§ 26-6-403 — Confidentiality

Wyoming § 26-6-403

• Jurisdiction: Wyoming
• Title 26: Insurance Code
• Ch. 6: ASSETS AND LIABILITIES

Text

(a) The statement of actuarial opinion required under W.S.
26-6-402 shall be provided with the annual statement in
accordance with National Association of Insurance Commissioners
property and casualty annual statement instructions and shall be
treated as a public document.
(b) Documents, materials or other information in the
possession or control of the department that are considered an
actuarial report, workpapers or actuarial opinion summary
provided in support of the opinion, and any other material
provided by the company to the commissioner in connection with
the actuarial report, workpapers or actuarial opinion summary,
shall be confidential by law and privileged, shall not be
subject to inspection 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.
This provision shall not be construed to limit the
commissioner's authority to release the documents to the
actuarial board for counseling and discipline established by the
American academy of actuaries so long as the material is
required for the purpose of professional disciplinary
proceedings and that the actuarial board for counseling and
discipline establishes procedures satisfactory to the
commissioner for preserving the confidentiality of the
documents. Nor shall this section be construed to limit the
commissioner's authority to use the documents, materials or
other information in furtherance of any regulatory or legal
action brought as part of the commissioner's official duties.
(c) Neither the commissioner nor any person who received
documents, materials or other information while acting under the
authority of the commissioner shall be permitted or required to
testify in any private civil action concerning any confidential
documents, materials or information subject to subsection (b) of
this section.
(d) In order to assist in the performance of the
commissioner's duties, the commissioner may:
(i) Share documents, materials or other information,
including the confidential and privileged documents, materials
or information subject to subsection (b) of this section with
other state, federal and international regulatory agencies, with
the National Association of Insurance Commissioners and its
affiliates and subsidiaries, and with state, federal and
international law enforcement authorities, provided that the
recipient agrees to maintain the confidentiality and privileged
status of the document, material or other information and has
the legal authority to maintain confidentiality;
(ii) Receive documents, materials or information,
including otherwise confidential and privileged documents,
materials or information, from the National Association of
Insurance Commissioners and its affiliates and subsidiaries, and
from regulatory and law enforcement officials of other foreign
or domestic jurisdictions, and shall maintain as confidential or
privileged any document, material or information received with
notice or the understanding that it is confidential or
privileged under the laws of the jurisdiction that is the source
of the document, material or information; and
(iii) Enter into agreements governing sharing and use
of information consistent with this section.
(e) 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
section or as a result of sharing as authorized in subsection
(d) of this section.