insurance; modeling organizations; predictive models

The definition of 'advisory organization' was updated to explicitly exclude 'modeling and data organizations' that have not complied with the section or a Director's order.

The Director's authority to examine 'modeling and data organizations' was clarified to be consistent with the examination of other advisory organizations.

Capitalization was standardized for terms such as 'modeling and data organization' and 'advisory organization' to improve consistency across the statute.

Redundant text regarding the discontinuance of violations was removed to improve readability.

Added a new, combined definition for 'modeling and data organization' to clarify that entities assisting insurers with data and predictive models are subject to the same regulatory rules as traditional advisory organizations.

Mandated that modeling and data organizations file their constitution, bylaws, and a list of member insurers with the state director, similar to requirements for other rate-making entities.

Authorized the state director to examine the officers, records, and operations of modeling and data organizations to ensure compliance with insurance laws.

Updated the definition of 'advisory organization' to include modeling and data organizations, ensuring they are treated as a single regulatory category.

Clarified that members of modeling and data organizations may use the organization's work products without it being interpreted as an illegal agreement to fix insurance rates.