§ 991.2607. Third-party consultants
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 40 P.S. InsuranceEffective: January 1, 2015
Effective: January 1, 2015
40 P.S. § 991.2607
§ 991.2607. Third-party consultants
(a) Authorization.--The department may retain, at the insurer's expense, third-party consultants, including attorneys, actuaries, accountants and other experts not otherwise a part of the department's staff as may be reasonably necessary to assist the department in reviewing the risk management framework, ORSA, ORSA summary report or the insurer's compliance with this article.
(d) Verification.--As part of the retention process, a third-party consultant shall verify to the department, with notice to the insurer, that it is free of a conflict of interest and that it has internal procedures in place to monitor compliance with a conflict and to comply with the confidentiality standards and requirements of this act.
(e) Written consent.--A retention agreement with a third-party consultant shall expressly require the written consent of the insurer prior to making public information provided under this act, as required under section 2608(a).1
Credits
1921, May 17, P.L. 682, No. 284, art. XXVI, § 2607, added 2013, Oct. 25, P.L. 656, No. 78, § 2, effective Jan. 1, 2015.
Footnotes
40 P.S. § 991.2608.
40 P.S. § 991.2607, PA ST 40 P.S. § 991.2607
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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