(a) The Statement of Actuarial Opinion must be provided with the Annual Statement in accordance with the appropriate NAIC Property and Casualty Annual Statement Instructions and must be treated as a public document.
(b)
(1) Documents, materials or other information in the possession or control of the Division of Banking, Insurance and Financial Regulation that are considered an Actuarial Report, work papers, 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, work papers or Actuarial Opinion Summary, are confidential and privileged, are not subject to examination by the public, are not subject to subpoena, and are not subject to discovery or admissible in evidence in any private civil action.
(2) Paragraph (1) of this subsection may not be construed to limit the Commissioner’s authority to release the documents to the Actuarial Board for Counseling and Discipline, 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 may this subsection 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 may be permitted or compelled 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:
(1) share documents, materials or other information, including the confidential and privileged documents, materials, or other information subject to section 1058(b) with other state, federal and international regulatory agencies, with the NAIC and its affiliates and subsidiaries, and with territorial, state, federal and international law enforcement authorities, if 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;
(2) receive documents, materials or information, including otherwise confidential and privileged documents, materials or information, from the NAIC 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
(3) enter into agreements governing sharing and use of information consistent with this section.
(e) No applicable privilege or claim of confidentiality in the documents, materials or information is waived because of disclosure to the Commissioner under this section or as a result of sharing as authorized in (d) of this section.