Bill Text: IA SF2291 | 2015-2016 | 86th General Assembly | Introduced

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Bill Title: A bill for an act relating to various matters involving insurance and the insurance division of the department of commerce, and including penalties and applicability dates. (Formerly SSB 3019.)

Spectrum: Committee Bill

Status: (Introduced - Dead) 2016-04-12 - Withdrawn. S.J. 673. [SF2291 Detail]

Download: Iowa-2015-SF2291-Introduced.html

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Senate File 2291 - Introduced




                                 SENATE FILE       
                                 BY  COMMITTEE ON COMMERCE

                                 (SUCCESSOR TO SSB
                                     3019)

                                      A BILL FOR

  1 An Act relating to various matters involving insurance and
  2    the insurance division of the department of commerce, and
  3    including penalties and applicability dates.
  4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
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PAG LIN



  1  1    Section 1.  Section 502.305, subsection 2, Code 2016, is
  1  2 amended to read as follows:
  1  3    2.  Filing.  Except as provided in subsection 10 section
  1  4 502.302, subsection 3, and section 502.304A, subsection 3,
  1  5 paragraph "g", a person who files a registration statement
  1  6 or a notice filing shall pay a filing fee of one=tenth of
  1  7 one percent of the proposed aggregate sales price of the
  1  8 securities to be offered to persons in this state pursuant to
  1  9 the registration statement or notice filing. However, except
  1 10 as provided in subsection 10, section 502.302, subsection 1,
  1 11 paragraph "a", and section 502.304A, subsection 3, paragraph
  1 12 "g", the annual filing fee shall not be less than fifty dollars
  1 13 or more than one thousand dollars as prescribed by rules
  1 14 adopted pursuant to chapter 17A.  The administrator shall
  1 15 retain the filing fee even if the notice filing is withdrawn or
  1 16 the registration is withdrawn, denied, suspended, revoked, or
  1 17 abandoned. The fees collected under this subsection shall be
  1 18 deposited as provided in section 505.7. The administrator may
  1 19 adopt rules requiring a filing to be made electronically. The
  1 20 rules may provide for such electronic filing either directly
  1 21 with the administrator or with a designee of the administrator.
  1 22 The rules may require that the filer pay any reasonable costs
  1 23 charged by the designee of the administrator for processing the
  1 24 filings and that the filer submit any fees paid through the
  1 25 designee.
  1 26    Sec. 2.  Section 502.305, subsection 10, Code 2016, is
  1 27 amended by striking the subsection.
  1 28    Sec. 3.  Section 502.306, subsection 1, paragraph a, Code
  1 29 2016, is amended to read as follows:
  1 30    a.  The registration statement as of its effective date
  1 31 or before the effective date in the case of an order denying
  1 32 effectiveness, an amendment under section 502.305, subsection
  1 33 10, as of its effective date, or a report under section
  1 34 502.305, subsection 9, is incomplete in a material respect or
  1 35 contains a statement that, in the light of the circumstances
  2  1 under which it was made, was false or misleading with respect
  2  2 to a material fact.
  2  3    Sec. 4.  NEW SECTION.  507E.3A  Fraudulent sales practices ==
  2  4 penalty.
  2  5    1.  A person commits a class "D" felony if the person, with
  2  6 the intent to defraud another person in connection with any
  2  7 sale, solicitation, or negotiation of insurance in this state,
  2  8 willfully does any of the following:
  2  9    a.  Employs any deception, device, scheme, or artifice to
  2 10 defraud.
  2 11    b.  Misrepresents, conceals, or suppresses any material fact.
  2 12    c.  Engages in any act, practice, or course of business which
  2 13 operates as a fraud or deceit upon any person.
  2 14    2.  Notwithstanding subsection 1, a person commits a class
  2 15 "C" felony if the person violates subsection 1, and such
  2 16 violation results in a loss of more than ten thousand dollars.
