District of Columbia Code Division V. Local Business Affairs § 31-336. NAIC and third-party consultants.
Current as of January 01, 2020 | Updated by FindLaw Staff
Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
(a) The Commissioner may disclose information received pursuant to this chapter to the NAIC in reviewing the Corporate Governance Annual Disclosure and related information or in evaluating an insurer's compliance with this chapter.
(b)(1) The Commissioner may retain, at the insurer's expense, third-party consultants, including attorneys, actuaries, accountants, and other experts not otherwise a part of the Commissioner's staff, as may be reasonably necessary, to assist the Commissioner in reviewing the Corporate Governance Annual Disclosure and related information or in evaluating the insurer's compliance with this chapter.
(2) The Commissioner shall have the authority to enter into a written agreement with the NAIC or a third-party consultant governing the sharing and use of information provided pursuant to this chapter. The agreement shall comply with the standards set forth in § 31-4121.07(d)(2).
(3) A third-party consultant retained pursuant to this subsection shall serve under the direction and control of the Commissioner and shall act in an advisory capacity to the Commissioner.
(4) The NAIC, and third-party consultants retained pursuant to this subsection, shall be subject to the same confidentiality standards and requirements as the Commissioner.
(c) As part of the retention process, a third-party consultant shall verify to the Commissioner, with notice to the insurer, that it is free of a conflict of interest and has internal procedures in place to identify conflicts and monitor compliance with any measures taken to cure any conflicts and to comply with the confidentiality standards and requirements of this chapter.
Cite this article: FindLaw.com - District of Columbia Code Division V. Local Business Affairs § 31-336. NAIC and third-party consultants. - last updated January 01, 2020 | https://codes.findlaw.com/dc/division-v-local-business-affairs/dc-code-sect-31-336/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?