§ 522.8

522.8 Confidentiality. 1. Documents, materials, or other information, including an own risk and solvency assessment summary report, in the possession or control of the insurance division of thedepartment of insurance and financial services, that are obtained by, created by, or disclosedto the commissioner or to any other person pursuant to this chapter, are recognized in thisstate as being proprietary and containing trade secrets. All such documents, materials, orother information, including the summary report, shall be confidential and privileged, shallnot be subject to chapter 22, shall not be subject to subpoena, and shall not be subject todiscovery or admissible in evidence in any private civil action. However, the commissioneris authorized to use such documents, materials, or other information, including thesummary report, in the furtherance of any regulatory or legal action brought as a part of thecommissioner’s official duties. The commissioner shall not otherwise make the documents,materials, or other information, including the summary report, public without the priorwritten consent of the insurer that provided the documents, materials, or other information,including the

uments,materials, or other information, including the summary report, public without the priorwritten consent of the insurer that provided the documents, materials, or other information,including the summary report. 2. The commissioner or any person who received documents, materials, or other information related to own risk and solvency assessments, through examination orotherwise, while acting under the authority of the commissioner or with whom suchdocuments, materials, or other information are shared pursuant to this chapter, shall notbe permitted or required to testify in any private civil action concerning any confidentialdocuments, materials, or information, including summary reports, subject to subsection 1. 3. In order to assist in the performance of the commissioner’s regulatory duties, the commissioner may do any of the following: a. Upon request, share documents, materials, or other own risk and solvency assessment-related information, including the confidential and privileged documents,materials, or information subject to subsection 1, and including proprietary and trade secretdocuments, materials, or information, with other state, federal, or international

and privileged documents,materials, or information subject to subsection 1, and including proprietary and trade secretdocuments, materials, or information, with other state, federal, or international financialregulatory agencies, including members of any supervisory college, with the nationalassociation of insurance commissioners, and with any third-party consultants designated bythe commissioner, provided that the recipient agrees in writing to maintain the confidentialityand privileged status of the documents, materials, or other assessment-related informationand verifies in writing the legal authority to maintain such confidentiality and privilege. b. Receive documents, materials, or other own risk and solvency assessment-related information, including otherwise confidential and privileged documents, materials, orinformation, and proprietary and trade secret documents, materials, and information, fromregulatory officials of other foreign or domestic jurisdictions, including members of anysupervisory college, and from the national association of insurance commissioners, and shallmaintain as confidential or privileged any documents, materials, or information receivedwith notice

s of anysupervisory college, and from the national association of insurance commissioners, and shallmaintain as confidential or privileged any documents, materials, or information receivedwith notice or the understanding that the documents, materials, or other informationreceived are confidential and privileged under the laws of the jurisdiction that is the sourceof the documents, materials, or information. 4. In order to assist in the performance of the commissioner’s regulatory duties, the commissioner shall enter into a written agreement with the national association ofinsurance commissioners or with a third-party consultant that is consistent with subsection3, governing the sharing and use of information provided pursuant to this chapter, and thatdoes all of the following: a. Specifies procedures and protocols regarding the confidentiality and security of information shared with the national association of insurance commissioners or with athird-party consultant pursuant to this chapter, including procedures and protocols of thenational association of insurance commissioners for sharing information with other stateregulators from states in which an insurance group has domiciled

pter, including procedures and protocols of thenational association of insurance commissioners for sharing information with other stateregulators from states in which an insurance group has domiciled insurers. The agreementshall require that the recipient of such information must agree in writing to maintainthe confidentiality and privileged status of the own risk and solvency assessment-relateddocuments, materials, or other information and verify in writing the legal authority tomaintain confidentiality and privilege. Sat Dec 23 00:53:53 2023 Iowa Code 2024, Section 522.8 (15, 1) §522.8, INSURER RISK AND SOLVENCY ASSESSMENTS 2 b. Specifies that ownership of information shared with the national association of insurance commissioners or with a third-party consultant pursuant to this chapter remainswith the commissioner and that use of the information by the national association ofinsurance commissioners or by a third-party consultant is subject to the direction of thecommissioner. c. Prohibits the national association of insurance commissioners or a third-party consultant from storing the information shared pursuant to this chapter in a permanentdatabase after the underlying

. c. Prohibits the national association of insurance commissioners or a third-party consultant from storing the information shared pursuant to this chapter in a permanentdatabase after the underlying analysis is completed. d. Requires that prompt notice be given to an insurer whose confidential information is in the possession of the national association of insurance commissioners or a third-partyconsultant pursuant to this chapter, that the information is subject to a request or subpoenato the national association of insurance commissioners or the third-party consultant fordisclosure or production. e. Requires the national association of insurance commissioners or a third-party consultant to consent to intervention by an insurer in any judicial or administrative actionin which the national association of insurance commissioners or the third-party consultantmay be required to disclose confidential information about the insurer that was shared withthe association or consultant pursuant to this chapter. f. In the case of an agreement involving a third-party consultant, provides for the insurer’s written consent to the agreement. 5.

s shared withthe association or consultant pursuant to this chapter. f. In the case of an agreement involving a third-party consultant, provides for the insurer’s written consent to the agreement. 5. The sharing of documents, materials, or information by the commissioner pursuant to this chapter shall not constitute a delegation of regulatory authority or rulemaking, and thecommissioner is solely responsible for the administration, execution, and enforcement of theprovisions of this chapter. 6. No waiver of any applicable privilege or claim of confidentiality in the documents, proprietary and trade secret materials, or other own risk and solvency assessment-relatedinformation shall occur as a result of the disclosure of such documents, materials, orinformation to the commissioner under this section or as a result of the sharing of thosedocuments, materials, or information as authorized in this chapter. 7. Documents, materials, or other information in the possession or control of the national association of insurance commissioners or a third-party consultant pursuant to this chaptershall be confidential and privileged, shall not be subject to chapter 22, shall not be subject

the national association of insurance commissioners or a third-party consultant pursuant to this chaptershall be confidential and privileged, shall not be subject to chapter 22, shall not be subject tosubpoena, and shall not be subject to discovery or admissible in evidence in any private civilaction. 2013 Acts, ch 40, §8, 11; 2023 Acts, ch 19, §2737Subsection 1 amended Sat Dec 23 00:53:53 2023 Iowa Code 2024, Section 522.8 (15, 1)