(a)Subject to the limitation contained in this section and in addition to the powers that the Mayor has under the insurance laws of the District relating to the examination of insurers, the Mayor shall have the power to examine any insurer registered under § 31-705 and the insurer’s affiliates to ascertain the financial condition of the insurer, including the enterprise risk to the insurer by the ultimate controlling party, any entity or combination of entities within the insurance holding company system, or the insurance holding company system on a consolidated basis.
(1)The Mayor may order any insurer registered under § 31-705 to produce such records, books, or other information in the possession of the insurer or its affiliates as are reasonably necessary to determine compliance wi
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(a) Subject to the limitation contained in this section and in addition to the powers that the Mayor has under the insurance laws of the District relating to the examination of insurers, the Mayor shall have the power to examine any insurer registered under § 31-705 and the insurer’s affiliates to ascertain the financial condition of the insurer, including the enterprise risk to the insurer by the ultimate controlling party, any entity or combination of entities within the insurance holding company system, or the insurance holding company system on a consolidated basis.
(1) The Mayor may order any insurer registered under § 31-705 to produce such records, books, or other information in the possession of the insurer or its affiliates as are reasonably necessary to determine compliance with this subchapter.
(2) To determine compliance with this subchapter, the Mayor may order any insurer registered under § 31-705 to produce information not in the possession of the insurer if the insurer can obtain access to the information pursuant to contractual relationships, statutory obligations, or other method. If the insurer cannot obtain the information requested by the Mayor, the insurer shall provide the Mayor a detailed explanation of the reason that the insurer cannot obtain the information and the identity of the holder of information. Whenever it appears to the Mayor that the detailed explanation is without merit, the Mayor may require, after notice and hearing, the insurer to pay a penalty of $100 for each day’s delay, or may suspend or revoke the insurer’s license.
(b) The Mayor may retain, at the registered insurer’s expense, those attorneys, actuaries, accountants and other experts not otherwise a part of the Mayor’s staff reasonably necessary to assist in the conduct of the examination under subsection (a) of this section. Any person so retained shall be under the direction and control of the Mayor and shall act in a purely advisory capacity.
(c) Each registered insurer producing records, books and papers for examination pursuant to subsection (a) of this section shall be liable for and shall pay the expense of the examination in accordance with Chapter 14 of this title governing cost of examinations.
(d) If the insurer fails to comply with an order issued pursuant to this section, the Mayor shall have the power to examine the records, books, or other information in the possession of the insurer’s affiliates to obtain the relevant information. The Mayor shall also have the power to issue subpoenas, to administer oaths, and to examine under oath any person for purposes of determining compliance with this section. Upon the failure or refusal of any person to obey a subpoena, the Mayor may petition a court of competent jurisdiction, and upon proper showing, the court may enter an order compelling the witness to appear and testify or produce documentary evidence. Failure to obey the court order shall be punishable as contempt of court. Every person shall be obliged to attend as a witness at the place specified in the subpoena, when subpoenaed, anywhere within the District. A person shall be entitled to the same fees and mileage, if claimed, as a witness in the Superior Court of the District of Columbia, which fees, mileage, and actual expense, if any, necessarily incurred in securing the attendance and testimony of witness shall be itemized and charged against, and be paid by, the company being examined.