any 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.  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 insured have
      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