§ 26-44-110 — Confidential treatment

Wyoming § 26-44-110

• Jurisdiction: Wyoming
• Title 26: Insurance Code
• Ch. 44: INSURANCE HOLDING COMPANY SYSTEM REGULATORY ACT

Text

(a) All information, documents and copies of the documents
and information obtained by or disclosed to the commissioner or
any other person in the course of an examination made pursuant
to W.S. 26-44-109 and all information reported pursuant to W.S.
26-44-103(b)(xii) and (xiii), 26-44-104 through 26-44-108 and
26-44-119 shall be confidential, shall not be subject to
subpoena and shall not be disclosed by the commissioner, the
National Association of Insurance Commissioners, or any person,
except as authorized by and in accordance with the provisions of
W.S. 26-2-113(d), without the prior written consent of the
insurer to which the information pertains. The commissioner,
after giving the insurer and its affiliates notice and
opportunity to be heard, may determine that the interest of
policyholders, shareholders or the public will be served by the
publication of the information, in which event he may publish
all or any part of the information as he deems appropriate,
except as provided in this paragraph. The following shall apply
to information reported and provided to the department of
insurance pursuant to W.S. 26-44-104(p) and (q):
(i) For purposes of the information reported and
provided to the department of insurance pursuant to W.S. 26-44-
104(p), the commissioner shall maintain the confidentiality of
the group capital calculation and group capital ratio produced
within the calculation and any group capital information
received from an insurance holding company supervised by the
United States federal reserve board or any United States group
wide supervisor;
(ii) For purposes of the information reported and
provided to the department of insurance pursuant to W.S. 26-44-
104(q), the commissioner shall maintain the confidentiality of
the liquidity stress test results and supporting disclosures and
any liquidity stress test information received from an insurance
holding company supervised by the United States federal reserve
board and non-United States group wide supervisors.
(b) Neither the commissioner nor any person who received
documents, materials or other information while acting under the
authority of the commissioner or with whom the documents,
materials or other information are shared pursuant to this act
shall be permitted or required to testify in any private civil
action concerning any confidential documents, materials or
information subject to subsection (a) of this section.
(c) Notwithstanding W.S. 26-2-113, the commissioner shall
only share confidential and privileged documents, material or
information reported pursuant to W.S. 26-44-104(n) with
commissioners of states having statutes or regulations
substantially similar to Wyoming insurance statutes and who have
agreed in writing not to disclose the information.
(d) In addition to any other authorities provided by law,
the commissioner shall enter into written agreements with the
NAIC governing sharing and use of information provided pursuant
to this act consistent with this subsection which shall:
(i) Specify procedures and protocols regarding the
confidentiality and security of information shared with the NAIC
or a third-party consultant designated by the commissioner
pursuant to this act, including procedures and protocols for
sharing by the NAIC with other state, federal or international
regulators. The agreement shall provide that the recipient
agrees in writing to maintain the confidentiality and privileged
status of the documents, materials or other information and has
verified in writing the legal authority to maintain such
confidentiality;
(ii) Specify that ownership of information shared
with the NAIC or a third-party consultant designated by the
commissioner pursuant to this act remains with the commissioner
and the NAIC's or a third-party consultant as designated by the
commissioner's use of the information is subject to the
direction of the commissioner;
(iii) Require prompt notice to be given to an insurer
whose confidential information in the possession of the NAIC or
a third-party consultant designated by the commissioner pursuant
to this act is subject to a request or subpoena to the NAIC or a
third-party consultant designated by the commissioner for
disclosure or production;
(iv) Require the NAIC or a third-party consultant
designated by the commissioner to consent to intervention by an
insurer in any judicial or administrative action in which the
NAIC or a third-party consultant designated by the commissioner
may be required to disclose confidential information about the
insurer shared with the NAIC or a third-party consultant
designated by the commissioner pursuant to this chapter;
(v) Excluding documents, material or information
reported pursuant to W.S. 26-44-104(q), prohibit the NAIC or
third-party consultant designated by the commissioner from
storing the information shared pursuant to this act in a
permanent database after the underlying analysis is completed;
(vi) For documents, material or information reported
pursuant to W.S. 26-44-104(q), in the case of an agreement
involving a third-party consultant designated by the
commissioner, provide for notification of the identity of the
third-party consultant designated by the commissioner to the
applicable insurers.
(e) The sharing of information by the commissioner
pursuant to this chapter shall not constitute a delegation of
regulatory authority or rulemaking and the commissioner is
solely responsible for the administration, execution and
enforcement of the provisions of this chapter.
(f) No waiver of any applicable privilege or claim of
confidentiality in the documents, materials or information shall
occur as a result of disclosure to the commissioner under this
chapter or as a result of sharing as authorized under this
chapter.
(g) Documents, materials or other information in the
possession or control of the NAIC or a third-party consultant
designated by the commissioner pursuant to this chapter shall be
confidential by law and privileged, shall not be a public record
under W.S. 16-4-201 through 16-4-205, shall not be subject to
subpoena and shall not be subject to discovery or admissible in
evidence in any private civil action.