§ 26-54-106 — Confidentiality

Wyoming § 26-54-106

• Jurisdiction: Wyoming
• Title 26: Insurance Code
• Ch. 54: CORPORATE GOVERNANCE ANNUAL DISCLOSURE

Text

(a) Documents, materials or other information, including
the CGAD, in the possession or control of the department that
are obtained by, created by or disclosed to the commissioner or
any other person under this act, are recognized by this state as
being proprietary and to contain trade secrets. All the
documents, materials or other information shall be confidential
by law and privileged, shall not be considered public records
pursuant to W.S. 16-4-201 through 16-4-205, shall not be subject
to subpoena and shall not be subject to discovery or admissible
as evidence in any private civil action. The commissioner is
authorized to use the documents, materials or other information
in the furtherance of any regulatory or legal action brought as
a part of the commissioner's official duties. The commissioner
shall not otherwise make the documents, materials or other
information public without the prior written consent of the
insurer. Nothing in this section shall be construed to require
written consent of the insurer before the commissioner may share
or receive documents, materials or other information pursuant to
subsection (c) of this section and as necessary to assist in the
performance of the commissioner's regular duties.
(b) Neither the commissioner nor any other person who
receives documents, materials or other information subject to
subsection (a) of this section, through examination or
otherwise, while acting under the authority of the commissioner,
or with whom such documents, materials or other information are
shared pursuant to this act, shall testify in any private civil
action concerning the documents, materials or other information.
(c) In order to assist in the performance of the
commissioner's regulatory duties, the commissioner may:
(i) Upon request, share documents, materials or other
information, including confidential and privileged documents,
materials or other information, which may include proprietary or
trade secret information, with other state, federal and
international financial regulatory agencies, including members
of any supervisory college as defined under W.S. 26-44-118, with
the National Association of Insurance Commissioners and with
third party consultants pursuant to W.S. 26-54-107, provided
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 confidentiality;
(ii) Receive documents, materials or other
information, including confidential and privileged documents,
materials or other information, which may include proprietary or
trade secret information, from regulatory officials of other
state, federal and international financial regulatory agencies,
including members of any supervisory college as defined under
W.S. 26-44-118 and from the National Association of Insurance
Commissioners. The commissioner shall maintain as confidential
and privileged any documents, materials or other information
received under this paragraph with notice or the understanding
that it is confidential and privileged under the law of the
jurisdiction that is the source of the document, materials or
other information.
(d) The sharing of documents, materials or other
information by the commissioner pursuant to this act 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 act.
(e) No waiver of any applicable privilege or claim of
confidentiality in the documents, materials or other information
shall occur as a result of disclosure of such information to the
commissioner under this section or as a result of any sharing
authorized by this act.
(f) Information that is disclosed in the CGAD which is
also contained in any public filing or is otherwise publicly
disclosed by the insurer shall not be considered privileged or
confidential.