  2 17    Sec. 5.  NEW SECTION.  514K.2  Health carrier disclosures ==
  2 18 public internet sites.
  2 19    1.  A carrier that provides small group health coverage
  2 20 pursuant to chapter 513B or individual health coverage pursuant
  2 21 to chapter 513C and that offers for sale a policy, contract,
  2 22 or plan that covers the essential health benefits required
  2 23 pursuant to section 1302 of the federal Patient Protection and
  2 24 Affordable Care Act, Pub. L. No. 111=148, and its implementing
  2 25 regulations, shall provide to each of its enrollees at the
  2 26 time of enrollment, and shall make available to prospective
  2 27 enrollees and enrollees, insurance producers licensed under
  2 28 chapter 522B, and the general public, on the carrier's
  2 29 internet site, all of the following information in a clear and
  2 30 understandable form for use in comparing policies, contracts,
  2 31 and plans, and coverage and premiums:
  2 32    a.  Any exclusions from coverage and any restrictions on
  2 33 the use or quantity of covered items and services in each
  2 34 category of benefits, including prescription drugs and drugs
  2 35 administered by a physician or clinic.
  3  1    b.  Any items or services, including prescription drugs, that
  3  2 have a coinsurance requirement where the cost=sharing required
  3  3 depends on the cost of the item or service.
  3  4    c.  The specific prescription drugs available on the
  3  5 carrier's formulary, the specific prescription drugs covered
  3  6 when furnished by a physician or clinic, and any clinical
  3  7 prerequisites or prior authorization requirements for coverage
  3  8 of the drugs.
  3  9    d.  The specific types of specialists available in the
  3 10 carrier's network and the specific physicians included in the
  3 11 carrier's network.
  3 12    e.  The process for an enrollee to appeal a carrier's denial
  3 13 of coverage of an item or service prescribed or ordered by the
  3 14 enrollee's treating physician.
  3 15    f.  How medications will specifically be included in or
  3 16 excluded from the deductible, including a description of all
  3 17 out=of=pocket costs that may not apply to the deductible for a
  3 18 prescription drug.
  3 19    2.  The commissioner shall adopt rules pursuant to chapter
  3 20 17A to administer this section.
  3 21    3.  The commissioner may impose any of the sanctions provided
  3 22 under chapter 507B for a violation of this section.
  3 23    Sec. 6.  Section 521A.1, Code 2016, is amended by adding the
  3 24 following new subsections:
  3 25    NEW SUBSECTION.  5A.  "Group=wide supervisor" means a
  3 26 regulatory official who is authorized, and who is determined
  3 27 or acknowledged by the commissioner pursuant to section
  3 28 521A.6B to have sufficient significant contacts with an
  3 29 internationally active insurance group, to engage in conducting
  3 30 and coordinating group=wide supervision of the internationally
  3 31 active insurance group.
  3 32    NEW SUBSECTION.  7A.  "Internationally active insurance group"
  3 33 means an insurance holding company system that includes an
  3 34 insurer registered under section 521A.4 and that meets all of
  3 35 the following criteria:
  4  1    a.  The insurance holding company system has premiums written
  4  2 in at least three countries.
  4  3    b.  The percentage of gross premiums written outside the
  4  4 United States is at least ten percent of the insurance holding
  4  5 company system's total gross written premiums.
  4  6    c.  Based on a three=year rolling average, the total assets
  4  7 of the insurance holding company system are at least fifty
  4  8 billion dollars or the total gross written premiums of the
  4  9 insurance holding company system are at least ten billion
  4 10 dollars.
  4 11    Sec. 7.  Section 521A.6A, subsection 1, unnumbered paragraph
  4 12 1, Code 2016, is amended to read as follows:
  4 13    With respect to any insurer registered under section
  4 14 521A.4 and in accordance with subsection 3 of this section,
  4 15 the commissioner shall have the power to participate in a
  4 16 supervisory college for any domestic insurer that is part
  4 17 of an insurance holding company system with international
  4 18 operations in order to determine compliance by the insurer with
  4 19 this chapter. The powers of the commissioner with respect
  4 20 to supervisory colleges include but are not limited to the
  4 21 following:
  4 22    Sec. 8.  Section 521A.6A, subsections 2 and 3, Code 2016, are
  4 23 amended by striking the subsections.
