§691.38. Confidentiality
A. Documents, materials, or other information, including the ORSA summary report,
in the possession or control of the commissioner that are obtained by, created by, or disclosed
to the commissioner or any other person pursuant to this Subpart are proprietary and contain
trade secrets. All such documents, materials, or other information shall be confidential and
privileged, shall not be subject to disclosure under the Public Records Law, shall not be
subject to subpoena, and shall not be subject to discovery or admissible in evidence in any
private civil action. However, the commissioner may 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.
B. Neither the commissioner nor any person who receives documents, materials, or
other ORSA-related information, through examination or otherwise, while acting pursuant
to the authority of the commissioner or with whom such documents, materials, or other
information are shared pursuant to this Subpart 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. In order to assist in the performance of the commissioner's regulatory duties, the
commissioner:
(1) May, upon request, share documents, materials, or other ORSA-related
information, including the confidential and privileged documents, materials, or information
subject to Subsection A of this Section, including proprietary and trade secret documents and
materials, with other state, federal, and international financial regulatory agencies, including
members of any supervisory college as defined in R.S. 22:691.9, with the NAIC, and with
any third-party consultants designated by the commissioner, provided that the recipient
agrees in writing to maintain the confidentiality and privileged status of the ORSA-related
documents, materials, or other information and has verified in writing the legal authority to
maintain confidentiality.
(2) May receive documents, materials, or other ORSA-related information, including
otherwise confidential and privileged documents, materials, or information, including
proprietary and trade-secret information or documents, from regulatory officials of other
foreign or domestic jurisdictions, including members of any supervisory college as defined
in R.S. 22:691.9, and from the NAIC, and shall maintain as confidential or privileged any
documents, materials, or information received with notice or the understanding that it is
confidential or privileged pursuant to the laws of the jurisdiction that is the source of the
document, material, or information.
(3) Shall enter into a written agreement with the NAIC or a third-party consultant
governing the sharing and use of information provided pursuant to this Subpart, consistent
with this Subsection that shall include all of the following:
(a) Specify procedures and protocols regarding the confidentiality and security of
information shared with the NAIC or a third-party consultant pursuant to this Subpart,
including procedures and protocols for sharing by the NAIC with other state regulators from
states in which the insurance group has domiciled insurers. The agreement shall provide that
the recipient agrees in writing to maintain the confidentiality and privileged status of the
ORSA-related documents, materials, or other information and has verified in writing the
legal authority to maintain confidentiality.
(b) Specify that ownership of information shared with the NAIC or a third-party
consultant pursuant to this Subpart remains with the commissioner and the NAIC's or a
third-party consultant's use of the information is subject to the direction of the commissioner.
(c) Prohibit the NAIC or third-party consultant from storing the information shared
pursuant to this Subpart in a permanent database after the underlying analysis is complete.
(d) Require prompt notice be given to an insurer whose confidential information in
the possession of the NAIC or a third-party consultant pursuant to this Subpart is subject to
a request or subpoena to the NAIC or a third-party consultant for disclosure or production.
(e) Require the NAIC or a third-party consultant to consent to intervention by an
insurer in any judicial or administrative action in which the NAIC or a third-party consultant
may be required to disclose confidential information about the insurer shared with the NAIC
or a third-party consultant pursuant to this Subpart.
(f) Provide for the insurer's written consent in the case of an agreement involving a
third-party consultant.
D. The sharing of information and documents by the commissioner pursuant to this
Subpart 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 Subpart.
E. No waiver of any applicable privilege or claim of confidentiality in the
documents, proprietary and trade-secret materials, or other ORSA-related information shall
occur as a result of disclosure of such ORSA-related information or documents to the
commissioner pursuant to this Section or as a result of sharing as authorized in this Subpart.
F. Documents, materials, or other information in the possession or control of the
NAIC or third-party consultants pursuant to this Subpart shall be confidential and privileged,
shall not be subject to disclosure pursuant to the Public Records Law, shall not be subject to
subpoena, and shall not be subject to discovery or admissible in evidence in any private civil
action.
Acts 2015, No. 196, §1, eff. Jan. 1, 2016.