Bill Summary

by Chaney  CS Sponsors: Insurance & Banking Subcommittee

Pub. Rec./Office of Insurance Regulation: Creates privilege for documents, materials, & other information obtained by Commissioner of Insurance Regulation or National Association of Insurance Commissioners in course of examination or analysis; prohibits commissioner & certain persons from testifying in certain private civil actions; authorizes commissioner to share certain information under certain circumstances; provides for reciprocity; provides exemption from public records requirements for certain proprietary business information provided to OIR by insurer & certain biographical statements, biographical affidavits, & supplementary materials related thereto provided to or obtained by OIR; provides for future legislative review & repeal of privilege & exemptions; provides statements of public necessity. Effective Date: on the same date that HB 1263 or similar legislation takes effect, if such legislation is adopted in the same legislative session or an extension thereof and becomes a law

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