Iowa Admin. Code r. 191-72.11

Current through Register Vol. 47, No. 6, September 18, 2024

Rule 191-72.11 - Reporting on asset protection

(1) Each issuer shall send an asset protection report at least quarterly to each policyholder or certificate holder who has received any benefits since the last asset protection report sent to the policyholder or certificate holder Each asset protection report shall include the following information:

a. The amount of asset protection for which the policyholder or certificate holder had qualified prior to the quarter covered by the report.

b. The total benefits paid by the issuer for services rendered during the quarter.

c. A statement of the amount of benefits paid by the issuer for services rendered during the quarter which qualify for asset protection.

d. A summary total of the amount paid to date under the policy or certificate which qualifies for asset protection.

(2) Asset protection reports shall be subject to audit by the division of insurance under the same requirements as specified in 72.13(1) "b."

Iowa Admin. Code r. 191-72.11