LD 1907
pg. 31
Page 30 of 38 PUBLIC Law Chapter 636 Page 32 of 38
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LR 2724
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agreement in effect at the time the insurance policy
was initially issued.

 
6.__Submission of certification.__If the settlement provider
submits to the insurer a copy of the owner's or insured's
certification described in subsection 5 when the settlement
provider submits a request to the insurer to effect the transfer
of the policy or certificate to the settlement provider, the copy
is deemed to conclusively establish that the settlement contract
satisfies the requirements of this section and the insurer shall
timely respond to the request.

 
§6812. Insurance company practices

 
1. Duty to provide information. An In addition to the
provisions in section 6809, an insurance company that is licensed
to do business in this State shall promptly respond to reasonable
requests for policy information from a viatical settlement
provider, viatical or settlement producer or independent viatical
producer upon the receipt of the following documents in the
office of the insurance company:

 
A. An authorization signed by the viator to release
specified information regarding the policy or certificate to
a named licensed viatical settlement provider, viatical
settlement agent or viatical settlement broker producer; and

 
B. A request in writing from the named licensed viatical
settlement provider, viatical settlement agent or viatical
settlement broker producer for the specified policy or
certificate information.

 
Requests for the following items related to the policy or
certificate being viaticated that is the subject of a settlement
transaction are deemed to be reasonable: ownership of and death
benefits under the policy or certificate; premium information on
the policy or certificate; liens, assignments and additional
benefits; waiver of premium; and ownership and assignment
provisions. The information provided must be the most recent
information on file. By rule, the superintendent may specify
additional criteria for information requests deemed reasonable
under this section by a viatical settlement provider or an
independent viatical producer.

 
2. Conversion of group insurance. An issuer or 3rd-party
administrator of a group life insurance policy shall promptly
issue an individual conversion policy if the conversion is being
requested for the purpose of entering into a viatical settlement
contract. For the purposes of this section, issuance of such a


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