  4 24    Sec. 9.  NEW SECTION.  521A.6B  Group=wide supervision of
  4 25 internationally active insurance groups.
  4 26    1.  a.  The commissioner may act as the group=wide supervisor
  4 27 of an internationally active insurance group in accordance with
  4 28 the provisions of this section.  However, the commissioner may
  4 29 authorize another regulatory official to act as the group=wide
  4 30 supervisor where the internationally active insurance group
  4 31 meets any of the following conditions:
  4 32    (1)  Does not have substantial insurance operations in the
  4 33 United States.
  4 34    (2)  Has substantial insurance operations in the United
  4 35 States, but not in Iowa.
  5  1    (3)  Has substantial insurance operations in the United
  5  2 States and in Iowa, but the commissioner has determined
  5  3 pursuant to the factors set forth in subsections 2 and 6 that
  5  4 another regulatory official is the appropriate group=wide
  5  5 supervisor.
  5  6    b.  In response to a request from an insurance holding
  5  7 company system that does not otherwise qualify as an
  5  8 internationally active insurance group, the commissioner may
  5  9 make a determination of or acknowledge a group=wide supervisor
  5 10 for such an insurance holding company system pursuant to this
  5 11 section.
  5 12    2.  a.  In cooperation with other state, federal, and
  5 13 international regulatory agencies, the commissioner shall
  5 14 identify a single group=wide supervisor for an internationally
  5 15 active insurance group.  The commissioner may determine that
  5 16 the commissioner is the appropriate group=wide supervisor
  5 17 for an internationally active insurance group that conducts
  5 18 substantial insurance operations concentrated in this state,
  5 19 or the commissioner may acknowledge that a regulatory official
  5 20 from another jurisdiction is the appropriate group=wide
  5 21 supervisor for the internationally active insurance group.  In
  5 22 making a determination or acknowledgment under this paragraph
  5 23 "a", the commissioner shall consider the following factors:
  5 24    (1)  The place of domicile of the insurers within the
  5 25 internationally active insurance group that hold the largest
  5 26 share of the group's written premiums, assets, or liabilities.
  5 27    (2)  The place of domicile of the top=tiered insurers in the
  5 28 insurance holding company system of the internationally active
  5 29 insurance group.
  5 30    (3)  The location of the executive offices or largest
  5 31 operational offices of the internationally active insurance
  5 32 group.
  5 33    (4)  Whether another regulatory official is acting as
  5 34 or is seeking to act as the group=wide supervisor of the
  5 35 internationally active insurance group under a regulatory
  6  1 system that the commissioner determines to be either of the
  6  2 following:
  6  3    (a)  Substantially similar to the system of regulation
  6  4 provided under the laws of this state.
  6  5    (b)  Otherwise sufficient in terms of providing for
  6  6 group=wide supervision, enterprise risk analysis, and
  6  7 cooperation with other regulatory officials.
  6  8    (5)  Whether another regulatory official acting as
  6  9 or seeking to act as the group=wide supervisor for the
  6 10 internationally active insurance group provides the
  6 11 commissioner with reasonably reciprocal recognition and
  6 12 cooperation.
  6 13    b.  Notwithstanding paragraph "a", even if the commissioner
  6 14 is identified pursuant to this subsection as the group=wide
  6 15 supervisor of an internationally active insurance group,
  6 16 the commissioner may determine that it is appropriate to
  6 17 acknowledge another regulatory official to serve as the
  6 18 group=wide supervisor of the internationally active insurance
  6 19 group.
