MS HB534

Authorizes the Commissioner of Insurance to conduct financial and market analysis reviews of all insurers authorized to do business in Mississippi, with authority to impose fines up to $10,000 per occurrence for non-compliance with information requests.

Extends Risk-Based Capital (RBC) requirements to health organization insurers (HMOs, dental plans, vision plans, and managed care organizations) under the same standards as property and casualty insurers.

Defines "enterprise risk" in insurance holding company law as any activity or circumstance likely to materially adversely affect an insurer's financial condition or liquidity, and requires ultimate controlling persons to file annual enterprise risk reports.

Revises insurance holding company registration and control change provisions to require pre-filing notice for divestitures, establish director independence requirements (at least one-third of directors must be independent), and allow consolidated hearings for multi-state acquisitions.

Establishes confidentiality protections for examination documents, financial analyses, and holding company information, prohibiting disclosure in private civil actions and subpoenas, while permitting sharing with other regulators and law enforcement agencies under confidentiality agreements.