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By Sonya Sellmeyer, Consumer Advocacy Officer for the Iowa Insurance Division

The Coronavirus Aid, Relief and Economic Security Act of 2020 (CARES) provides financial relief due to the effects of COVID-19 to individuals, families, state, local, and tribal governments, small businesses, and American industries. One of the provisions for individuals includes the possibility to withdraw or obtain a loan from qualified (usually offered by an employer) retirement investments without the standard penalties imposed.  This provision of CARES is temporary and employer plans may opt out this provision.  

You may qualify for a withdrawal or loan from your qualified retirement plan or traditional IRA if:  

• You, a spouse, or dependent have been diagnosed with COVID-19 by a test approved by the Centers for Disease Control and Prevention, and you suffered financially due to the quarantine, employment reductions, or lack of child care as a result of the coronavirus.
• Additionally, those who own individual businesses may be eligible if their business closed or had a reduction in hours due to coronavirus. 

Des Moines - Trent Matthew Suhr, age 36, of Walnut was charged with one count of Insurance Fraud - Presenting False Information (Class D Felony) and one count of Perjury (Class D Felony) following an investigation by the Iowa Insurance Division’s Fraud Bureau.

The charges against Suhr stem from an investigation which began in March 2020. According to criminal complaints filed by the Insurance Fraud Bureau, Suhr made false statements in connection with a workers compensation insurance claim and during sworn testimony.

On June 23, 2020, Suhr was arrested by the Pottawattamie County Sheriff's Office after an arrest warrant was issued by the Pottawattamie County District Court. Suhr was booked into the Pottawattamie County Jail where he is currently in custody on a $5,000 bond. Trial will be set at a future date.

Warns of risks of investment fraud among seniors due to increased isolation during COVID-19

Des Moines — In recognition of World Elder Abuse Awareness Day on June 15, the Iowa Insurance Division reminds Iowans that heightened isolation and loneliness during the COVID-19 pandemic have created a perfect storm for senior financial exploitation.

“Social isolation is a leading factor contributing to the financial exploitation of older investors and quarantines to protect against the spread of the novel coronavirus have taken social isolation to a new dimension for many seniors, making them more vulnerable to financial exploitation,” Iowa Insurance Commissioner Doug Ommen said.

While financial abuse can happen at any time, perpetrators often strike during times in a senior’s life when they may be more vulnerable, such as during a health crisis or after the death of a loved one. Scammers often gather personal details from obituaries and social media posts and use this information to target their victims. Some even will exploit trust within seniors’ social and support groups to become more involved in their lives. 

As the State of Iowa responds to Coronavirus Disease 2019 (COVID-19), the Iowa Insurance Division is closely monitoring the situation and actively communicating with insurance companies that operate in the State of Iowa. The Division provides answers to some commonly asked questions below and will update this page as necessary.

The Commissioner reminds Iowans that they can help prevent the spread of illness by following simple daily precautions including washing hands frequently, covering coughs and sneezes, and staying home when ill. It is currently flu and respiratory disease season, and Iowa Department of Public Health (IDPH) recommends getting the flu vaccine. Influenza activity is widespread in Iowa and as long as flu viruses are circulating, it's not too late to receive the vaccine.