The immediate past president of National Conference of Insurance Legislators has recommended shielding insurers’ market conduct statement responses from subpoenas as well as from state public records laws.
Sen. James Seward, R-Otsego, N.Y., includes those confidentiality provisions and others in a proposed Market Conduct Annual Statement Model Act.
The draft is set to be considered by NCOIL’s State-Federal Relations Committee March 5, 2010.
The National Association of Insurance Commissioners, Kansas City, Mo., also has been working on a market conduct statement model.
The Seward version states that the purpose of the model developed by NCOIL, Troy, N.Y., would be to enable an insurance commissioner to ccollect and analyze market conduct annual statement data.