CT SB01028

Authorizes the Insurance Commissioner to conduct market conduct examinations of insurance companies, health care centers, third-party administrators, and fraternal benefit societies operating in the state as often as deemed necessary.

Permits the Commissioner to appoint market conduct examiners who are not officers or financially interested in any examined entity (except as policyholders) and grants authority to examine officers, agents, and other persons under oath and compel production of relevant books and records.

Requires the Commissioner to grant a hearing to examined entities before filing examination reports, which serve as presumptive evidence in state enforcement actions, and allows the Commissioner to publish examination results in newspapers if deemed in the public interest.

Allows the Commissioner to hire attorneys, actuaries, accountants, and other experts to assist with examinations, with examination costs paid by the examined entity; exempts domestic insurance companies from paying examiner salaries and fringe benefits if subject to assessments under section 38a-47.

Provides immunity from civil liability for the Commissioner, representatives, and examiners acting in good faith, and grants protection to persons communicating examination information in good faith; establishes confidentiality of examination working papers and records except when disclosed to other insurance regulators or law enforcement with written confidentiality agreements.