  6 20    c.  The acknowledgment of a group=wide supervisor pursuant
  6 21 to this subsection shall be made after consideration of the
  6 22 factors listed in paragraph "a", subparagraphs (1) through
  6 23 (5), and shall be made in cooperation with and subject to the
  6 24 acknowledgment of other regulatory officials involved with
  6 25 supervision of members of the internationally active insurance
  6 26 group, and in consultation with the internationally active
  6 27 insurance group.
  6 28    3.  Notwithstanding any other provision of law, when another
  6 29 regulatory official is acting as the group=wide supervisor of
  6 30 an internationally active insurance group, the commissioner
  6 31 shall acknowledge that regulatory official as the group=wide
  6 32 supervisor of the internationally active insurance group.
  6 33 However, the commissioner shall make a new determination or
  6 34 acknowledgment as to the appropriate group=wide supervisor for
  6 35 the internationally active insurance group in the event that a
  7  1 material change in the internationally active insurance group
  7  2 results in either of the following:
  7  3    a.  The internationally active insurance group's insurers
  7  4 domiciled in Iowa holding the largest share of the group's
  7  5 premiums, assets, or liabilities.
  7  6    b.  Iowa being the place of domicile of the top=tiered
  7  7 insurers in the insurance holding company system of the
  7  8 internationally active insurance group.
  7  9    4.  Pursuant to section 521A.6, the commissioner is
  7 10 authorized to collect from any insurer registered pursuant to
  7 11 section 521A.4 all information necessary to determine whether
  7 12 it is appropriate for the commissioner to act as the group=wide
  7 13 supervisor of an internationally active insurance group or
  7 14 to acknowledge another regulatory official to act as the
  7 15 group=wide supervisor of the internationally active insurance
  7 16 group. Prior to issuing a determination or acknowledgment
  7 17 pursuant to this section, the commissioner shall notify the
  7 18 insurer registered pursuant to section 521A.4 and the ultimate
  7 19 controlling person within the internationally active insurance
  7 20 group of the pending determination or acknowledgment. The
  7 21 insurer and the internationally active insurance group shall
  7 22 have not less than thirty days to provide the commissioner with
  7 23 additional information pertinent to the commissioner's pending
  7 24 determination or acknowledgment. The commissioner shall
  7 25 publish the identity of the internationally active insurance
  7 26 groups that the commissioner has determined are subject to
  7 27 group=wide supervision by the commissioner.
  7 28    5.  If a determination is made that the commissioner is the
  7 29 appropriate group=wide supervisor for an internationally active
  7 30 insurance group, the commissioner is authorized to engage in
  7 31 any of the following group=wide supervision activities:
  7 32    a.  Assessing the enterprise risks within the internationally
  7 33 active insurance group to ensure all of the following:
  7 34    (1)  That the material financial condition and liquidity
  7 35 risks to members of the internationally active insurance group
  8  1 that are engaged in the business of insurance are identified
  8  2 by management.
  8  3    (2)  That reasonable and effective mitigation measures are
  8  4 in place.
  8  5    b.  Requesting, from any member of an internationally active
  8  6 insurance group subject to the commissioner's group=wide
  8  7 supervision, information necessary and appropriate to assess
  8  8 enterprise risk, including but not limited to information about
  8  9 the members of the internationally active insurance group
  8 10 regarding all of the following:
  8 11    (1)  Governance, risk assessment, and management.
  8 12    (2)  Capital adequacy.
  8 13    (3)  Material intercompany transactions.
  8 14    c.  Coordinating and, through the authority of the
  8 15 regulatory officials of the jurisdictions where members of
  8 16 the internationally active insurance group are domiciled,
  8 17 compelling the development and implementation of reasonable
  8 18 measures designed to ensure that the internationally active
  8 19 insurance group is able to timely recognize and mitigate
  8 20 enterprise risks to members of the internationally active
  8 21 insurance group that are engaged in the business of insurance.
  8 22    d.  Communicating with other state, federal, and
  8 23 international regulatory agencies for members within the
  8 24 internationally active insurance group and sharing relevant
  8 25 information, subject to the confidentiality provisions of
  8 26 section 521A.7, through supervisory colleges as set forth in
  8 27 section 521A.6A or otherwise.
