MI HB6265

Adds Chapter 4A to the Insurance Code of 1956 establishing a comprehensive market conduct examination framework for the director to conduct ongoing market analysis and targeted examinations of insurers.

Requires the director to conduct market analysis on an ongoing basis and consider a continuum of actions (correspondence, interviews, interrogatories, desk examinations) before conducting on-site examinations.

Mandates that on-site examinations follow NAIC Market Conduct Uniform Examination Procedures and NAIC Market Conduct Examiner's Handbook, with at least 60 days advance notice to insurers and a pre-examination conference 30 days before commencement.

Establishes timelines for examination completion and reporting: draft report within 60 days of completion, insurer response within 30 days, final report within 30 days thereafter, with examination reports held confidential for 30 days before public disclosure.

Allows the director to bill insurers for reasonable and necessary examination costs on a monthly itemized basis, with written protocols required for outside contract examiners including fee disclosure and dispute resolution mechanisms.