§ 31-1309.01 — Duty to provide information to other insurance regulators and guaranty associations.

District of Columbia § 31-1309.01

• Jurisdiction: District of Columbia
• Title 31: Insurance and Securities.
• Ch. 13: Insurers Rehabilitation and Liquidation Procedures.

Text

The domiciliary receiver shall provide information to other state insurance regulators and guaranty associations, including reports and analyses of financial condition and the status of development of a plan of rehabilitation. The domiciliary receiver shall also permit a state insurance regulator or guaranty association to obtain a listing of policyholders and certificate holders residing in the requestor’s state, including current addresses and summary policy information; provided, that (1) the regulator or guaranty association agrees, and has the legal authority, to maintain the confidentiality of the records, and (2) records will be used only for regulatory or guaranty association purposes. Access to financial records shall be at least equivalent to that to which a state insurance regulator was entitled before the commencement of a formal delinquency proceeding. Access to records may be limited to normal business hours. If the domiciliary receiver believes that certain information is sensitive and disclosure might cause a diminution in recovery, the receiver may apply for a protective order imposing additional restrictions on access. No waiver of an applicable privilege shall occur as a result of disclosure to the Commissioner or receiver or of sharing documents, materials, or other information under this section. Nothing in this section shall require an insurer to disclose documents, materials, or other information that is not otherwise required by law to be disclosed.

Legislative History

Oct. 15, 1993, D.C. Law 10-35, § 10a; as added Oct. 21, 2000, D.C. Law 13-191, § 2(b), 47 DCR 7311