§ 27-8-31-9 — Commission information and records; disclosure; confidentiality; compacting state compliance and oversight

Indiana § 27-8-31-9

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 8: LIFE, ACCIDENT, AND HEALTH
• Ch. 31: Interstate Insurance Product Regulation Compact

Text

(a) The commission shall adopt rules
establishing conditions and procedures for public inspection and
copying of the commission's information and official records, except
information and records involving the privacy of individuals and trade
secrets of insurers. The commission may adopt additional rules under
which the commission may make available to federal and state
agencies, including law enforcement agencies, records and information
otherwise exempt from disclosure, and may enter into agreements with
these agencies to receive or exchange information or records subject to
nondisclosure and confidentiality provisions.
(b) Except as to privileged records, data, and information, the laws
of any compacting state pertaining to confidentiality or nondisclosure
shall not relieve any compacting state commissioner of the duty to
disclose any relevant records, data, or information to the commission.
However, disclosure to the commission shall not be considered to
waive or otherwise affect any confidentiality requirement, and, except
as otherwise expressly provided in this chapter, the commission shall
not be subject to the compacting state's laws pertaining to
confidentiality and nondisclosure with respect to records, data, and
information in the commission's possession. Confidential information
of the commission remains confidential after the information is
provided to any commissioner.
(c) The commission shall monitor compacting states for compliance
with duly adopted bylaws, rules, including uniform standards, and
operating procedures. The commission shall notify any noncomplying
compacting state in writing of the noncomplying compacting state's
noncompliance with commission bylaws, rules, or operating
procedures. If a noncomplying compacting state fails to remedy the
noncomplying compacting state's noncompliance within the time
specified in the notice of noncompliance, the compacting state is
considered to be in default as set forth in section 16 of this chapter.
(d) The commissioner of any state in which an insurer is authorized
to do business or is conducting the business of insurance shall continue
to exercise the commissioner's authority to oversee the market
regulation of the activities of the insurer in accordance with the
provisions of the state's law. The commissioner's enforcement of
compliance with the compact is governed by the following:
(1) With respect to the commissioner's market regulation of a
product or an advertisement that is approved or certified to the
commission, the content of the product or advertisement does not
constitute a violation of the provisions, standards, or requirements
of the compact except upon a final order of the commission,
issued at the request of a commissioner after prior notice to the
insurer and an opportunity for hearing before the commission.
(2) Before a commissioner may bring an action for violation of a
provision, standard, or requirement of the compact related to the
content of an advertisement not approved or certified to the
commission, the commission or an authorized commission officer
or employee must authorize the action. However, authorization
under this subdivision does not require:
(A) notice to the insurer;
(B) opportunity for hearing; or
(C) disclosure of:
(i) requests for authorization; or
(ii) records of the commission's action on a request described
in item (i).

Legislative History

As added by P.L.138-2005, SEC.3.