HRS §431:9J-106
Keeping records and letting the insurance commissioner inspect them
This section requires an administrator to keep complete records of all transactions with insurers and insureds, and to keep them for the agreement period plus five years. The insurance commissioner can inspect these records, and any information the commissioner gets is confidential and cannot be used in private lawsuits. The administrator still has the right to access its own records to do its job.
The statute, as written — Recordkeeping required; commissioner's access to records
(a) An administrator shall maintain and make available to the insurer complete books and records of all transactions between the administrator, insurers, and insureds. The books and records shall be maintained in accordance with prudent standards of insurance recordkeeping and for the duration of the written agreement and five years thereafter. (b) The commissioner shall have access to the books and records for examination, audit, and inspection. Any documents, materials, or other information in the possession or control of the commissioner that are furnished by an administrator, payor, or insurance producer or an employee or agent thereof acting on behalf of the administrator, payor, or insurance producer, or obtained by the commissioner in an investigation shall be confidential by law and privileged and shall not be subject to chapters 92 and 92F, subpoena, and discovery or admissible in evidence in any private civil action. The commissioner is authorized to use such documents, materials, or other information in the furtherance of any regulatory or legal action brought as a part of the commissioner's official duties. (c) An administrator shall retain the right to continuing access to the books and records to fulfill its contractual obligations to the insurer and insureds, subject to any restrictions in the written agreement.
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