Confidentiality; permissible disclosures.

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(a) A memorandum in support of an opinion submitted under ORS 733.304 or 733.331 and any other documents, materials and other information including, but not limited to, all working papers and copies of working papers that are created, produced or obtained by or disclosed to the Director of the Department of Consumer and Business Services or any other person in connection with the memorandum.

(b) All documents, materials and other information including, but not limited to, all working papers and copies of working papers that are created, produced or obtained by or disclosed to the director or any other person in the course of an examination under section 15, chapter 547, Oregon Laws 2015, except that if an examination report or other material that is prepared in connection with an examination under ORS 731.312 is not held as private and confidential information under ORS 731.312, an examination report or other material that is prepared in connection with an examination under section 15 (3), chapter 547, Oregon Laws 2015, is confidential information to the same extent as the examination report or other material that was prepared under ORS 731.312.

(c) Any reports, documents, materials or other information that an insurer develops in support of, or in connection with, the annual certification the insurer submits under section 17 (3)(b), chapter 547, Oregon Laws 2015, to evaluate the effectiveness of the insurer’s internal controls with respect to a principle-based valuation and any other documents, materials and other information including, but not limited to, all working papers and copies of working papers that are created, produced or obtained by or disclosed to the director or any other person in connection with the reports, documents, materials and other information.

(d) Any principle-based valuation report developed under section 17 (3)(c), chapter 547, Oregon Laws 2015, and any other documents, materials and other information including, but not limited to, all working papers and copies of working papers that are created, produced or obtained by or disclosed to the director or any other person in connection with the report.

(e) Any documents, materials, data and other information that an insurer submits under ORS 733.334 and any other documents, materials, data and other information including, but not limited to, all working papers and copies of working papers that are created or produced in connection with the materials, data and other information, to the extent that the documents, materials, data, information and working papers include information that identifies the insurer or could be used to identify a particular person, if the documents, materials data or other information and the working papers are provided to or obtained by or disclosed to the director or any other person in connection or compliance with the provision of ORS 733.334.

(2)(a) Except as provided in this section, an insurer’s confidential information is confidential by law and privileged as provided in ORS 705.137, 705.138 and 705.139, and is not subject to ORS 192.311 to 192.478.

(b) The director may share confidential information of the type defined in subsection (1)(a) or (d) of this section with state, federal and international law enforcement officials and with the Actuarial Board for Counseling and Discipline or a successor to the Actuarial Board for Counseling and Discipline, including the employees, agents, consultants and contractors of the board or law enforcement agency, if:

(A) The director receives a request that states that the confidential information is necessary for the purpose of professional disciplinary proceedings; and

(B) The person from which the director receives the request has the legal authority to agree, and does agree, to maintain the confidentiality of and provide a privilege for the documents, materials, data and other information in the same manner and to the same extent that the director must maintain the confidentiality of and privilege provided for the documents, materials, data and other information under this section.

(c) The director may receive documents, materials, data and other information, including otherwise confidential and privileged documents, materials, data or information, from the Actuarial Board for Counseling and Discipline or a successor to the Actuarial Board for Counseling and Discipline and shall maintain the confidentiality of and provide a privilege for any document, material, data or other information the director receives with the understanding that the document, material or other information is confidential or privileged under the laws of the jurisdiction that is the source of the document, material or other information.

(3) Notwithstanding subsection (2) of this section:

(a) The director may release confidential information of the type defined in subsection (1)(a) or (d) of this section:

(A) In response to a subpoena for the purpose of defending an action that seeks damages from the appointed actuary who prepares a memorandum in support of an opinion that an insurer submits under ORS 733.304 or 733.331, or a principle-based valuation report that the insurer developed under section 17, chapter 547, Oregon Laws 2015, if the confidential information is subject to subpoena under an action required under ORS 733.300 to 733.340 and sections 14 to 17, chapter 547, Oregon Laws 2015, or under a rule the director adopts under ORS 733.300 to 733.340 and sections 14 to 17, chapter 547, Oregon Laws 2015; or

(B) With the written consent of the insurer.

(b) Confidential information of the type defined in subsection (1)(a) or (d) of this section is no longer confidential if an insurer cites in the insurer’s marketing, volunteers publicly to or before a government agency other than the Department of Consumer and Business Services or an equivalent agency in another state or the employees, agents, consultants or contractors of the department or agency, or releases to the news media any portion of a memorandum in support of an opinion the insurer submitted under ORS 733.331 or a principle-based valuation report the insurer developed under section 17, chapter 547, Oregon Laws 2015. [2015 c.547 §19]


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