Texas Insurance Code

§ 831.0012 — NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS AND THIRD-PARTY CONSULTANTS

IN § 831.0012Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part B. ORGANIZATION OF REGULATED ENTITIES · Ch. 831. CORPORATE GOVERNANCE ANNUAL DISCLOSURE

Statute text

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(a)The commissioner may retain, at the insurer's expense, third-party consultants, including attorneys, actuaries, accountants, and other experts not otherwise part of the commissioner's staff as may be reasonably necessary to assist the commissioner in reviewing the disclosure and related information or the insurer's compliance with this chapter.

(b)A person retained under Subsection (a) is under the direction and control of the commissioner and acts in a purely advisory capacity.

(c)The National Association of Insurance Commissioners and a third-party consultant are subject to the same confidentiality standards and requirements as the commissioner.

(d)As part of the retention process, a third-party consultant shall verify to the commissioner, with notice to the insurer, that the consultant:

(1)is free of a conflict of interest; and

(2)has internal procedures in place to:

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Legislative history

Added by Acts 2019, 86th Leg., R.S., Ch. 1170 (H.B. 3306), Sec. 1, eff. September 1, 2019.