Section 1 classifies information obtained by the commissioner from an insurance company in the course of market analysis as private data on individuals or protected nonpublic data, and it is not subject to subpoena or admissible in a private lawsuit.
Section 2 eliminates the requirement that fines be made in an action commenced by the Attorney General in Ramsey County.
Section 3, subdivision 1, sets the scope of the section as applying to examinations limited to market analysis.
Subdivision 2 requires a scheduling conference to be held within 30 days of issuing an examination order.
Subdivision 3 allows an insurance company to waive its right to a scheduling conference.
Subdivision 4 requires the commissioner to provide the insurance company with specified information at the scheduling conference.
Subdivision 5 requires the commissioner to issue a scheduling order within 15 business days of the scheduling conference.
Subdivision 6 governs the production of information requested from an insurance company by the commissioner.
Subdivision 7 governs the conduct of an examination unless required to preserve evidence.
Subdivision 8 requires bills for an examination being charged to an insurance company to be itemized and include specified detail. Must provide a due date no less than 30 business days from receipt.
Subdivision 9 provides that an examination cannot exceed 12 months from the date of initial submission of information unless there is material lack of cooperation by the company or the commissioner can show that additional time is necessary.
Subdivision 10 establishes standards for the administrative and judicial review of an order or decision of the commissioner.
Section 7 establishes an effective date of Aug 1, 2017, and applies to exams and investigations initiated on or after that date.