(a)
(1) An individual may execute, acknowledge, and file in the State Insurance Department a statement expressly waiving immunity or privilege for any transaction, matter, or thing specified in the statement.
(2) If a statement is filed under subdivision (a)(1) of this section, the testimony of the person or the evidence in relation to the transaction, matter, or thing may be received or produced before any judge or justice, court, tribunal, grand jury, or otherwise.
(b) If testimony or evidence is received or produced under subdivision (a)(2) of this section, the individual is not entitled to any immunity or privilege on account of any testimony he or she may give or evidence produced.