{"data":{"id":"us-ky/krs-304.6-132","jurisdiction":"us-ky","citation":"KRS 304.6-132","heading":"Treatment of confidential information.","body":"(1) For purposes of this section:\n(a) \"Confidential information\" means:\n1. A memorandum in support of an opinion, submitted pursuant to KRS\n304.6-171, and any other documents, materials, and other information,\nincluding but not limited to all working papers an d copies created,\nproduced, obtained by, or disclosed to the commissioner or any other\nperson in connection with the memorandum;\n2. All documents, materials, and other information, including but not\nlimited to all working papers and copies created, produce d, obtained by,\nor disclosed to the commissioner or any other person in the course of an\nexamination made under KRS 304.6 -143(6); except that if an\nexamination report or other material prepared in connection with an\nexamination made under KRS 304.2 -250 is not held as private and\nconfidential, an examination report or other material prepared in\nconnection with an examination under KRS 304.6 -143(6) shall not be\nconfidential information to the same extent as if the examination report\nor other material had been prepared under KRS 304.2-250;\n3. Any reports, documents, materials, and other information developed by\na company in support of, or in connection with an annual certification by\nthe company under KRS 304.6-151(2)(b) evaluating the effectiveness of\nthe comp any's internal controls with respect to a principle -based\nvaluation and any other documents, materials, and other information,\nincluding but not limited to all working papers and copies created,\nproduced, obtained by, or disclosed to the commissioner or an y other\nperson in connection with reports, documents, materials, and other\ninformation;\n4. Any principle -based valuation report developed under KRS 304.6 -\n151(2)(c) and any other documents, materials, and other information,\nincluding but not limited to all working papers and copies created,\nproduced, obtained by, or disclosed to the commissioner or any other\nperson in connection with the report; and\n5. Any documents, materials, data and other information submitted by a\ncompany under KRS 304.6 -133, collective ly referred to as experience\ndata, and any other documents, materials, data, and other information,\nincluding but not limited to all working papers and copies created or\nproduced in connection with the experience data, in each case that\nincludes any potent ial company -identifying or personal identifiable\ninformation that is provided to or obtained by the commissioner, with\nany experience data referred to as the experience materials, and any\nother documents, materials, data, and other information, including b ut\nnot limited to all working papers and copies created, produced, obtained\nby, or disclosed to the commissioner or any other person in connection\nwith the experience materials; and\n(b) \"Regulatory agency,\" \"law enforcement agency,\" and \"NAIC\" include, but are\nnot limited to their employees, agents, or consultants.\n(2) (a) Except as provided in this section, a company's confidential information:\n1. Shall be confidential by law and privileged; and\n2. Shall not be subject to:\na. The Kentucky Open Records Act, KRS 61.872 to 61.884;\nb. Subpoena;\nc. Discovery; or\nd. Admission in evidence in any private civil action, except that the\ncommissioner is authorized to use the confidential information in\nthe furtherance of any regulatory or legal action brought against\nthe company as part of the commissioner's official duties.\n(b) Neither the commissioner nor any person who received confidential\ninformation, while acting under the authority of the commissioner, shall be\npermitted or required to testify in any private civil action concerning any\nconfidential information.\n(c) In order to assist in the performance of the commissioner's duties, the\ncommissioner may share confidential information if the recipient agrees, and\nhas the legal authority  to agree, to maintain the confidentiality and privileged\nstatus of the documents, materials, data, and other information in the same\nmanner and to the same extent as required for the commissioner with:\n1. Other state, federal, and international regulatory  agencies and with the\nNAIC and its affiliates and subsidiaries; and\n2. In the case of confidential information, defined in subsection (1)(a)1.\nand 4. of this section, the Actuarial Board for Counseling and Discipline\nor its successor upon request stating that the confidential information is\nrequired for the purpose of professional disciplinary proceedings and\nwith state, federal, and international law enforcement officials.\n(d) The commissioner may receive documents, materials, data, and other\ninformation, including otherwise confidential and privileged documents,\nmaterials, data, and other information from the NAIC and its affiliates and\nsubsidiaries, from regulatory or law enforcement officials of other foreign or\ndomestic jurisdictions, and from the Actu arial Board for Counseling and\nDiscipline, or its successor, and shall maintain as confidential or privileged\nany documents, materials, data, or other information received with notice or\nthe understanding that it is confidential or privileged under the law s of the\njurisdiction that is the source of the document, material, or other information.\n(e) The commissioner may enter into agreements governing sharing and use of\ninformation consistent with this subsection.\n(f) No waiver of any applicable privilege or claim of confidentiality of\nconfidential information shall occur as a result of disclosure to the\ncommissioner under this section, or as a result of sharing the information as\nauthorized by paragraph (c) of this subsection.\n(g) A privilege established unde r the law of any state or jurisdiction that is\nsubstantially similar to the privilege established under this subsection shall be\navailable and enforced in any proceeding and in any court of this state.\n(3) (a) Notwithstanding subsection (2) of this section , any confidential information\nspecified in subsection (1)(a)1. and 4. of this section:\n1. May be subject to subpoena for the purpose of defending an action\nseeking damages from the appointed actuary submitting the related\nmemorandum in support of an opini on submitted under KRS 304.6-171,\nor the principle -based valuation report developed under KRS 304.6 -\n151(2)(c), by reason of an action required by KRS 304.6 -130 to 304.6 -\n180, or by administrative regulation.\n2. May otherwise be released by the commissioner with the written consent\nof the company; and\n(b) All portions of a memorandum or report shall no longer be confidential if any\nportion of a memorandum in support of an opinion, submitted under KRS\n304.6-171, or a principle-based valuation report, developed under KRS 304.6-\n151(2)(c), is cited by the company in its marketing, is publicly volunteered to\nor before a governmental agency, other than a state insurance department, or is\nreleased by the company to the news media.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=44432","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:38Z","sha256":"d6d504539776b2eb77b86e7bc3f3770982e14fb6ab78a4a6df2813cb08db279b","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.6-131","next":"us-ky/krs-304.6-133"},"notice":"GroundRules: Original legal text. Not legal advice."}