2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 522B - LICENSING OF INSURANCE PRODUCERS
522B.14 - NOTIFICATION TO COMMISSIONER OF TERMINATION -- PENALTIES.

        522B.14  NOTIFICATION TO COMMISSIONER OF TERMINATION
      -- PENALTIES.
         1.  An insurer or authorized representative of the insurer that
      terminates the appointment, employment, contract, or other insurance
      business relationship with an insurance producer shall notify the
      commissioner within thirty days following the effective date of the
      termination, using a format prescribed by the commissioner, if the
      reason for termination is one of the reasons set forth in section
      522B.11, or the insurer has knowledge the insurance producer was
      found by a court, government body, or self-regulatory organization
      authorized by law to have engaged in any of the activities set forth
      in section 522B.11.  Upon request of the commissioner, the insurer or
      authorized representative of the insurer shall provide additional
      information, documents, records, or other data pertaining to the
      termination or activity of the insurance producer.
         2.  An insurer or authorized representative of the insurer that
      terminates the appointment, employment, contract, or other insurance
      business relationship with an insurance producer for any reason not
      set forth in section 522B.11 shall notify the commissioner within
      thirty days following the effective date of the termination, using a
      format prescribed by the commissioner.  Upon request of the
      commissioner, the insurer shall provide additional information,
      documents, records, or other data pertaining to the termination.
         3.  The insurer or the authorized representative of the insurer
      shall promptly notify the commissioner using a format prescribed by
      the commissioner if, upon further review or investigation, the
      insurer or authorized representative of the insurer discovers
      additional information that would have been reportable to the
      commissioner pursuant to subsection 1, had the insurer then known of
      its existence.
         4.  Within fifteen days after making the notification required by
      this section, the insurer shall mail a copy of the notification to
      the insurance producer at the insurance producer's last known
      address.  If the insurance producer is terminated for any of the
      reasons set forth in section 522B.11, the insurer shall provide a
      copy of the notification to the insurance producer at the insurance
      producer's last known address by restricted certified mail, as
      defined in section 618.15, or by overnight delivery using a
      nationally recognized carrier.
         5.  Within thirty days after the insurance producer has received
      the original or additional notification, the insurance producer may
      file written comments concerning the substance of the notification
      with the commissioner.  The insurance producer, by the same means,
      shall simultaneously send a copy of the comments to the reporting
      insurer, and the comments shall become a part of the commissioner's
      record and accompany every copy of a report distributed or disclosed
      for any reason about the insurance producer, as permitted under
      subsection 8.
         6.  In the absence of actual malice, an insurer, the authorized
      representative of the insurer, an insurance producer, the
      commissioner, or an organization of which the commissioner is a
      member and that compiles the information and makes it available to
      other commissioners or regulatory or law enforcement agencies shall
      not be subject to civil liability.  A civil cause of action of any
      nature shall not arise against any of these entities or their
      respective agents or employees, as a result of any statement or
      information required by or provided pursuant to this section or any
      information relating to any statement that may be requested in
      writing by the commissioner from an insurer or insurance producer; or
      a statement by a terminating insurer or insurance producer to an
      insurer or insurance producer limited solely and exclusively to
      whether a termination for cause under subsection 1 was reported to
      the commissioner, provided that the propriety of any termination for
      cause under subsection 1 is certified in writing by an officer or
      authorized representative of the insurer or insurance producer
      terminating the relationship.
         In any action brought against a person that may have immunity
      under this section for making any statement required by this section
      or providing any information relating to any statement that may be
      requested by the commissioner, the party bringing the action shall
      plead specifically in any allegation that this section does not apply
      because the person making the statement or providing the information
      did so with actual malice.  This section shall not abrogate or modify
      any existing statutory or common law privileges or immunities.
         7.  Any document, material, or other information in the control or
      possession of the insurance division that is furnished by an insurer,
      insurance producer, or an employee or agent of such insurer or
      insurance producer acting on behalf of the insurer or insurance
      producer, or obtained by the commissioner in an investigation
      pursuant to this section is considered a confidential record and
      shall not be subject to subpoena, or subject to discovery, or
      admissible in evidence in any private civil action.  However, the
      commissioner is authorized to use such document, material, or other
      information in the furtherance of any regulatory or legal action
      brought as a part of the commissioner's duties.
         Neither the commissioner nor any person who received any document,
      material, or other information while acting under the authority of
      the commissioner shall be permitted or required to testify in any
      private civil action concerning any confidential document, material,
      or information subject to this section.
         8.  The commissioner may share documents, materials, or other
      information, including the confidential and privileged documents,
      materials, or information subject to subsection 7, with other state,
      federal, and international regulatory agencies, with the national
      association of insurance commissioners, its affiliates or
      subsidiaries, and with state, federal, and international law
      enforcement authorities, provided that the recipient agrees to
      maintain the confidentiality and privileged status of the document,
      material, or other information.
         The commissioner may receive documents, materials, or information,
      including otherwise confidential and privileged documents, materials,
      or information, from the national association of insurance
      commissioners, its affiliates or subsidiaries, and from regulatory
      and law enforcement officials of other foreign or domestic
      jurisdictions, and shall maintain as confidential or privileged any
      document, material, or information received with notice or the
      understanding that it is confidential or privileged under the laws of
      the jurisdiction that is the source of the document, material, or
      information.
         The commissioner may enter into agreements governing sharing and
      use of information consistent with this subsection.
         9.  A waiver of any applicable privilege or claim of
      confidentiality in the documents, materials, or information shall not
      occur as a result of disclosure to the commissioner or sharing of
      information received under this section.
         10.  Nothing in this chapter shall prohibit the commissioner from
      releasing information regarding final, adjudicated actions that are
      considered public records subject to examination and copying under
      chapter 22 to a database or other clearinghouse service maintained by
      the national association of insurance commissioners, or an affiliate
      or subsidiary of the national association of insurance commissioners.

         11.  An insurer, the authorized representative of the insurer, or
      an insurance producer that fails to report as required under this
      section, or that is found to have reported with actual malice by a
      court of competent jurisdiction, after notice and hearing, may have
      its license or certificate of authority suspended or revoked and may
      be penalized as provided in section 522B.17.  

         2001 Acts, ch 16, §28, 37; 2001 Acts, ch 176, §72