CT SB00189

Repeals and replaces Section 38a-15 of general statutes, effective October 1, 2014, to establish procedures for the Insurance Department's market conduct examinations of insurance companies, health care centers, third-party administrators, and fraternal benefit societies.

Requires market conduct examinations to be conducted in accordance with the National Association of Insurance Commissioners' Market Regulation Handbook.

Allows the commissioner to engage attorneys, actuaries, certified public accountants, and other professionals as examiners for multistate examinations or targeted investigations of alleged misconduct when department expertise is unavailable; examined entities pay costs if administrative action results.

Establishes immunity from liability for the commissioner, representatives, and examiners conducting examinations in good faith, and for persons providing information in good faith without fraudulent intent.

Designates all examination workpapers, documents, and information as confidential and not subject to subpoena, except when disclosed to other regulatory officials, law enforcement, or agencies that agree in writing to maintain confidentiality.