Page 344

House Bill No. 5506

Public Act No. 22-118 344 of 739

confidentiality and privileged status of the documents, materials or other information and has verified in writing the recipient's legal authority to maintain such confidentiality or privilege, (C) specify that the commissioner shall retain ownership of such information and that the use of such information by the NAIC [or its affiliates or subsidiaries] or a third-party consultant, the International Association of Insurance Supervisors or the Bank for International Settlements is subject to the commissioner's discretion, [(C)] (D) excluding documents, material or information reported pursuant to subsection (h) of section 38a-135, prohibit the NAIC or third-party consultant designated by the commissioner from storing such information shared pursuant to sections 38a-129 to 38a-140, inclusive, in a permanent database after the underlying analysis is completed, (E) require prompt notice to be given to an insurance company whose confidential information is in the possession of the NAIC or [its affiliates or subsidiaries] a third-party consultant designated by the commissioner, the International Association of Insurance Supervisors or the Bank for International Settlements, if the NAIC or [its affiliates or subsidiaries] a third-party consultant designated by the commissioner, the International Association of Insurance Supervisors or the Bank for International Settlements is subject to a request or subpoena for disclosure or production of such information, [and (D)] (F) require the NAIC or [its affiliates or subsidiaries] a third-party consultant designated by the commissioner, the International Association of Insurance Supervisors or the Bank for International Settlements, if any said entity [or such affiliate or subsidiary] is subject to disclosure of an insurance company's confidential information that has been shared with said entity, [or such affiliate or subsidiary,] to allow such insurance company to intervene in any judicial or administrative action regarding such disclosure or information, and (G) for documents, material or information reported pursuant to subsection (h) of section 38a-135, in the case of an agreement involving a third-party consultant, provide for notification of the identity of the consultant to the applicable insurer.