(1) Each insurance company licensed to do business in this state and engaged in writing malpractice insurance for licensed pharmacists and registered pharmacies, and each pharmacist or pharmacy that self-insures, shall send to the state board of pharmacy, in the form prescribed by the commissioner in collaboration with the state board of pharmacy, information relating to each malpractice claim against a licensed pharmacist or registered pharmacy that is settled or in which judgment is rendered against the insured.
(2) The insurance company or self-insured pharmacist or pharmacy shall provide information relating to each malpractice claim that the state board of pharmacy deems necessary to conduct a further investigation and hearing.