SCS/SB 1348 - This act specifies that certain confidentiality provisions shall also apply to records used in market conduct investigations and actions. The act further provides that regulated entities shall have at least 30 calendar days to submit any record or material requested by the Department of Commerce and Insurance, except for the Division of Consumer Affairs. Records maintained beyond the required retention period shall not be required to be produced unless the Director has substantial and competent evidence the regulated entity committed a level 4 or 5 violation of the insurance laws of this state or a felony related to the business of insurance.
This act is similar to provisions in the truly agreed to and finally passed HCS/SS/SB 1359 (2024), provisions in HCS/SS/SCS/SB 834 (2024), provisions in HB 2440 (2024), and provisions in HB 2524 (2024).
ERIC VANDER WEERD