N.Y. Ins. Law § 1504

§ 1504. Reporting; examination; publication. (a) (1) Every controlled\ninsurer shall file with the superintendent such reports or material as\nthe superintendent may direct for the purpose of disclosing information\nconcerning the operations of persons within the holding company system\nthat may materially affect the operations, management or financial\ncondition of the insurer.\n (2) To determine compliance with this article, the superintendent may\norder any controlled insurer to produce information not in the insurer's\npossession if the insurer can obtain access to the information pursuant\nto contractual relationships, statutory obligations, or other method. In\nthe event the insurer cannot obtain the information requested by the\nsuperintendent, the insurer shall provide the superintendent a detailed\nexplanation of the reason that the insurer cannot obtain the information\nand the identity of the holder of information. Whenever it appears to\nthe superintendent that the detailed explanation is without merit, in\naddition to any other penalty provided by law, the superintendent, after\nnotice and an opportunity to be heard, may levy a penalty against the\ninsurer not to exceed five hundred dollars per day for each day beyond\nthe date specified by the superintendent for response.\n (b) Every holding company and every controlled person within a holding\ncompany system shall be subject to examination by order of the\nsuperintendent if the superintendent has cause to believe that the\noperations of such persons may materially affect the operations,\nmanagement or financial condition of any controlled insurer within the\nsystem, including by posing enterprise risk to the insurer, and that the\nsuperintendent is unable to obtain relevant information from such\ncontrolled insurer. The grounds relied upon by the superintendent for\nsuch examination shall be stated in the superintendent's order. Such\nexamination shall be confined to matters specified in the order. The\ncost of such examination shall be assessed against the person examined\nand no portion thereof shall thereafter be reimbursed to it directly or\nindirectly by the controlled insurer.\n (c) The superintendent shall keep the contents of each report made\npursuant to this article and any information obtained in connection\ntherewith confidential and shall not make the same public without the\nprior written consent of the controlled insurer to which it pertains\nunless the superintendent after notice and an opportunity to be heard,\nshall determine that the interests of policyholders, shareholders or the\npublic will be served by the publication thereof. In any action or\nproceeding by the superintendent against the person examined or any\nother person within the same holding company system a report of such\nexamination published by the superintendent shall be admissible as\nevidence of the facts stated therein.\n