505.17 Confidential information.
1. a. Information, records, and documents utilized for the purpose of, or in the course of, investigation, regulation, or examination of an insurance company or insurance holding company, received by the division from some other governmental entity which treats such information, records, and documents as confidential, are confidential and shall not be disclosed by the division and are not subject to subpoena. Such information, records, and documents do not constitute a public record under chapter 22.
b. The disclosure of confidential information, administrative or judicial orders which contain confidential information, or information regarding other action of the division which is not a public record subject to disclosure, to other insurance and financial regulatory officials may be permitted by the commissioner provided that those officials are subject to, or agree to comply with, standards of confidentiality comparable to those imposed on the commissioner.
2. Notwithstanding subsection 1, an application for a rate increase filed by a health insurance carrier and all information, records, and documents accompanying such an application or utilized for the purpose of, or in the course of consideration of the application by the commissioner, shall constitute a public record under chapter 22 except as provided in this subsection.
a. The commissioner shall consider the written request of a health insurance carrier to keep confidential certain details of an application or accompanying information, records, and documents. If the request includes a sufficient explanation as to why public disclosure of such details would give an unfair advantage to competitors, the commissioner shall keep such details confidential. If the commissioner elects to keep certain details confidential, the commissioner shall release only the nonconfidential details in response to a request for records made pursuant to chapter 22. If confidential details are withheld from a request for records made pursuant to chapter 22, the commissioner shall release an explanation of why the information was deemed confidential and a summary of the nature of the information withheld and the reasons for withholding the information.
b. In considering requests for confidential treatment, the commissioner shall narrowly construe the provisions of this subsection in order to appropriately balance an applicant’s need for confidentiality against the public’s right to information about the application.
94 Acts, ch 1176, §4; 99 Acts, ch 165, §1; 2010 Acts, ch 1121, §6, 33
Referred to in §505.7
Structure Iowa Code
Chapter 505 - INSURANCE DIVISION
Section 505.1 - Insurance division created.
Section 505.2 - Appointment and term of commissioner.
Section 505.4 - Deputy — assistants — bond.
Section 505.5 - Expenses — salary.
Section 505.6 - Documents and records.
Section 505.7 - Fees — expenses of division — assessments.
Section 505.7A - Civil penalties.
Section 505.8 - Commissioner’s general powers and duties — consumer advocate bureau established.
Section 505.9 - Ex officio receiver.
Section 505.10 - Expenses attending liquidation.
Section 505.12 - Life insurance — annual report.
Section 505.13 - Other insurance — annual report by the division.
Section 505.14 - Foreign insurers — reciprocal provisions.
Section 505.15 - Actuarial, professional, and specialist staff.
Section 505.16 - Applications for insurance — human immunodeficiency virus tests — restrictions.
Section 505.17 - Confidential information.
Section 505.18 - Health care insurance quality and costs — annual report.
Section 505.18A - State innovation waivers.
Section 505.19 - Health insurance rate increase applications — public hearing and comment.
Section 505.20 - Certain agricultural organizations exempt from regulation.
Section 505.21 - Health care access — duties of commissioner — penalties.
Section 505.22 - Certain religious organization activities exempt from regulation.
Section 505.24 - Sale of policy term information by consumer reporting agency.
Section 505.27 - Medical malpractice insurance — annual claims reports required.
Section 505.27A - Sale of life insurance to military personnel.
Section 505.28 - Consent to jurisdiction.
Section 505.29 - Administrative hearings — authority to appoint hearing officer.
Section 505.31 - Reimbursement accounts — assistance to small employers.