{"data":{"id":"us-ky/krs-304.3-635","jurisdiction":"us-ky","citation":"KRS 304.3-635","heading":"ORSA Summary Report and other information confidential, privileged,","body":"and exempt from Open Records Act and private civil action subpoena,\ndiscovery, and testimony -- Powers of commissioner.\n(1) Documents, materials, or other information, including t he ORSA Summary Report,\nin the possession of or control of the department that are obtained by, created by, or\ndisclosed to the commissioner or any other person pursuant to KRS 304.3 -600 to\n304.3-635 and 304.99-055, are recognized as being proprietary and containing trade\nsecrets. All documents, materials, or other information shall be confidential by law\nand privileged, and shall not be subject to disclosure under the Kentucky Open\nRecords Act, KRS 61.872 to 61.884, and shall not be subject to subpoena,\ndiscovery, or admission as evidence in any private civil action. However, the\ncommissioner is authorized to use the documents, materials, or other information in\nthe furtherance of any regulatory or legal action brought as a part of the\ncommissioner's offici al duties. The commissioner shall not otherwise make the\ndocuments, materials, or other information public without the prior written consent\nof the insurer.\n(2) Neither the commissioner nor any person who received documents, materials, or\nother ORSA -related information through examination or otherwise, while acting\nunder the authority of the commissioner or with whom such documents, materials,\nor other information are shared pursuant to KRS 304.3 -600 to 304.3 -635 and\n304.99-055, shall be permitted or requir ed to testify in any private civil action\nconcerning any confidential documents, materials, or information subject to\nsubsection (1) of this section.\n(3) To assist in the performance of the commissioner's regulatory duties, the\ncommissioner:\n(a) May share documents, materials, or information, upon request, subject to\nsubsection (1) of this section, including proprietary information or trade\nsecrets, with other state, federal, and international financial regulatory\nagencies, including members of any supervis ory college, as defined in KRS\n304.37-010, the NAIC, and any third -party consultants designated by the\ncommissioner, provided that the recipient agrees in writing to maintain the\nconfidentiality and privileged status of the ORSA -related documents,\nmaterials, or other information, and has verified in writing the legal authority\nto maintain confidentiality;\n(b) May receive documents, materials, or other ORSA -related information,\nincluding confidential and privileged documents, materials, or information\nincluding proprietary and trade -secret information or documents, from\nregulatory officials of other foreign or domestic jurisdictions, including\nmembers of any supervisory college, as defined in KRS 304.37 -010, and the\nNAIC, and shall maintain as confidential o r privileged any documents,\nmaterials, or information received with notice or the understanding that it is\nconfidential or privileged under the laws of the jurisdiction that is the source\nof the document, material, or information; and\n(c) Shall enter into a written agreement with the NAIC or a third -party consultant\ngoverning the sharing and use of information provided pursuant to this section\nthat shall:\n1. Specify procedures and protocols regarding the confidentiality and\nsecurity of information shared with the NAIC or a third-party consultant\npursuant to this section, including procedures and protocols for sharing\nby the NAIC with other state regulators from states in which the\ninsurance group has domiciled insurers. The agreement shall provide\nthat the r ecipient agrees in writing to maintain the confidentiality and\nprivileged status of the ORSA -related documents, materials, or other\ninformation, and has verified in writing the legal authority to maintain\nconfidentiality;\n2. Specify that ownership of infor mation shared with the NAIC or a third -\nparty consultant pursuant to this section shall remain with the\ncommissioner, and that the NAIC's or third -party consultant's use of the\ninformation is subject to the direction of the commissioner;\n3. Prohibit the NAI C or third -party consultant from storing the shared\ninformation pursuant to this section in a permanent database after the\nanalysis is completed;\n4. Require prompt notice be given to an insurer whose confidential\ninformation in the possession of the NAIC o r a third -party consultant\npursuant to this section is subject to a request or subpoena to the NAIC\nor a third-party consultant for disclosure or production;\n5. Require the NAIC or a third -party consultant to consent to intervention\nby an insurer in any ju dicial or administrative action in which the NAIC\nor a third -party consultant may be required to disclose confidential\ninformation about the insurer that was shared with the NAIC or a third -\nparty consultant pursuant to this section; and\n6. If an agreement involves a third -party consultant, provide for the\ninsurer's written consent.\n(4) The sharing of information and documents by the commissioner pursuant to this\nsection shall not constitute a delegation of regulatory authority, and the\ncommissioner shall be solely responsible for the administration, execution, and\nenforcement of the provisions of this section.\n(5) No waiver of any applicable privilege or claim of confidentiality in the documents,\nproprietary and trade -secret materials, or other ORSA -related information shall\noccur as a result of disclosure of the ORSA -related information or documents to the\ncommissioner under this section or as a result of sharing as authorized in this\nsection.\n(6) Documents, materials, or other information in the possession or control of the NAIC\nor a third -party consultant pursuant to this section shall be confidential by law and\nprivileged, shall not be subject to the Kentucky Open Records Act, KRS 61.872 to\n61.884, shall not be subject to subpoena, and shall not be subject to discovery or\nadmissible in evidence in any private civil action.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=43955","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:38Z","sha256":"f5f40591961b7b56cadc0f08cfa928807fa3c26a67ea721b594a7e37bc9ce67f","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.3-630","next":"us-ky/krs-304.3-700"},"notice":"GroundRules: Original legal text. Not legal advice."}