A. For purposes of this section, "business entity" means a partnership, limited partnership, limited liability company, corporation, or other legal entity that is entitled to hold property in its own name and that is not a sole proprietorship.
B. This section applies to the Commission's authority to license, register, or authorize business entities pursuant to this title. This section shall not apply to any license issued under Chapter 18 (§ 38.2-1800 et seq.).
C. All applications, documents, materials, or other information produced by, obtained by, or disclosed to the Commission or any other person in the course of an investigation, or a review of an application, shall be given confidential treatment, is not subject to subpoena, and may not be made public by the Commission or any other person. The Commission may grant access to (i) a regulatory official of any state or country; (ii) the National Association of Insurance Commissioners, 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 such applications, documents, materials, or other information, or copies thereof. Any parties receiving such information shall agree in writing prior to receiving the information to provide to it the same confidential treatment as required by this section, unless the prior written consent of the business entity to which it pertains has been obtained.
D. Nothing in this section shall prohibit the Commission from (i) using such confidential information in furtherance of any regulatory or legal action; (ii) publishing any decisions, orders, findings, opinions, or judgments; or (iii) publishing any final report or any other report containing aggregated findings, provided that such reports, decisions, orders, findings, opinions, or judgments shall not disclose any such confidential information.
2009, c. 352; 2016, c. 250.
Structure Code of Virginia
Chapter 2 - Provisions of a General Nature
§ 38.2-200. General powers of the Commission relative to insurance
§ 38.2-201. Recommendations by Commission to General Assembly
§ 38.2-202. Regulation of solicitation of proxies, consents and authorizations
§ 38.2-203. Management and exclusive agency contracts subject to approval by Commission
§ 38.2-205.1. Temporary contracts of insurance permitted
§ 38.2-206. Corporations as members of mutual insurers
§ 38.2-207. Enforcement of right of subrogation in name of insured
§ 38.2-208. Limitation of risks generally
§ 38.2-209. Award of insured's attorney fees in certain cases
§ 38.2-210. Loans to officers, directors, etc., prohibited
§ 38.2-211. Other interests and payments to officers, directors, etc., prohibited
§ 38.2-212. Certain compensation not prohibited
§ 38.2-213. Violation of § 38.2-210 or § 38.2-211
§ 38.2-214. Restrictions upon purchase and sale of equity securities of domestic stock insurers
§ 38.2-216. Restrictions on removal or transfer of property and on reinsurance; penalty
§ 38.2-217. When assets may not be distributed among stockholders
§ 38.2-218. Penalties and restitution payments
§ 38.2-219. Violations; procedure; cease and desist orders
§ 38.2-221. Enforcement of penalties
§ 38.2-221.1. Confidentiality of information
§ 38.2-221.2. Treatment of confidential information pursuant to federal law
§ 38.2-221.3. Confidentiality of applications and investigations
§ 38.2-223. Rules and regulations; orders
§ 38.2-225. Disposition of fines and penalties
§ 38.2-226. Provisions of title not to apply to certain mutual aid associations
§ 38.2-226.2. Provisions of title not applicable to certain long-term care health plans
§ 38.2-227. Public policy regarding punitive damages
§ 38.2-228. Proof of future financial responsibility
§ 38.2-229. Immunity from liability
§ 38.2-230. Distributions by nonstock corporation
§ 38.2-234. Release of information
§ 38.2-235. Liability insurance; carbon monoxide exclusions