1. Except as otherwise provided in this section and NRS 239.0115, 681B.400 and 681B.420, an applicable company’s confidential information is confidential by law and privileged, and is not:
(a) Subject to subpoena or other forms of civil discovery; or
(b) Admissible in evidence in any private civil action.
2. Neither the Commissioner nor any person who received confidential information while acting under the authority of the Commissioner may be permitted or required to testify in any private civil action concerning the confidential information.
3. To assist in the performance of the Commissioner’s duties, the Commissioner may share confidential information with other state, federal and international regulatory agencies and the NAIC, provided that the recipient agrees, and has the legal authority to agree, to maintain the confidentiality and privileged status of such confidential information in the same manner and to the same extent as required of the Commissioner.
4. To assist in the performance of the Commissioner’s duties, the Commissioner may share confidential information specified in paragraphs (a) and (d) of subsection 1 of NRS 681B.400 with state, federal and international law enforcement officials or the Actuarial Board for Counseling and Discipline, or its successor, if the confidential information is provided for the purpose of professional disciplinary hearings and the recipient agrees, and has the legal authority to agree, to maintain the confidentiality and privileged status of such confidential information in the same manner and to the same extent as required of the Commissioner.
5. The Commissioner may receive documents, materials, data and other information, including, without limitation, confidential information and privileged documents, materials, data or other information from the NAIC, and its affiliates and subsidiaries, from regulatory or law enforcement officials of other foreign or domestic jurisdictions and from the Actuarial Board for Counseling and Discipline, or its successor, and shall maintain as confidential or privileged any document, material, data or other information received with notice, or the understanding, that the information is confidential or privileged under the laws of the jurisdiction which is the source of the document, material, data or other information.
6. The Commissioner may enter into agreements governing the sharing and use of confidential information consistent with this section.
7. No waiver of any applicable privilege or claim of confidentiality in confidential information shall occur as a result of the disclosure of the confidential information to the Commissioner pursuant to this section or as a result of sharing as authorized in subsections 3 and 4.
8. A privilege established under the law of any state or jurisdiction that is substantially similar to the privilege established under this section may be available and enforced in any proceeding in, and in any court of, this State.
9. Except as otherwise provided in NRS 681B.310, the provisions of this section apply only on or after the operative date of the Valuation Manual.
(Added to NRS by 2015, 3397)