2007 Legislation
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HOUSE BILL NO. 92 – Insurance Dept, confidential info

HOUSE BILL NO. 92

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Bill Status



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

Bill Text


                                                                        
                                                                        
  ]]]]              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 / Fiscal Impact


                     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