(1)(a) Documents, materials or other information, including a corporate governance annual disclosure, that the Director of the Department of Consumer and Business Services discloses to, or receives in a submission or disclosure from, another person or otherwise possesses, controls, obtains or creates in accordance with ORS § 732.680 or 732.683 contains trade secrets, is proprietary, confidential and privileged and is not subject to:

(A) Disclosure under ORS § 192.311 to 192.478;

(B) Subpoena; or

(C) Discovery and is not admissible in evidence in a private civil action.

(b) The director may use documents, materials or other information described in paragraph (a) of this subsection in any regulatory or legal action to carry out the director’s official duties without the prior written consent of the insurer or insurance group that provided or served as a source or subject of the documents, materials or other information but the director may not otherwise make the documents, materials or other information available to the public without prior written consent from the insurer or insurance group.

(c) The director, any person that acted under the director’s authority in an examination or other regulatory action or any person that under ORS § 732.680 or 732.683 received shared documents, materials or other information described in paragraph (a) of this subsection may not testify concerning the documents, materials or other information in any private civil action.

(2)(a) The director, in performing the director’s regulatory duties, may:

(A) Share documents, materials and other information described in subsection (1)(a) of this section, including information in or related to a corporate governance annual disclosure, with other state, federal or international regulatory agencies, including members of a supervisory college described in ORS § 732.571, with the National Association of Insurance Commissioners and with consultants identified in ORS § 732.689 if a regulatory agency, the association or a consultant requests the documents, materials or other information and:

(i) Agrees in writing to maintain any privilege that applies to, and to keep confidential, the documents, materials and other information; and

(ii) Verifies in writing that the regulatory agency, the association or the consultant has legal authority to keep the documents, materials and other information confidential.

(B) Receive documents, materials and other information described in subsection (1)(a) of this section from the National Association of Insurance Commissioners and other state, federal and international regulatory agencies, including members of a supervisory college described in ORS § 732.571.

(b) The director shall maintain any privilege that applies to, and keep confidential, any documents, materials or other information the director receives from any of the persons described in paragraph (a)(B) of this subsection with notice or an understanding that the documents, materials or information are privileged or are confidential under the laws of the jurisdiction in which the person that is the source or subject of the documents, materials or other information is domiciled or exercises regulatory authority.

(3) The director’s or another person’s disclosure of documents, materials or other information described in this section does not waive any privilege or claim of confidentiality that otherwise applies to the documents, materials or other information. [2017 c.479 § 7]

See note under 732.650.