{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-1539","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-1539","heading":"Third-party consultants to assist the Commissioner in","body":"reviewing documents.\n\nA. The Insurance Commissioner may retain, at the insurer's\n\nexpense, third-party consultants, including attorneys, actuaries,\n\naccountants and other experts not otherwise a part of the\n\nCommissioner's staff as may be reasonably necessary to assist the\n\nCommissioner in reviewing the Corporate Governance Annual Disclosure\n\n(CGAD) and related information or the insurer's compliance with this\n\nact.\n\nB. Any persons retained under subsection A of this section\n\nshall be under the direction and control of the Commissioner and\n\nshall act in a purely advisory capacity.\n\nC. The National Association of Insurance Commissioners (NAIC)\n\nand third-party consultants shall be subject to the same\n\nconfidentiality standards and requirements as the Commissioner.\n\nD. As part of the retention process, a third-party consultant\n\nshall verify to the Commissioner, with notice to the insurer, that\n\nit is free of a conflict of interest and that it has internal\n\nprocedures in place to monitor compliance with a conflict and to\n\ncomply with the confidentiality standards and requirements of this\n\nact.\n\nE. A written agreement with the NAIC and/or a third-party\n\nconsultant governing sharing and use of information provided\n\npursuant to this act shall contain the following provisions and\n\nexpressly require the written consent of the insurer prior to making\n\npublic information provided under this act:\n\n1. Specific procedures and protocols for maintaining the\n\nconfidentiality and security of CGAD-related information shared with\n\nthe NAIC or a third-party consultant pursuant to this act;\n\n2. Procedures and protocols for sharing by the NAIC only with\n\nother state regulators from states in which the insurance group has\n\ndomiciled insurers. The agreement shall provide that the recipient\n\nagrees in writing to maintain the confidentiality and privileged\n\nstatus of the CGAD-related documents, materials or other information\n\nand has verified in writing the legal authority to maintain\n\nconfidentiality;\n\n3. A provision specifying that ownership of the CGAD-related\n\ninformation shared with the NAIC or a third-party consultant remains\n\nwith the Department of Insurance and the NAIC's or third-party\n\nconsultant's use of the information is subject to the direction of\n\nthe Commissioner;\n\n4. A provision that prohibits the NAIC or a third-party\n\nconsultant from storing the information shared pursuant to this act\n\nin a permanent database after the underlying analysis is completed;\n\n5. A provision requiring the NAIC or third-party consultant to\n\nprovide prompt notice to the Commissioner and to the insurer or\n\ninsurance group regarding any subpoena, request for disclosure, or\n\nrequest for production of the insurer's CGAD-related information;\n\nand\n\n6. A requirement that the NAIC or a third-party consultant\n\nconsents to intervention by an insurer in any judicial or\n\nadministrative action in which the NAIC or a third-party consultant\n\nmay be required to disclose confidential information about the\n\ninsurer shared with the NAIC or a third-party consultant pursuant to\n\nthis act.","path":["OK Code","Title 36"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os36.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"6ef1ebe8bd8b438fba2cff83bd2e7db925e119358733b07f9f43934027829e13","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-1538","next":"us-ok/okla.-stat.-tit.-36-36-1540"},"notice":"GroundRules: Original legal text. Not legal advice."}