HB 1512 Summary

• Creates confidentiality protections for insurance examination documents and information, prohibiting disclosure in private civil actions unless Commissioner determines public interest requires disclosure

• Exempts certain inactive third-party administrators from filing annual reports if they have had no business activity in the past calendar year

• Removes bond requirements for insurance brokers, retaining only errors and omissions insurance coverage requirements

• Updates statutory citations and definitions in the Risk-based Capital for Insurers Act and Insurance Holding Company System provisions to include fraternal benefit societies

• Allows employers to offer wellness program incentives (including smoking cessation programs) in health insurance premium development and employment conditions, effective November 1, 2013