Vermont § 8506 - Commission records and enforcement

§ 8506. Commission records and enforcement

• (a) The Commission shall adopt rules establishing conditions and procedures for public
  inspection and copying of its information and official records, except such information
  and records involving the privacy of individuals and insurers’ trade secrets. The
  Commission may adopt additional rules under which it may make available to federal
  and state agencies, including law enforcement agencies, records and information otherwise
  exempt from disclosure, and may enter into agreements with such agencies to receive
  or exchange information or records subject to nondisclosure and confidentiality provisions. (b) Except as to privileged records, data, and information, the laws of any compacting
  state pertaining to confidentiality or nondisclosure shall not relieve any compacting
  state commissioner of the duty to disclose any relevant records, data, or information
  to the Commission, provided that disclosure to the Commission shall not be deemed
  to waive or otherwise affect any confidentiality requirement; and further provided
  that, except as otherwise expressly provided in this chapter, the Commission shall
  not be subject to the compacting state’s laws pertaining to confidentiality and nondisclosure
  with respect to records, data, and information in its possession. Confidential information
  of the Commission shall remain confidential after such information is provided to
  any commissioner. (c) The Commission shall monitor compacting states for compliance with duly adopted bylaws,
  rules, including uniform standards, and operating procedures. The Commission shall
  notify any noncomplying compacting state in writing of its noncompliance with Commission
  bylaws, rules, or operating procedures. If a noncomplying compacting state fails to
  remedy its noncompliance within the time specified in the notice of noncompliance,
  the compacting state shall be deemed to be in default as set forth in section 8513
  of this chapter. (d) The commissioner of any state in which an insurer is authorized to do business, or
  is conducting the business of insurance, shall continue to exercise his or her authority
  to oversee the market regulation of the activities of the insurer in accordance with
  the provisions of the state’s law. The commissioner’s enforcement of compliance with
  the compact is governed by the following provisions: (1) With respect to the commissioner’s market regulation of a product or advertisement
  that is approved or certified to the Commission, the content of the product or advertisement
  shall not constitute a violation of the provisions, standards, or requirements of
  the compact except upon a final order of the Commission, issued at the request of
  a commissioner after prior notice to the insurer and an opportunity for hearing before
  the Commission. (2) Before a commissioner may bring an action for violation of any provision, standard,
  or requirement of the compact relating to the content of an advertisement not approved
  or certified to the Commission, the Commission, or an authorized Commission officer
  or employee, must authorize the action. However, authorization pursuant to this subdivision
  does not require notice to the insurer, opportunity for hearing or disclosure of requests
  for authorization, or records of the Commission’s action on such requests. (Added 2005, No. 70, § 2.)