Sec. 38a-15. Market conduct examinations.
Sec. 38a-15. Market conduct examinations. (a) The commissioner shall, as often
as he deems it expedient undertake a market conduct examination of the affairs of any
insurance company, health care center or fraternal benefit society doing business in
this state.
(b) To carry out the examinations under this section, the commissioner may appoint,
as market conduct examiners, one or more competent persons, not officers or connected
with or interested in any insurance company, health care center or fraternal benefit
society, other than as a policyholder. In conducting the examination, the commissioner,
his actuary or any examiner authorized by the commissioner may examine, under oath,
the officers and agents of such an insurance company, health care center or fraternal
benefit society and all persons deemed to have material information regarding the company's, center's or society's property or business. Each such company, center or society,
its officers and agents, shall produce the books and papers, in its or their possession,
relating to its business or affairs, and any other person may be required to produce any
book or paper, in his custody, deemed to be relevant to the examination, for the inspection
of the commissioner, his actuary or examiners, when required. The officers and agents
of the company, center or association shall facilitate the examination and aid the examiners in making the same so far as it is in their power to do so.
(c) Each market conduct examiner shall make a full and true report of each market
conduct examination made by him, which shall comprise only facts appearing upon the
books, papers, records or documents of the examined company, center or society or
ascertained from the sworn testimony of its officers or agents or of other persons examined under oath concerning its affairs. The examiner's report shall be presumptive evidence of the facts therein stated in any action or proceeding in the name of the state
against the company, center or society, its officers or agents. The commissioner shall
grant a hearing to the company, center or society examined, before filing any such report,
and may withhold any such report from public inspection for such time as he deems
proper. The commissioner may, if he deems it in the public interest, publish any such
report, or the result of any such examination contained therein, in one or more newspapers of the state.
(d) All the expense of any examination made under the authority of this section,
other than examinations of domestic insurance companies, shall be paid by the company,
center or society examined, and domestic insurance companies and other domestic entities examined outside the state shall pay the traveling and maintenance expenses of
examiners.
(P.A. 90-243, S. 4.)
See Sec. 38a-323(g) re market conduct examinations and insurer's good faith effort re personal and commercial risk
policy billing practices.