Vermont § 3574 - Examination reports

§ 3574. Examination reports

• (a) General description. All examination reports shall be comprised of only facts appearing upon the books,
  records, or other documents of the company, its agents or other persons examined,
  or as ascertained from the testimony of its officers or agents or other persons examined
  concerning its affairs, and such conclusions and recommendations as the examiners
  find reasonably warranted from the facts. (b) Filing of examination report. No later than 60 days following completion of the examination, the examiner in charge
  shall file with the Department a written report of examination under oath. Upon receipt
  of the report, the Department shall transmit the report to the company examined, together
  with a notice that shall afford the company examined a reasonable opportunity of not
  more than 30 days to make a written submission or rebuttal with respect to any matters
  contained in the examination report. (c) Adoption of report on examination. Within 30 days of the end of the period allowed for the receipt of written submissions
  or rebuttals, the Commissioner shall fully consider and review the report, together
  with any written submissions or rebuttals and any relevant portions of the examiner’s
  work papers and shall order the report adopted together with any modifications and
  amendments that he or she deems appropriate. If the examination report reveals that
  the company is operating in violation of any law, regulation or prior order of the
  Commissioner, the Commissioner may order the company to take any action the Commissioner
  considers necessary and appropriate to cure such violation. The company may file an
  administrative appeal within 30 days of the Commissioner’s order. Such appeal shall
  be heard in accordance with 3 V.S.A. chapter 25. (d) Publication and use. (1) The Commissioner may hold the contents of the examination report confidential for
  15 days following the issuance of the Commissioner’s order under subsection (c) of
  this section. (2) The Commissioner may disclose the content of an examination report, preliminary examination
  report or results, or any related matter, to the insurance department of any other
  state or country, or to law enforcement officials of this or any other state or agency
  of the federal government at any time, as long as such agency or office receiving
  the report or related matters agrees in writing to hold it in a manner consistent
  with this section. (3) The Commissioner may refuse to disclose any information or records that would indicate
  or show the existence or content of any investigation or activity of a criminal justice
  agency. (4) All working papers, recorded information, documents and copies thereof produced by,
  obtained by or disclosed to the Commissioner or any other person in the course of
  an examination made under this section are confidential and are not subject to subpoena
  and may not be made public by the Commissioner or any other person, except to the
  extent provided in this subsection and subsection 3573(e) of this title. The Commissioner may grant access to such information to the National Association
  of Insurance Commissioners. Such parties must agree in writing prior to receiving
  the information to provide to it the same confidential treatment as required by this
  section, unless the prior written consent of the company to which it pertains has
  been obtained. (Added 1991, No. 249 (Adj. Sess.), § 6.)