Iowa SF2454 addresses financial exploitation of eligible adults by insurers and qualified individuals.

Iowa SF2454 amends the state's insurance code to allow insurers and qualified individuals to delay disbursements or transactions if they reasonably believe these actions will result in or contribute to the financial exploitation of an eligible adult. The delay can be extended if the internal review supports the belief. Insurers and qualified individuals must notify the commissioner of any delays and provide relevant records. They must also notify the eligible adult and any designated permissible third parties, unless the third party is suspected of exploitation.

Iowa SF2454 addresses financial exploitation of eligible adults by insurers and qualified individuals.

Iowa SF2454 amends the state's insurance code to allow insurers and qualified individuals to delay disbursements or transactions if they reasonably believe these actions will result in or contribute to the financial exploitation of an eligible adult. The delay can be extended if the internal review supports the belief. Insurers and qualified individuals must notify the commissioner of any delays and provide relevant records. They must also notify the eligible adult and any designated permissible third parties, unless the third party is suspected of exploitation.