  8 28    e.  Entering into agreements with or obtaining documentation
  8 29 from any insurer registered under section 521A.4, any member
  8 30 of an internationally active insurance group, and any other
  8 31 state, federal, or international regulatory agency for members
  8 32 of the internationally active insurance group, that provides
  8 33 the basis for or otherwise clarifies the commissioner's role as
  8 34 group=wide supervisor of an internationally active insurance
  8 35 group, including provisions for resolving disputes with other
  9  1 regulatory officials. Such agreements or documentation shall
  9  2 not serve as evidence in any proceeding that any insurer or
  9  3 person within an insurance company holding company system not
  9  4 domiciled or incorporated in this state is doing business in
  9  5 this state or is otherwise subject to jurisdiction in this
  9  6 state.
  9  7    f.  Other activities of group=wide supervision, consistent
  9  8 with the authority and purposes set forth in this section, as
  9  9 considered necessary by the commissioner.
  9 10    6.  If the commissioner acknowledges that another regulatory
  9 11 official from a jurisdiction that is not accredited by the
  9 12 national association of insurance commissioners is the
  9 13 group=wide supervisor of an internationally active insurance
  9 14 group, the commissioner may reasonably cooperate through a
  9 15 supervisory college or otherwise, with group=wide supervision
  9 16 undertaken by that regulatory official provided that all of the
  9 17 following occur:
  9 18    a.  The commissioner's cooperation is in compliance with the
  9 19 laws of this state.
  9 20    b.  The regulatory official acknowledged as the group=wide
  9 21 supervisor of the internationally active insurance group also
  9 22 recognizes and cooperates with the commissioner's activities
  9 23 as a group=wide supervisor for other internationally active
  9 24 insurance groups, where applicable.  If such recognition and
  9 25 cooperation is not reasonably reciprocal, the commissioner may
  9 26 refuse recognition and cooperation to that regulatory official.
  9 27    7.  The commissioner is authorized to enter into agreements
  9 28 with or obtain documentation from any insurer registered under
  9 29 section 521A.4, any affiliate of the insurer, and any other
  9 30 state, federal, or international regulatory agency for members
  9 31 of the internationally active insurance group, that provides
  9 32 the basis for or otherwise clarifies another regulatory
  9 33 official's role as group=wide supervisor of an internationally
  9 34 active insurance group.
  9 35    8.  An insurer registered under section 521A.4 that is
 10  1 subject to this section shall be liable for and shall pay the
 10  2 reasonable expenses of the commissioner's participation in
 10  3 the administration of this section, including the engagement
 10  4 of attorneys, actuaries, accountants, and other experts not
 10  5 otherwise a part of the commissioner's staff and all reasonable
 10  6 travel expenses.  Any persons so retained shall be under the
 10  7 direction and control of the commissioner and shall act in a
 10  8 purely advisory capacity.
 10  9    9.  The commissioner shall adopt rules pursuant to chapter
 10 10 17A to administer this section.
 10 11    Sec. 10.  Section 521A.7, subsection 1, Code 2016, is amended
 10 12 to read as follows:
 10 13    1.  All information, documents, and copies thereof obtained
 10 14 by or disclosed to the commissioner or any other person in
 10 15 the course of an examination or investigation made pursuant
 10 16 to section 521A.6 or 521A.6A, and all information reported
 10 17 or provided to the commissioner pursuant to sections 521A.4
 10 18 and, 521A.5, 521A.6A, and 521A.6B, shall be given confidential
 10 19 treatment and, shall not be subject to subpoena, shall not be
 10 20 subject to discovery or admissible in evidence in a private
 10 21 civil action, and shall not be made public by the commissioner
 10 22 or any other person, except to insurance departments of other
 10 23 states, without the prior written consent of the insurer to
 10 24 which it pertains unless the commissioner, after giving the
 10 25 insurer and its affiliates who would be affected thereby,
 10 26 notice and opportunity to be heard, determines that the
 10 27 interests of policyholders, shareholders, or the public will
 10 28 be served by the publication thereof, in which event the
 10 29 commissioner may publish all or any part thereof in such
 10 30 manner as the commissioner may deem appropriate.  However, the
 10 31 commissioner is authorized to use the information, documents,
 10 32 or copies obtained by, disclosed to, or reported or provided
 10 33 to the commissioner as described in this subsection, in the
 10 34 furtherance of any regulatory or legal action brought as a part
 10 35 of the commissioner's official duties.
