A. All regulatory or financial analyses, ratios and examination synopses concerning insurance companies or insurance transactions that are submitted to the Commission by the National Association of Insurance Commissioners (NAIC), including information generated by any NAIC databases developed for use by regulators, shall be given confidential treatment, are not subject to subpoena, and may not be made public by the Commission or any other person.
B. Financial analyses and test ratios generated by the Commission, pursuant to the NAIC's Insurance Regulatory Information System (IRIS) or Financial Analysis and Solvency Tracking (FAST) System, any successor program, or any similar program developed by the Commission, shall be given confidential treatment, are not subject to subpoena, and may not be made public by the Commission or any other person.
C. All working papers, recorded information, documents and copies thereof produced by, obtained by, or disclosed to the Commission or any other person pursuant to this article shall be given confidential treatment, are not subject to subpoena, and may not be made public by the Commission or any other person, except to the extent provided in § 38.2-1306.
D. Notwithstanding other provisions to the contrary, nothing contained in this chapter shall prevent or be construed as prohibiting the Commission from disclosing otherwise confidential information, administrative or judicial orders, or the content of any analysis or any matter related thereto, at any time to (i) a regulatory official of any state or country; (ii) the NAIC, its affiliate or its subsidiary; or (iii) a law-enforcement authority of any state or country, provided that those officials are required under their law to maintain its confidentiality. Any such disclosure by the Commission shall not constitute a waiver of confidentiality of any such documents or information. Any parties receiving such papers shall agree in writing prior to receiving the information to provide it the same confidential treatment as required by this section, unless the prior written consent of the company to which it pertains has been obtained.
E. Documents or information received from the insurance regulatory officials of any state or country which are confidential in those jurisdictions are not open to public inspection and shall receive confidential treatment by the Commission.
1987, c. 691; 1994, c. 308; 1996, c. 32; 2001, c. 519; 2007, c. 488.
Structure Code of Virginia
§ 38.2-1300. Annual statements
§ 38.2-1301. Additional reports
§ 38.2-1301.1. Material transaction disclosures
§ 38.2-1302. Extension of filing time
§ 38.2-1303. Printed forms to be filed by insurers; certificates to domestic insurers
§ 38.2-1304. False statements, reports, etc., deemed a Class 5 felony
§ 38.2-1305. Voluntary reports
§ 38.2-1306. Reports to be open to public inspection
§ 38.2-1306.1. Insurance companies' analyses confidential
§ 38.2-1306.2. Valuation of investments and other assets
§ 38.2-1306.3. Nonadmitted assets
§ 38.2-1311. Valuation reserves
§ 38.2-1312. Unearned premium reserves
§ 38.2-1314. Loss or claim reserves
§ 38.2-1315. Mortgage guaranty insurance contingency reserve
§ 38.2-1315.1. Actuarial statements of opinion, reports, memoranda, and summaries
§ 38.2-1316.2. Credit allowed a domestic ceding insurer
§ 38.2-1316.4. Credit allowed any ceding insurer
§ 38.2-1316.7. Rules and regulations
§ 38.2-1316.8. Reinsurance agreements affected
§ 38.2-1317. Examinations; when authorized or required
§ 38.2-1317.1. Examinations; nature and scope
§ 38.2-1317.2. Market analyses confidential
§ 38.2-1318. Examinations; how conducted
§ 38.2-1319. Expense of examination
§ 38.2-1320. Examination reports; general description
§ 38.2-1320.1. Submission of examination report
§ 38.2-1320.2. Filing of report on examination
§ 38.2-1320.3. Examination reports; orders and procedures
§ 38.2-1320.4. Publication and use of examination reports
§ 38.2-1320.5. Confidentiality of ancillary information
§ 38.2-1321. Records of examination preserved
§ 38.2-1321.1. Immunity from liability
§ 38.2-1323. Acquisition of control of insurers
§ 38.2-1324. Contents of application
§ 38.2-1325. Alternate filing materials
§ 38.2-1326. Approval by Commission
§ 38.2-1327. Time for hearing; order of Commission
§ 38.2-1329. Registration of insurers that are members of holding company system
§ 38.2-1330.1. Dividends and other distributions
§ 38.2-1332.1. Supervisory colleges
§ 38.2-1332.2. Group-wide supervision of internationally active insurance groups
§ 38.2-1333. Confidential treatment of information and documents
§ 38.2-1334. Revocation, suspension, or nonrenewal of insurer's license
§ 38.2-1334.1. Voting of securities, injunctions, and sequestration of voting securities
§ 38.2-1334.2:1. Rules and regulations
§ 38.2-1334.2:3. Statutory construction and relationship to other laws
§ 38.2-1334.4. Risk management framework
§ 38.2-1334.5. ORSA requirement
§ 38.2-1334.6. ORSA summary report
§ 38.2-1334.7. Scope of article; exemption
§ 38.2-1334.8. Contents of ORSA summary report
§ 38.2-1334.9. Confidentiality
§ 38.2-1334.12. Disclosure requirement
§ 38.2-1334.13. Contents of Corporate Governance Annual Disclosure
§ 38.2-1334.14. Confidentiality
§ 38.2-1334.15. NAIC and third-party consultants
§ 38.2-1334.16. Rules and regulations
§ 38.2-1336. Subsidiaries of insurers
§ 38.2-1337. Disclaimer of control
§ 38.2-1340. Revocation, suspension, or nonrenewal of insurer's license
§ 38.2-1343. Minimum standards
§ 38.2-1348. License requirements
§ 38.2-1349. Required contract provisions; reinsurance intermediary brokers
§ 38.2-1350. Books and records; reinsurance intermediary brokers
§ 38.2-1351. Duties of insurers utilizing the services of a reinsurance intermediary broker
§ 38.2-1352. Required contract provisions; reinsurance intermediary managers
§ 38.2-1354. Duties of reinsurers utilizing the services of a reinsurance intermediary manager
§ 38.2-1355. Examination authority
§ 38.2-1357. Requirement to report to Commission
§ 38.2-1360. Required contract provisions
§ 38.2-1361. Duties of insurers utilizing managing general agents
§ 38.2-1362. Examination authority
§ 38.2-1364. Requirement to report to Commission
§ 38.2-1366. Reserve valuation
§ 38.2-1367. Actuarial opinion of reserves
§ 38.2-1368. Minimum valuation standard for policies issued prior to certain dates
§ 38.2-1369. Computation of minimum standard
§ 38.2-1370. Computation of minimum standard for annuities
§ 38.2-1371. Computation of minimum standard by calendar year of issue
§ 38.2-1372. Reserve valuation method; life insurance and endowment benefits
§ 38.2-1373. Reserve valuation method; annuity and pure endowment benefits
§ 38.2-1375. Optional reserve calculation
§ 38.2-1376. Reserve calculation; valuation net premium exceeding the gross premium charged
§ 38.2-1377. Reserve calculation; indeterminate premium plans
§ 38.2-1378. Minimum standard for accident and health insurance contracts
§ 38.2-1380. Requirements of a principle-based valuation
§ 38.2-1383. Single state exemption
§ 38.2-1384. Assessment against insurers whose policies are valued