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H0092...........................................................by BUSINESS
DEPARTMENT OF INSURANCE - Amends existing law relating to the Department of
Insurance to authorize the department to share confidential information
with foreign regulatory or law enforcement agencies.
02/01 House intro - 1st rdg - to printing
02/02 Rpt prt - to Bus
02/28 Rpt out - rec d/p - to 2nd rdg
03/01 2nd rdg - to 3rd rdg
03/02 3rd rdg - PASSED - 62-3-5
AYES -- Anderson, Andrus, Barrett, Bayer, Bedke, Bell, Bilbao, Black,
Block, Bock, Boe, Bolz, Brackett, Bradford, Chadderdon, Chavez, Chew,
Clark, Collins, Crane, Durst, Eskridge, Hagedorn, Hart, Henbest,
Jaquet, Killen, King, Kren, Labrador, Lake, LeFavour, Luker,
Marriott, Mathews, McGeachin, Moyle, Nielsen, Pasley-Stuart, Patrick,
Pence, Raybould, Ring, Ringo, Roberts, Ruchti, Rusche, Sayler,
Schaefer, Shepherd(2), Shepherd(8), Shirley, Shively, Smith(30),
Smith(24), Snodgrass, Stevenson, Thayn, Trail, Wills, Wood(27), Mr.
Speaker
NAYS -- Mortimer, Vander Woude, Wood(35)
Absent and excused -- Edmunson, Harwood, Henderson, Loertscher,
Nonini
Floor Sponsor - Patrick
Title apvd - to Senate
03/05 Senate intro - 1st rdg - to Com/HuRes
03/16 Rpt out - rec d/p - to 2nd rdg
03/19 2nd rdg - to 3rd rdg
03/21 3rd rdg - PASSED - 35-0-0
AYES -- Andreason, Bair, Bastian, Bilyeu, Broadsword, Burkett,
Cameron, Coiner, Corder, Darrington, Davis, Fulcher, Gannon, Geddes,
Goedde, Hammond, Heinrich, Hill, Jorgenson, Kelly, Keough, Langhorst,
Little, Lodge, Malepeai, McGee, McKague, McKenzie, Pearce,
Richardson, Schroeder, Siddoway, Stegner, Stennett, Werk
NAYS -- None
Absent and excused -- None
Floor Sponsor - Cameron
Title apvd - to House
03/22 To enrol - Rpt enrol - Sp signed
03/23 Pres signed
03/26 To Governor
03/30 Governor signed
Session Law Chapter 281
Effective: 07/01/07
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]]
Fifty-ninth Legislature First Regular Session - 2007
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 92
BY BUSINESS COMMITTEE
1 AN ACT
2 RELATING TO THE DEPARTMENT OF INSURANCE; AMENDING SECTION 41-249, IDAHO CODE,
3 TO AUTHORIZE THE DEPARTMENT TO SHARE CONFIDENTIAL INFORMATION WITH FOREIGN
4 REGULATORY OR LAW ENFORCEMENT AGENCIES.
5 Be It Enacted by the Legislature of the State of Idaho:
6 SECTION 1. That Section 41-249, Idaho Code, be, and the same is hereby
7 amended to read as follows:
8 41-249. SHARING OF INFORMATION AMONG GOVERNMENTAL AGENCIES AND THE
9 NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS. (1) Any document, report, or
10 other recorded information provided to the director by any federal, or state
11 government or foreign regulatory or law enforcement agency, or any combination
12 thereof, or by the national association of insurance commissioners (NAIC),
13 which is marked "confidential" or "for regulator use only" or by similar terms
14 or concerning which the entity requires written assurance that the director
15 maintain such information in confidence before the entity will release the
16 information, may be maintained by the director on a confidential basis and is
17 not required to be disclosed to the public.
18 (2) The director may provide any document, report, or other recorded
19 information to any federal, or state government or foreign regulatory or law
20 enforcement agency, or any combination thereof, or to the NAIC, which is
21 marked "confidential" or "for regulator use only" or by similar terms or con-
22 cerning which the director requires written assurance that the entity maintain
23 such information in confidence before he will release it to such entity.
24 (3) The director is authorized to enter into agreements with other gov-
25 ernments, agencies, or any combination thereof, or with the NAIC, in connec-
26 tion with his duties and responsibilities pursuant to this section.
27 (4) The application of this section shall not prevent an insurance com-
28 pany or producer or other licensee from obtaining information used by the
29 department of insurance in making regulatory decisions or taking regulatory
30 action affecting the company consistent with chapter 3, title 9, Idaho Code,
31 and title 41, Idaho Code.
STATEMENT OF PURPOSE
RS 16485
Idaho Code Section 41-249 authorizes the Department of Insurance
to maintain the confidentiality of confidential information
received from other federal and state regulatory agencies or the
National Association of Insurance Commissioners (NAIC) and also
to share confidential information with other regulatory agencies
that agree to maintain the confidentiality of confidential
information. The ability to share confidential information is
necessary to facilitate multi-jurisdictional investigations and
examinations of regulated entities.
The proposed amendment allows the Department to also share
confidential information with foreign regulatory and law
enforcement agencies. The ability to share information with
foreign regulatory and law enforcement agencies is now a
standard necessary for state accreditation by the NAIC and
recognizes the fact that many insurance companies now have
global operations.
FISCAL NOTE
No fiscal impact.
CONTACT
Name: Georgia Hill
Agency: Insurance, Dept. of
Phone: 334-4314
STATEMENT OF PURPOSE/FISCAL NOTE H 92