 11  1    Sec. 11.  Section 523I.808, Code 2016, is amended to read as
 11  2 follows:
 11  3    523I.808  Examination fee.
 11  4    An examination fee shall be submitted with the cemetery's
 11  5 annual report in an amount equal to five dollars for each
 11  6 certificate of interment rights issued during the fiscal year
 11  7  time period covered by the report. The cemetery may charge
 11  8 the examination fee directly to the purchaser of the interment
 11  9 rights.
 11 10    Sec. 12.  Section 523I.813, subsections 1 and 2, Code 2016,
 11 11 are amended to read as follows:
 11 12    1.  A perpetual care cemetery shall file an annual report at
 11 13 the end of each fiscal year reporting period of the cemetery.
 11 14    2.  The report shall be filed with the commissioner within
 11 15 four months following the end of the cemetery's fiscal year
 11 16  reporting period in the form required by the commissioner.
 11 17    Sec. 13.  APPLICABILITY.  The following provision of this Act
 11 18 is applicable to health insurance policies, contracts, or plans
 11 19 that are delivered, issued for delivery, continued, or renewed
 11 20 on or after January 1, 2017:
 11 21    1.  The section of this Act creating section 514K.2.
 11 22                           EXPLANATION
 11 23 The inclusion of this explanation does not constitute agreement with
 11 24 the explanation's substance by the members of the general assembly.
 11 25    This bill relates to various matters involving insurance and
 11 26 the insurance division of the department of commerce.
 11 27    UNIFORM SECURITIES ACT.  Code section 502.305(2) is
 11 28 amended to provide that the filing fee for certain securities
 11 29 registration filings will be prescribed by rule instead of
 11 30 pursuant to a statutory formula based on the proposed aggregate
 11 31 sales price of the securities to be offered.
 11 32    Code section 502.305(10) is stricken, eliminating certain
 11 33 requirements for amendments to registration statements when
 11 34 securities are sold in the state in excess of the amount
 11 35 registered at the time of sale. Code section 502.306(1)(a) is
 12  1 amended to remove a cross=reference to the stricken subsection.
 12  2    INSURANCE FRAUD.  New Code section 507E.3A provides that
 12  3 a person commits a class "D" felony if the person, with
 12  4 intent to defraud another person in connection with any
 12  5 sale, solicitation, or negotiation of insurance, willfully
 12  6 employs any deception, device, scheme, or artifice to defraud;
 12  7 misrepresents, conceals, or suppresses any material fact; or
 12  8 engages in any act, practice, or course of business which
 12  9 operates as a fraud or deceit upon another person. A person
 12 10 who commits such insurance fraud that results in a loss of more
 12 11 than $10,000 is guilty of a class "C" felony.
 12 12    A class "D" felony is punishable by confinement for no more
 12 13 than five years and a fine of at least $750 but not more than
 12 14 $7,500. A class "C" felony is punishable by confinement for no
 12 15 more than 10 years and a fine of at least $1,000 but not more
 12 16 than $10,000.
 12 17    HEALTH CARE PLAN INFORMATION.  New Code section 514K.2
 12 18 requires insurance carriers that provide small group and
 12 19 individual health coverage to provide specified information
 12 20 on the carrier's internet site in a clear and understandable
 12 21 form for use in comparing policies, contracts, and plans, and
 12 22 coverage and premiums.  The provision is applicable to health
 12 23 insurance policies, contracts, or plans that are delivered,
 12 24 issued for delivery, continued, or renewed on or after January
 12 25 1, 2017.
