§ 31–336. NAIC and third-party consultants.

(a) The Commissioner may disclose information received pursuant to this chapter to the NAIC in reviewing the Corporate Governance Annual Disclosure and related information or in evaluating an insurer's compliance with this chapter.

(b)(1) The Commissioner may retain, at the insurer's expense, third-party consultants, including attorneys, actuaries, accountants, and other experts not otherwise a part of the Commissioner's staff, as may be reasonably necessary, to assist the Commissioner in reviewing the Corporate Governance Annual Disclosure and related information or in evaluating the insurer's compliance with this chapter.

(2) The Commissioner shall have the authority to enter into a written agreement with the NAIC or a third-party consultant governing the sharing and use of information provided pursuant to this chapter. The agreement shall comply with the standards set forth in § 31-4121.07(d)(2).

(3) A third-party consultant retained pursuant to this subsection shall serve under the direction and control of the Commissioner and shall act in an advisory capacity to the Commissioner.

(4) The NAIC, and third-party consultants retained pursuant to this subsection, shall be subject to the same confidentiality standards and requirements as the Commissioner.

(c) As part of the retention process, a third-party consultant shall verify to the Commissioner, with notice to the insurer, that it is free of a conflict of interest and has internal procedures in place to identify conflicts and monitor compliance with any measures taken to cure any conflicts and to comply with the confidentiality standards and requirements of this chapter.