CODE OF VIRGINIA

CONFIDENTIALITY OF INFORMATION (§ 38.2-221.1)

Whenever, during the course of a market conduct examination pursuant to Article
4 (§ 38.2-1317 et seq.) of Chapter 13 or inspection request or inquiry pursuant
to § 38.2-200, the Commission requests an insurer to furnish information which
the insurer considers confidential proprietary information, such confidential
proprietary information shall be submitted to the Commission but shall be
excluded from, and the Commission shall not be subject to, subpoena or public
inspection with respect to such information if the insurer (i) invokes such
exclusion, in writing, upon submission of the data or other materials for which
protection from disclosure is sought; (ii) identifies the data or other
materials for which protection is sought; and (iii) states the reason why
protection is necessary. Nothing contained herein shall prohibit the Commission
from (i) using such confidential proprietary information in furtherance of any
regulatory or legal action; (ii) publishing any decisions, orders, findings,
opinions, or judgments; or (iii) publishing any final market conduct report or
any other report containing aggregated findings, provided that such report,
decisions, orders, findings, opinions, or judgments shall not disclose such
confidential proprietary information unless the Commission has found, after the
insurer has been provided notice and opportunity to be heard, that such
information is not confidential proprietary information. No waiver of an
existing privilege or claim of confidentiality shall occur as a result of
disclosure to the Commission under this section.

HISTORY: 2000, c. 527.