KRS 304.3-635: ORSA Summary Report and other information confidential, privileged,

and exempt from Open Records Act and private civil action subpoena,

discovery, and testimony -- Powers of commissioner.

(1) Documents, materials, or other information, including t he ORSA Summary Report,

in the possession of or control of the department that are obtained by, created by, or

disclosed to the commissioner or any other person pursuant to KRS 304.3 -600 to

304.3-635 and 304.99-055, are recognized as being proprietary and containing trade

secrets. All documents, materials, or other information shall be confidential by law

and privileged, and shall not be subject to disclosure under the Kentucky Open

Records Act, KRS 61.872 to 61.884, and shall not be subject to subpoena,

discovery, or admission as evidence in any private civil action. However, the

commissioner is authorized to use the documents, materials, or other information in

the furtherance of any regulatory or legal action brought as a part of the

commissioner's offici al duties. The commissioner shall not otherwise make the

documents, materials, or other information public without the prior written consent

of the insurer.

(2) Neither the commissioner nor any person who received documents, materials, or

other ORSA -related information through examination or otherwise, while acting

under the authority of the commissioner or with whom such documents, materials,

or other information are shared pursuant to KRS 304.3 -600 to 304.3 -635 and

304.99-055, shall be permitted or requir ed to testify in any private civil action

concerning any confidential documents, materials, or information subject to

subsection (1) of this section.

(3) To assist in the performance of the commissioner's regulatory duties, the

commissioner:

(a) May share documents, materials, or information, upon request, subject to

subsection (1) of this section, including proprietary information or trade

secrets, with other state, federal, and international financial regulatory

agencies, including members of any supervis ory college, as defined in KRS

304.37-010, the NAIC, and 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;

(b) May receive documents, materials, or other ORSA -related information,

including 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 KRS 304.37 -010, and the

NAIC, and shall maintain as confidential o r privileged any documents,

materials, 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

(c) 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 section

that shall:

1. Specify procedures and protocols regarding the confidentiality and

security of information shared with the NAIC or a third-party consultant

pursuant to this section, 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 r ecipient 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. Specify that ownership of infor mation shared with the NAIC or a third -

party consultant pursuant to this section shall remain with the

commissioner, and that the NAIC's or third -party consultant's use of the

information is subject to the direction of the commissioner;

3. Prohibit the NAI C or third -party consultant from storing the shared

information pursuant to this section in a permanent database after the

analysis is completed;

4. Require prompt notice be given to an insurer whose confidential

information in the possession of the NAIC o r a third -party consultant

pursuant to this section is subject to a request or subpoena to the NAIC

or a third-party consultant for disclosure or production;

5. Require the NAIC or a third -party consultant to consent to intervention

by an insurer in any ju dicial or administrative action in which the NAIC

or a third -party consultant may be required to disclose confidential

information about the insurer that was shared with the NAIC or a third -

party consultant pursuant to this section; and

6. If an agreement involves a third -party consultant, provide for the

insurer's written consent.

(4) The sharing of information and documents by the commissioner pursuant to this

section shall not constitute a delegation of regulatory authority, and the

commissioner shall be solely responsible for the administration, execution, and

enforcement of the provisions of this section.

(5) 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 the ORSA -related information or documents to the

commissioner under this section or as a result of sharing as authorized in this

section.

(6) Documents, materials, or other information in the possession or control of the NAIC

or a third -party consultant pursuant to this section shall be confidential by law and

privileged, shall not be subject to the Kentucky Open Records Act, KRS 61.872 to

61.884, shall not be subject to subpoena, and shall not be subject to discovery or

admissible in evidence in any private civil action.