Page 321

House Bill No. 5506

Public Act No. 22-118 321 of 739

capital calculation or to accept a limited group capital filing or report in accordance with criteria as specified by the lead state commissioner in regulation. (5) If the lead state commissioner determines that an insurance holding company system no longer meets one or more of the requirements for an exemption for filing the group capital calculation under subdivision (2) of this subsection, the insurance holding company system shall file the group capital calculation at the next annual filing date unless given an extension by the lead state commissioner based on reasonable grounds shown. (6) The information reported and provided to the lead state commissioner by an insurance holding company, including an insurance holding company supervised by the United States Federal Reserve Board pursuant to this subsection, shall: (A) Be confidential by law and privileged; (B) Not be subject to disclosure under section 1-210; (C) Not be subject to subpoena; and (D) Not be subject to discovery or admissible in any civil action. (7) The group capital calculation and resulting group capital ratio required pursuant to this subsection are regulatory tools for assessing group risks and capital adequacy and are not intended as a means to rank insurers or insurance holding company systems generally. (h) The ultimate controlling person of every insurer subject to registration and also scoped into the NAIC liquidity stress test framework shall file the results of a specific year's liquidity stress test to the lead state insurance commissioner of the insurance holding company system as determined by procedures within the Financial