All medical information solicited or obtained by any person soliciting or entering into a life settlement is subject to the Insurance Information and Privacy Protection Act concerning confidentiality of medical information.
Records of all consummated transactions and life settlement contracts shall be maintained by the provider for three years after the death of the insured and shall be available to the commissioner for inspection during reasonable business hours.
A provider entering into a life settlement contract with any owner of a policy, wherein the insured is terminally ill, must first obtain the insured’s written consent to the release of his or her medical records to a provider, settlement broker, or insurance producer and, if the policy was issued less than two years from the date of application for a settlement contract, to the insurance company that issued the policy.
A provider entering into a life settlement contract with any owner of a policy, wherein the insured is terminally ill, shall first obtain the insured’s written consent to the release of his or her medical records to a provider, settlement broker, or insurance producer and, if the policy was issued less than two years from the date of application for a settlement contract, to the insurance company that issued the policy.
All medical information solicited or obtained by any licensee shall be subject to the applicable provision of state law relating to confidentiality of medical information, if not otherwise provided in this act.
It is a fraudulent life settlement act and a violation for any person to fail to provide the disclosures or file the required reports with the commissioner as required.
Disability insurer contracts cannot contain any provision that restricts health facilities' compliance with requirements to provide patients with access to their own health information.
Any person who willfully discloses genetic information that identifies the individual to a third party is liable for civil fines and a misdemeanor. Negligent disclosure is also subject to a civil fine payable to the test subject.
When requested by an insured or contracting health professional who is treating an insured, a disability insurer that covers hospital, medical, or surgical expenses shall authorize a second opinion by an appropriately qualified health care professional. The insurer shall require the second opinion health professional to provide the insured and the initial health professional with a consultation report, including any recommended procedures or tests that the second opinion health professional believes appropriate.
Disability insurers may establish reasonable requirements for the participating obstetrician and gynecologist or the family practice physician and surgeon, to communicate with the policyholder's primary care physician regarding the policyholder's condition, treatment, and any need for followup care.