 12 26    INSURANCE HOLDING COMPANY SYSTEMS.  Code section 521A.1 is
 12 27 amended to add two new definitions.  Code section 521A.1(5A)
 12 28 defines a "group=wide supervisor" as a regulatory official
 12 29 who is authorized, and who is determined or acknowledged by
 12 30 the commissioner of insurance to have sufficient significant
 12 31 contacts with an internationally active insurance group, to
 12 32 engage in conducting and coordinating group=wide supervision
 12 33 of the insurance group. Code section 521A.1(7A) defines an
 12 34 "internationally active insurance group" as an insurance
 12 35 holding company system that includes an insurer registered to
 13  1 do business in this state that is a member of an insurance
 13  2 holding company system that has premiums written in at least
 13  3 three countries, at least 10 percent of gross premiums written
 13  4 outside the United States, and based on a rolling three=year
 13  5 average has total assets of at least $50 billion or total gross
 13  6 written premiums of at least $10 billion.
 13  7    Code section 521A.6A concerning supervisory colleges is
 13  8 amended to strike subsections 2 and 3 relating to group=wide
 13  9 supervisors.  Code section 521A.6A(1) is amended to remove an
 13 10 internal reference to subsection 3.
 13 11    New Code section 521A.6B relates to group=wide supervision
 13 12 of internationally active insurance groups. The commissioner
 13 13 may act as the group=wide supervisor of an internationally
 13 14 active insurance group in accordance with the provisions of
 13 15 the new section. The commissioner may also authorize another
 13 16 regulatory official to act as the group=wide supervisor based
 13 17 on specified criteria. The provision requires the commissioner
 13 18 to consider specific factors when determining whether the
 13 19 commissioner or another regulatory official should act as the
 13 20 group=wide supervisor. The commissioner is authorized to
 13 21 collect information from any insurer registered in the state
 13 22 as a member of an insurance holding company system and the
 13 23 ultimate controlling person within the internationally active
 13 24 insurance group as necessary for the commissioner to determine
 13 25 or acknowledge who should be the group=wide supervisor.
 13 26    The provision allows the commissioner to engage in
 13 27 specified activities if acting as a group=wide supervisor.
 13 28 The commissioner may also acknowledge that another regulatory
 13 29 official is the group=wide supervisor and reasonably cooperate
 13 30 with that official if the commissioner's cooperation complies
 13 31 with Iowa law and the other official recognizes and cooperates
 13 32 with the commissioner's activities as a group=wide supervisor
 13 33 for other internationally active insurance groups.
 13 34    An insurer registered in this state pursuant to Code chapter
 13 35 521A must pay the reasonable expenses of the commissioner's
 14  1 participation in the administration of new Code section
 14  2 521A.6B, including the engagement of experts and all reasonable
 14  3 travel expenses. The commissioner is required to adopt rules
 14  4 pursuant to Code chapter 17A to administer the new provision.
 14  5    Code section 521A.7(1) is amended to provide that all
 14  6 information reported or provided to the commissioner pursuant
 14  7 to Code section 521A.6A and new Code section 521A.6B must
 14  8 be given confidential treatment, shall not be subject to
 14  9 subpoena, shall not be subject to discovery or admissible in
 14 10 evidence in a private civil action, and shall not be made
 14 11 public by the commissioner or any other person except under
 14 12 specified circumstances. The commissioner is authorized to
 14 13 use such information, documents, or copies in the furtherance
 14 14 of any regulatory or legal action brought as part of the
 14 15 commissioner's official duties.
 14 16    IOWA CEMETERY ACT.  Code sections 521I.808 and 523I.813(1)
 14 17 and (2) are amended to delete references to a fiscal year
 14 18 relating to the time period when examination fees and annual
 14 19 reports must be submitted by cemeteries to the commissioner.
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