Pennsylvania Statutes Title 40 P.S. Insurance § 324.7. Maintenance of information; examination

Every administrator shall maintain, at its principal administrative office for the duration of the written agreement referred to in section 1005 and five years thereafter, adequate books of all transactions and records of all transactions between it, the benefit plan and persons covered under the benefit plan. The commissioner shall have access to all books and records which are the property of administrators required to be maintained by this act for the purpose of examination, audit, inspection and investigation. Books and records, the property of bona fide employe benefit plans established by an employer or employe organization, or both, may be available to the department for audit, inspection, examination or investigation at the option of the employer or employe organization. Nothing in this subsection is intended to abridge or interfere with the department's authority to review all records necessary to determine jurisdiction over any entity that may be subject to this or other insurance laws generally. Expenses incurred by the department in examination of administrators shall be paid by the administrator in the same manner, and in the same amounts, pursuant to the examination provisions of this act and applicable regulations. Trade secrets, including the identity and addresses of policyholders and certificate holders, will be treated as confidential by the department, except the department may use that information in proceedings instituted against the administrator. The entity providing the benefit plan shall retain the right to continuing access to the books and records of the administrator sufficient to permit the benefit plan to fulfill all of its contractual obligations to the persons covered under the benefit plan, subject to any restrictions in the written agreement between the entity providing the benefit plan and the administrator on the proprietary rights of the parties in the books and records.