MI HB6300

Amends Section 1355 of the Michigan Insurance Code to establish confidentiality and privilege protections for group capital calculations, group capital ratios, and liquidity stress test results reported by insurance holding companies.

Prohibits disclosure of group capital information and liquidity stress test results to the public, and restricts the Director's ability to share this information only with regulatory agencies, the NAIC, law enforcement, and state commissioners with substantially similar confidentiality statutes.

Requires written agreements with the NAIC and third-party consultants that specify confidentiality procedures, restrict permanent database storage of shared information, require prompt notice to insurers of subpoena requests, and allow insurers to intervene in legal proceedings involving their confidential information.

Prohibits misleading public statements regarding group capital calculations, group capital ratios, or liquidity stress test results, but allows insurers to publish rebuttals to materially false statements with substantial proof of falsity.

Takes effect only upon enactment of companion bills HB 6297, 6298, 6299, 6301, 6302, and 6303 of the 101st Legislature.