Sec. 1. 24-A MRSA c. 5, sub-c. III is enacted to read:

SUBCHAPTER III

INSURANCE COMPLIANCE SELF-AUDITS

§491.__Definitions

As used in this subchapter, unless the context otherwise indicates, the following terms have the following meanings.

1.__Insurance compliance self-audit.__"Insurance compliance self-audit" means a voluntary internal evaluation, review, assessment or audit not otherwise expressly required by law of an insurer or an activity regulated under the state insurance laws and rules adopted under them, or other laws of this State or other states or federal law applicable to an insurer, or of management systems related to the insurer or activity, that is designed to identify and prevent noncompliance and to improve compliance with such statutes or rules.

2.__Insurance compliance self-audit document.__"Insurance compliance self-audit document" means any document prepared as a result of or in connection with and not prior to an insurance compliance self-audit.__"Insurance compliance self-audit document" includes a written response to the findings of an insurance compliance self-audit.__"Insurance compliance self- audit document" includes, but is not limited to, field notes and records of observations, findings, opinions, suggestions, conclusions, drafts, memoranda, drawings, photographs, computer- generated or electronically recorded information, phone records, maps, charts, graphs and surveys, if this supporting information is collected or developed for the primary purpose and in the course of an insurance compliance self-audit.__"Insurance compliance self-audit document" also includes any of the following:

A.__A report prepared by an auditor, who may be an employee of the insurer 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 report and discussing potential implementation issues;