Des Moines, Iowa – The Iowa Insurance Division today filed an adopted regulation to require annuity agents to act in the best interest of their customers. Iowa’s annuity standards follow efforts by the National Association of Insurance Commissioners (NAIC) to develop a model Suitability in Annuity Transactions Model Regulation that is harmonized with rulemaking by the U.S. Securities and...
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Friday, May 1, 2020
Des Moines, Iowa - Bruce Arthur Hauptman, age 67, formerly of Fairfield, Iowa, was recently sentenced by United States District Judge Stephanie M. Rose to 42 months in federal prison following a joint investigation by the Iowa Insurance Division’s Fraud Bureau and the Federal Bureau of Investigations. Along with the prison sentence, Hauptman was ordered to serve three years of supervised...
Tuesday, April 21, 2020
Des Moines – The Iowa Insurance Division yesterday ordered 33 Carpenters Construction Inc. and its officers, Austin and Kimberly Nelson of Bettendorf, to cease and desist acting as a public adjuster while unlicensed to do so. They are also ordered to pay penalties totaling $15,000 in civil penalties.
“It’s contrary to public interest to allow unlicensed public adjusters to...
Friday, April 17, 2020
A new challenge, taking place during Financial Literacy Month, equips students with money management skills and encourages remote learning while social distancing
Des Moines – The Iowa Insurance Division today announced that it is sponsoring the EVERFI National Financial Bee, taking place April 20-24, 2020. The National Financial Bee is a first-of-its-kind nationwide financial literacy...
Wednesday, April 1, 2020
Des Moines – Iowans who have experienced change in employment status due to COVID -19 may be eligible to enroll in Affordable Care Act (ACA) coverage through healthcare.gov. A special enrollment period (SEP) is a period outside of open enrollment when a person can enroll in or switch ACA coverage.
“Iowans throughout the state that may need new health insurance coverage due to a job...
Monday, March 30, 2020
Des Moines – The Iowa Insurance Division is alerting investors to be on guard against an anticipated surge of fraudulent investment schemes amid the ongoing COVID-19 pandemic.
“In these extraordinary times the health and welfare of our people is our first concern, and that includes financial health,” said Iowa Insurance Commissioner Doug Ommen. “Scammers will begin perpetrating schemes...
Friday, March 20, 2020
Des Moines – The Iowa Insurance Division is reminding Iowans that staff and volunteers with the Iowa Insurance Division, the Senior Health Insurance Information Program (SHIIP) and Senior Medicare Patrol (SMP) are available to assist Iowans. Public access to the Iowa Insurance Division office may be limited effective Friday, March 20, 2020 and will remain in place until further notice....
Tuesday, March 3, 2020
Des Moines — Due to ongoing developments related to the current coronavirus (COVID-19) impact on financial markets, the Iowa Insurance Division is reminding Iowa investors to beware of con artists seeking to capitalize on fear and uncertainty.
“We know con artists are opportunistic and use current events to cloak their schemes with an air of immediacy and legitimacy. Never make an investment...
Thursday, February 27, 2020
Des Moines, Iowa – The Iowa Insurance Division today filed proposed regulations to require annuity agents and securities agents to act in the best interest of their customers. These standards ensure consumer’s interests are put first.
This follows efforts by the National Association of Insurance Commissioners (NAIC) to develop a model Suitability in Annuity Transactions Model...
Tuesday, February 25, 2020
Des Moines, Iowa – Iowa Insurance Commissioner Doug Ommen today issued a bulletin providing guidance to Iowa consumers and insurers regarding the CMS decision to allow transitional policies to be extended through calendar year 2021.
“I appreciate CMS taking the action to extend transitional policies. Without this action, roughly 1.1 million individuals nationally and 72,000...