58-3-7. Information to be available--Cooperation of persons being examined.

Every person being examined, its officers, employees, insurance producers, and representatives shall produce and make freely available to the director or the director's examiners the accounts, records, documents, files, assets, and other relevant information in their possession or control relating to the subject of the examination, and shall otherwise facilitate and aid the examination as far as reasonably possible.

Source: SL 1966, ch 111, ch 2, § 18 (2); SL 2001, ch 286, § 62; SL 2012, ch 241, § 1.

58-3-7.1. Observance of guidelines and procedures by examiner.

The examiner shall observe those guidelines and procedures set forth in the Examiners Handbook adopted by the National Association of Insurance Commissioners as adopted by rule by the director pursuant to chapter 1-26. The director may also establish additional guidelines or procedures the director considers appropriate.

Source: SL 1992, ch 338, § 5; SL 1993, ch 357, § 1; SL 1995, ch 273, § 2.

58-3-7.2. Penalty upon refusal to submit to examination--Suspension, refusal of, or nonrenewal of, license.

The refusal of any company, by its officers, directors, employees, or insurance producers, to submit to examination or to comply with any reasonable written request of the examiners constitutes grounds for suspension or refusal of, or nonrenewal of any license or authority held by the insurer or person to engage in an insurance or other business subject to the director's jurisdiction.

Source: SL 1992, ch 338, § 6; SL 2001, ch 286, § 63.

58-3-7.3. Examination under oath--Authority of director or examiner.

The director or any examiner authorized by the director may issue subpoenas, administer oaths, and examine under oath any person as to any matter pertinent to the examination. Subpoenas may be enforced pursuant to chapters 1-26, 15-6, and 21-34.

Source: SL 1992, ch 338, § 7.

58-3-7.4. Insurer's claim files subject to examination--File maintenance requirements.

Each insurer's claim files for policies or certificates are subject to examination pursuant to chapter 58-3 by the director of insurance. To aid in the examination:

(1)    The insurer shall maintain claim data that is accessible and retrievable for examination. An insurer shall be able to provide the claim number, line of coverage, date of loss, and date of payment of the claim, date of denial, or date closed without payment. This claim data shall be available for all open and closed files for five years;

(2)    Detailed documentation shall be contained in each claim file in order to permit reconstruction of the insurer's activities relative to each claim;

(3)    Each relevant document within the claim file shall be noted as to date received, date processed, or date mailed. Dated correspondence is sufficient to document the date mailed for the purposes of this subdivision;

(4)    For those insurers that do not maintain hard copy files, claim files shall be accessible from a computer, microfilm, Cathode Ray Tube (CRT), micrographics, or other similar electronic means and be capable of duplication to hard copy; and

(5)    Claim information obtained in a telephone conversation or personal interview with any source which is used in the claim determination shall be documented in the claim file.

Source: SL 1997, ch 283, § 5; SL 2009, ch 257, § 1.