§ 26-54-107 — NAIC and third party consultants

(a) The commissioner may retain, at the insurer's expense,
third party consultants, including attorneys, actuaries,
accountants and other experts not otherwise a part of the
commissioner's staff, as may be reasonably necessary to assist
the commissioner in reviewing the CGAD and related information
submitted by an insurer or to determine an insurer’s compliance
with this act.
(b) Any consultant retained under subsection (a) of this
section shall act only as an independent contractor within the
scope of duties established by the commissioner.
(c) The National Association of Insurance Commissioners
and any person retained pursuant to subsection (a) of this
section shall be subject to the same confidentiality standards
and requirements as the commissioner.
(d) A third party consultant retained pursuant to
subsection (a) of this section shall verify to the commissioner,
with notice to the insurer, that he is free of a conflict of
interest and that, if applicable, the consultant's firm has
internal procedures in place to monitor compliance with a
conflict and to comply with the confidentiality standards and
requirements of this act.
(e) The commissioner shall enter into a written agreement
with the National Association of Insurance Commissioners and any
person retained pursuant to subsection (a) of this section
concerning the sharing and use of information provided under
this act. Consistent with W.S. 26-2-113, the agreement shall
contain the following provisions and expressly require the
written consent of the insurer prior to making public any
information provided under this act:
(i) Specific procedures and protocols for maintaining
the confidentiality and security of CGAD related information
shared with the National Association of Insurance Commissioners
or any person retained pursuant to subsection (a) of this
section;
(ii) Procedures and protocols for the National
Association of Insurance Commissioners, or other persons
retained pursuant to subsection (a) of this section, to disclose
CGAD related information to other state regulators from states
in which an insurance group has domiciled insurers. The
agreement shall provide that the recipient agrees in writing to
maintain the confidentiality and privileged status of the CGAD
related documents, materials or other information and has
verified in writing the legal authority to maintain
confidentiality;
(iii) A provision specifying that ownership of CGAD
related information shared with the National Association of
Insurance Commissioners or a person retained pursuant to
subsection (a) of this section remains with the department and
use of the information by the National Association of Insurance
Commissioners or a person retained pursuant to subsection (a) of
this section is subject to the direction of the commissioner;
(iv) A provision that prohibits the National
Association of Insurance Commissioners or any person retained
pursuant to subsection (a) of this section from storing the
information shared pursuant to this act in a permanent database
after the underlying analysis is completed;
(v) A provision requiring the National Association of
Insurance Commissioners or any person retained pursuant to
subsection (a) of this section to provide prompt notice to the
commissioner and to the insurer or insurance group upon the
receipt of any subpoena, request for disclosure, or request for
production of the insurer's or insurance group’s CGAD related
information; and
(vi) A requirement that the National Association of
Insurance Commissioners or any person retained pursuant to
subsection (a) of this section shall consent to intervention by
an insurer in any judicial or administrative action in which the
National Association of Insurance Commissioners or the person
retained pursuant to subsection (a) of this section may be
required to disclose confidential information about the insurer
shared with the National Association of Insurance Commissioners
or a person retained pursuant to subsection (a) of this section.