DE HB257

Adds new definition of "enterprise risk" to insurance holding company regulations, covering activities or events involving insurer affiliates that could materially harm the financial condition or liquidity of the insurer or holding company system

Requires controlling persons seeking to divest their controlling interest in a domestic insurer to file confidential notice with the Commissioner at least 30 days prior to cessation of control

Mandates that ultimate controlling persons of registered insurers file annual enterprise risk reports identifying material risks within the insurance holding company system that could pose enterprise risk to the insurer

Authorizes the Commissioner to participate in supervisory colleges with other state, federal, and international regulatory agencies to oversee domestic insurers that are part of insurance holding company systems with international operations

Strengthens confidentiality provisions for documents obtained during examinations while expanding information-sharing authority with the NAIC, other regulators, and law enforcement agencies under written confidentiality agreements