CA AB1234

Amends Section 1215.8 of the Insurance Code to strengthen confidentiality protections for insurance holding company system registration statements and examination documents by making them exempt from California Public Records Act disclosure and not subject to discovery or admissible in private civil actions.

Authorizes the Insurance Commissioner to share confidential information with other state, federal, and international regulatory agencies, the NAIC, and law enforcement authorities only if recipients agree in writing to maintain confidentiality and have legal authority to do so.

Restricts sharing of certain confidential information reported under Section 1215.4(m) to only those state commissioners with substantially similar confidentiality statutes or regulations who have agreed in writing not to disclose the information.

Requires written agreements with the NAIC that specify confidentiality procedures, confirm the Commissioner retains ownership of shared information, require prompt notice to insurers of disclosure requests, and allow insurers to intervene in judicial proceedings involving their confidential information.

Makes legislative findings pursuant to California Constitution Article I, Section 3 that limiting public access to proprietary insurance information is necessary to protect that information.