A Senate subcommittee distributed California Department of Insurance market conduct examinations in defiance of a state law that prohibits the release of these materials, the Association of California Insurance Companies (ACIC) said yesterday.
ACIC President Barry Carmody said that: “The reports are nothing more than the preliminary assertions of alleged violations deveoped by the Department of Insurance Staff more than two years ago.” He said the documents themselves contained the reports’ confidentiality statement.
The Senate Insurance Committee had issued a subpoena to Commissioner Quackenbush for the documents. The CDI went to court fo fight the subpoena, with ACIC’s support, but the subpoena was withdrawn before a ruling was handed down in Superior Court. ACIC based its intervention on Insurance Code Section 735.5(c), which provides that all information obtained by the department in the course of a market conduct examination is confidential, not subject to subpoena and not to be publicly disclosed.
Banks Still Face Legal Claims After $25 Billion Settlement
MF Global Judge to Examine Insurance Payments for Former Executives
Daredevil CEOs May Put Companies at Risk
California Independent Contractor Law May Be Liability for Agents, Brokers
North Carolina Continues Auto Regulation Debate As Rates Stay Same for 2012
Long-time California Lobbyist Looks to 2012 Legislation Affecting Insurance
Mine Safety Chief Seeks to End Complacency Over Safety
Virginia Court Grants Rehearing of Global Warming Claims Case
