Printable Format60-3356. Same; definitions. As used in this act, the following words and phrases shall have the meaning ascribed to them in this section: (a) "Commissioner" means the commissioner of insurance or the commissioner's authorized designee.
(b) "Insurance company" or "insurer" shall have the meaning ascribed to the term insurer in K.S.A. 40-112 and amendments thereto.
(c) "Insurance compliance audit" means a voluntary, internal evaluation, review, assessment, audit or investigation for the purpose of identifying or preventing noncompliance with, or promoting compliance with laws, regulations, orders, or industry or professional standards, which is conducted by or on behalf of any insurance company licensed or regulated under the Kansas insurance code, or which involves an activity regulated under the Kansas insurance code. Once initiated an audit shall be completed within a reasonable period of time. Nothing in this section shall be construed to authorize uninterrupted or continuous auditing.
(d) "Insurance compliance self-evaluative audit document" means any document prepared as a result of or in connection with an insurance compliance audit. An insurance compliance self-evaluative audit document may include:
(1) A written response to the findings of an insurance compliance audit.
(2) Any supporting information is collected or developed for the primary purpose and in the course of an insurance compliance audit including, but is not limited to, field notes and records of observations, findings, opinions, suggestions, conclusions, drafts, memoranda, drawings, photographs, exhibits, computer-generated or electronically recorded information, phone records, maps, charts, graphs and surveys.
(3) Any of the following:
(A) An insurance compliance audit report prepared by an auditor, who may be an employee of the insurance company or an independent contractor, which may include the scope of the audit, the information gained in the audit, and conclusions and recommendations, with exhibits and appendices;
(B) memoranda and documents analyzing portions or all of the insurance compliance audit report and discussing potential implementation issues;
(C) an implementation plan that addresses correcting past noncompliance, improving current compliance, and preventing future noncompliance; or
(D) analytic data generated in the course of conducting the insurance compliance audit.
(e) Presiding officer shall have the meaning ascribed to it in K.S.A. 77-514 and amendments thereto.
History: L. 2005, ch. 148, ยง 6; July 1.