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
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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
11 LICENSING OF INSURANCE PRODUCERS, §522B.14
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
becomeapartofthecommissioner’srecordandaccompanyeverycopyofareportdistributed
or disclosed for any reason about the insurance producer, as permitted under subsection 8.
6. a. 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.
b. 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
pleadspecificallyinanyallegationthatthissectiondoesnotapplybecausethepersonmaking
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. a. 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,
oradmissibleinevidenceinanyprivatecivilaction. However, thecommissionerisauthorized
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.
b. 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. a. 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.
b. 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
§522B.14, LICENSING OF INSURANCE PRODUCERS 12
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.
c. Thecommissionermayenterintoagreementsgoverningsharinganduseofinformation
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
regardingfinal, adjudicatedactionsthatareconsideredpublicrecordssubjecttoexamination
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.