Iowa Admin. Code r. 191-48.8

Current through Register Vol. 46, No. 21, April 17, 2024

Rule 191-48.8 - Examination or investigations

(1)Authority, scope and scheduling of examinations. In addition to the authority, scope and scheduling of examinations set forth in Iowa Code section 508E7., the following provisions shall apply:

a. The commissioner may investigate suspected fraudulent viatical settlement acts and persons engaged in the business of viatical settlements.

b. The provisions of Iowa Code chapter 507 shall apply to viatical settlement providers and viatical settlement brokers. The expense of examinations shall be assessed against the viatical settlement provider in the same manner as insurers are assessed for examinations.

c. Neither the commissioner nor any person that received the documents, material or other information while acting under the authority of the commissioner, including the NAIC and its affiliates and subsidiaries, shall be permitted to testify in any private civil action concerning any confidential documents, materials or information subject to this subrule.

(2)Immunity from liahiUty No cause of action shall arise nor shall any liability be imposed against the commissioner, the commissioner's authorized representatives or any examiner appointed by the commissioner for any statements made or conduct performed in good faith while carrying out the provisions of this rule or of Iowa Code chapter 508E.

Iowa Admin. Code r. 191-48.8

ARC 7729B, lAB 4/22/09, effective 4/3/09