374.185. Uniformity of regulation, director to cooperate.
Uniformity of regulation, director to cooperate.
374.185. 1. The director may cooperate, coordinate, and consult withother members of the National Association of Insurance Commissioners, thecommissioner of securities, state securities regulators, the division offinance, the division of credit unions, the attorney general, federalbanking and securities regulators, the National Association of SecuritiesDealers (NASD), the United States Department of Justice, the CommodityFutures Trading Commission, and the Federal Trade Commission to effectuategreater uniformity in insurance and financial services regulation amongstate and federal governments, and self-regulatory organizations. Thedirector may share records with any aforesaid entity, except that anyrecord that is confidential, privileged, or otherwise protected fromdisclosure by law shall not be disclosed unless such entity agrees inwriting prior to receiving such record to provide it the same protection.No waiver of any applicable privilege or claim of confidentiality regardingany record shall occur as the result of any disclosure.
2. In cooperating, coordinating, consulting, and sharing records andinformation under this section and in acting by rule, order, or waiverunder the laws relating to insurance, the director shall, at the discretionof the director, take into consideration in carrying out the publicinterest the following general policies:
(1) Maximizing effectiveness of regulation for the protection ofinsurance consumers;
(2) Maximizing uniformity in regulatory standards; and
(3) Minimizing burdens on the business of insurance, withoutadversely affecting essentials of consumer protection.
3. The cooperation, coordination, consultation, and sharing ofrecords and information authorized by this section includes:
(1) Establishing or employing one or more designees as a centralelectronic depository for licensing and rate and form filings with thedirector and for records required or allowed to be maintained;
(2) Encouraging insurance companies and producers to implementelectronic filing through a central electronic depository;
(3) Developing and maintaining uniform forms;
(4) Conducting joint market conduct examinations and otherinvestigations through collaboration and cooperation with other insuranceregulators;
(5) Holding joint administrative hearings;
(6) Instituting and prosecuting joint civil or administrativeenforcement proceedings;
(7) Sharing and exchanging personnel;
(8) Coordinating licensing under section 375.014, RSMo;
(9) Formulating rules, statements of policy, guidelines, forms, noaction determinations, and bulletins; and
(10) Formulating common systems and procedures.
(L. 2007 S.B. 66)