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Substitute House Bill No. 6443

Public Act No. 03-104

AN ACT CONCERNING THE CONFIDENTIALITY OF CERTAIN INSURANCE COMPANY STATEMENTS FILED WITH THE INSURANCE COMMISSIONER.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. Section 38a-69a of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2003):

(a) All financial analyses, financial examination workpapers, operating and financial condition reports concerning any insurance company, fraternal benefit society or health care center prepared by or on behalf of or for the use of the Insurance Commissioner or the Insurance Department examiner, shall be confidential unless such documents are otherwise a matter of public record, or the commissioner, in [his] the commissioner's opinion deems it in the public interest to disclose or otherwise make available for public inspection the information contained in such documents.

(b) Any supplemental compensation exhibit or stockholder information supplement in an annual report filed with the commissioner and prepared in accordance with the National Association of Insurance Commissioners Annual Statement Instructions shall be confidential and shall not be available for public inspection if submitted by a nonprofit insurance company that has fewer than one hundred fifty employees. The provisions of this subsection shall not apply to information in such exhibit or supplement concerning such company's three most highly compensated officers.

Approved June 18, 2003