{"data":{"id":"us-pa/40-pa.c.s.-3906","jurisdiction":"us-pa","citation":"40 Pa.C.S. § 3906","heading":"Third-party consultants.","body":"(a) Assistance with review.--The department may retain, at the insurer or insurance group's expense, third-party consultants, including attorneys, actuaries, accountants and other experts not otherwise a part of the department's staff as may be reasonably necessary to assist the department in reviewing the CGAD, CGAD-related information or the insurer's or insurance group's compliance with this chapter. Before retaining a third-party consultant, the department shall consider all of the following:\n(1) The complexity of the corporate governance structure of the insurer or insurance group.\n(2) Whether subject matter expertise to effectively review the report is available within the department.\n(b) Advisory capacity.--A person retained under subsection (a) shall be under the direction and control of the department and shall act in a purely advisory capacity.\n(c) Confidentiality.--Each third-party consultant shall be subject to the same confidentiality standards and requirements as the department.\n(d) Verification.--As part of the retention process, a third-party consultant shall verify to the department, with notice to the insurer or insurance group, that it:\n(1) is free of a conflict of interest;\n(2) will comply with the confidentiality standards and requirements of this chapter; and\n(3) has internal procedures in place to monitor compliance with this section.\n(e) Written consent.--A retention agreement with a third-party consultant shall expressly require the written consent of the insurer or insurance group prior to making information provided under this chapter public.","path":["Title 40 - INSURANCE","PART II REGULATION OF INSURERS AND RELATED PERSONS GENERALLY","CHAPTER 39 CORPORATE GOVERNANCE ANNUAL DISCLOSURE"],"source_url":"https://www.palegis.us/statutes/consolidated/view-statute?txtType=HTM\u0026ttl=40\u0026div=0\u0026chpt=39\u0026sctn=6\u0026subsctn=0","current_through":"2024-08-21 (Statute Update stamp, 40 Pa.C.S.)","vintage":"","retrieved_at":"2026-09-02T16:33:08Z","sha256":"d760cec8ab222079c80ff88d344955b19a7ef6568673cec9260c8beb7c4ebde9","source_id":"us-pa","stale":false,"prev":"us-pa/40-pa.c.s.-3905","next":"us-pa/40-pa.c.s.-3907"},"notice":"GroundRules: Original legal text. Not legal advice."}