§ 27-1-4.1-11 — Confidentiality; privilege; use of information; sharing and disclosure

Indiana § 27-1-4.1-11

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 1: DEPARTMENT OF INSURANCE
• Ch. 4.1: Corporate Governance Annual Disclosure

Text

(a) Documents, materials, and other
information related to a CGAD, including the CGAD, that are in the
possession or control of the department and obtained by, created by, or
disclosed to the commissioner or another person under this chapter,
are:
(1) considered to be proprietary and contain trade secrets;
(2) confidential and privileged;
(3) not subject to subpoena; and
(4) not subject to discovery or admissible in evidence in a private
civil action.
(b) The commissioner may:
(1) use the documents, materials, and other information described
in subsection (a) in relation to a regulatory or legal action brought
as part of the commissioner's duties; and
(2) otherwise make the documents, materials, and other
information public only with the prior written consent of the
insurer.
(c) The commissioner, and any other person:
(1) who receives documents, materials, or other information
related to a CGAD while acting under the authority of the
commissioner; or
(2) with whom the documents, materials, or other information are
shared;
under this chapter is not permitted or required to testify in a private
civil action concerning any documents, materials, or other information
described in subsection (a).
(d) The commissioner may, in the performance of the
commissioner's duties, do the following:
(1) Upon request, share all documents, materials, and other
information described in subsection (a) with the following if the
recipient agrees in writing, and provides written verification that
the recipient has the legal authority, to maintain the confidential
and privileged status of the documents, materials, and other
information:
(A) Other state, federal, and international financial regulatory
agencies.
(B) The NAIC.
(C) Members of a supervisory college (as defined in IC 27-1-23-1).
(D) A third party consultant under section 12 of this chapter.
(2) Receive all documents, materials, and other information
described in subsection (a) from:
(A) other state, federal, and international financial regulatory
agencies;
(B) members of a supervisory college (as defined in IC 27-1-23-1); and
(C) the NAIC;
if the commissioner maintains the confidential or privileged status
of the documents, materials, and other information that are
received with notice or the understanding that the documents,
materials, and other information are confidential or privileged
under the laws of the jurisdiction that is the source of the
documents, materials, and other information.
(e) The sharing of information by the commissioner under this
chapter is not a delegation of regulatory authority. The commissioner
is solely responsible for the administration, implementation, and
enforcement of this chapter.
(f) Disclosure to or sharing by the commissioner of documents,
materials, or other information under this chapter is not a waiver of any
applicable privilege or claim of confidentiality in the documents,
materials, or other information.

Legislative History

As added by P.L.146-2015, SEC.19.