(a) Except as provided in section 4687 of this title, the Commissioner shall review and approve as appropriate, reasonable rules and plans for recording and reporting of loss and expense experience in appropriate form and detail and shall by rule, promulgated on or before October 1, 1988, require insurers to file loss and expense data and investment income statistics in such form and detail as he or she deems appropriate. Notwithstanding any other provision of this chapter, the Commissioner may designate one or more advisory or service organizations or contractors to assist in the gathering of such experience and making and distributing compilations thereof.

(b) The Commissioner and every insurer, advisory or service organization may exchange information and experience data with insurance regulatory officials, insurers, advisory or service organizations in this and other states and may consult with them with respect to ratemaking and the application of rating systems. (Added 1983, No. 238 (Adj. Sess.), § 1;1987, No. 185 (Adj. Sess.), § 4, eff. May 5, 1988.)