Subchapter 5: PROPERTY AND CASUALTY ACTUARIAL OPINION
§994. Confidentiality
1.Statement of actuarial opinion. The statement of actuarial opinion under section 993, subsection 1 must be provided with the annual actuarial opinion under
section 993, subsection 2 in accordance with the appropriate NAIC property and casualty annual statement instructions and
is a public record subject to disclosure pursuant to Title 1, chapter 13.
[
2007, c. 281, §2 (NEW);
2007, c. 281, §3 (AFF)
.]
2.Documents in possession of bureau. The confidentiality of documents in the possession of the bureau is governed by this subsection.
A. Documents, materials or other information in the possession or control of the bureau that are considered an actuarial report,
work papers or actuarial opinion summary provided in support of the opinion, as described in section 993, and any other material
provided by the property and casualty insurance company to the superintendent in connection with the actuarial report, work
papers or actuarial opinion summary are confidential and not subject to disclosure pursuant to Title 1, chapter 13. [2007, c. 281, §2 (NEW); 2007, c. 281, §3 (AFF).]
B. This subsection may not be construed to limit the superintendent’s authority to release documents to the Actuarial Board for
Counseling and Discipline or successor organization as long as the material is required for the purpose of professional disciplinary
proceedings and the Actuarial Board for Counseling and Discipline establishes procedures satisfactory to the superintendent
for preserving the confidentiality of the documents. This section may not be construed to limit the superintendent’s authority
to use the documents, materials or other information in furtherance of any regulatory or legal action brought as part of the
superintendent’s official duties. [2007, c. 281, §2 (NEW); 2007, c. 281, §3 (AFF).]
[
2007, c. 281, §2 (NEW);
2007, c. 281, §3 (AFF)
.]
3.Testimony. Neither the superintendent nor any person who received documents, materials or other information while acting under the
authority of the superintendent is permitted or required to testify in any private civil action concerning any confidential
documents, materials or information subject to subsection 2.
[
2007, c. 281, §2 (NEW);
2007, c. 281, §3 (AFF)
.]
4.Sharing of documents. In order to assist in the performance of the superintendent’s duties, the superintendent may:
A. Share documents, materials or other information, including confidential and privileged documents, materials or information
subject to subsection 2, with other state, federal and international regulatory agencies, with the NAIC and its affiliates
and subsidiaries and with state, federal and international law enforcement authorities, as long as the recipient agrees to
maintain the confidentiality of the document, material or other information and has the legal authority to maintain confidentiality; [2007, c. 281, §2 (NEW); 2007, c. 281, §3 (AFF).]
B. Receive documents, materials or information, including otherwise confidential and privileged documents, materials or information,
from the NAIC and its affiliates and subsidiaries and from regulatory and law enforcement officials of other foreign or domestic
jurisdictions. The superintendent shall maintain as confidential any document, material or information received with notice
or the understanding that it is confidential under the laws of the jurisdiction that is the source of the document, material
or information; and [2007, c. 281, §2 (NEW); 2007, c. 281, §3 (AFF).]
C. Enter into agreements governing sharing and use of information consistent with this subsection and subsections 2 and 3. [2007, c. 281, §2 (NEW); 2007, c. 281, §3 (AFF).]
[
2007, c. 281, §2 (NEW);
2007, c. 281, §3 (AFF)
.]
5.Waiver. No waiver of a claim of confidentiality in the documents, materials or information may occur as a result of disclosure to
the superintendent under this section or as a result of sharing as authorized in subsection 4.
[
2007, c. 281, §2 (NEW);
2007, c. 281, §3 (AFF)
.]
SECTION HISTORY
2007, c. 281, §2 (NEW).
2007, c. 281, §3 (AFF).
Data for this page extracted on 11/09/2009 11:20:25.