Or. Admin. Code § 410-141-5080

Current through Register Vol. 64, No. 1, January 1, 2025

Section 410-141-5080 - FINANCIAL SOLVENCY REGULATION: Transparency

(1) Pursuant to ORS 414.018 and 414.593(2), interactions between the Authority and CCOs shall be done in a transparent and public manner.

(2) The Authority shall publicly disclose all information pertaining to CCOs required by ORS 414.593(3) that is not deemed confidential in this subsection. Such confidential documents include:

(a) Certain documents pertaining to a CCO's financial condition, as described in these rules.

(b) Financial analysis solvency tools and analytical reports developed by the NAIC, and comparable reports developed or used by DCBS or the Authority.

(c) Any work papers, recorded information, documents and copies thereof that are produced or obtained by or disclosed to the Authority or DCBS, or any other person in the course of an examination or in the course of analysis by the Authority or DCBS of the financial condition or market conduct of an CCO, if the CCO specifically designates the confidential portions and cites an exemption from public disclosure under the Oregon Public Records Law, ORS 192.311 to 192.478. The Authority may, in its sole discretion, determine that the exemption cited by the CCO does not apply or disclosure is necessary to protect the public interest, in accordance with Oregon Public Records Law.

(3) The Authority may use a confidential document, material or other information in administering these rules and in any regulatory or legal action brought as a part of the Authority's duties. In order to assist in the performance of the Authority's duties, the Authority may:

(a) Authorize sharing a confidential document, material or other information as appropriate among the administrative divisions and staff offices of the Authority or DCBS for the purpose of administering and enforcing the statutes within the authority of the Authority, in order to enable the administrative divisions and staff offices to carry out their functions and responsibilities;

(b) Share a document, material or other information, including a confidential document, material or other information that is subject to this rule or that is otherwise exempt from disclosure under ORS 192.311 to 192.478, in response to a request from the NAIC or a state, federal, foreign, or international law enforcement agency.

(4) Upon notice or with an understanding that the document, material or other information is confidential or privileged under the laws of the jurisdiction that is the source of the document, material or other information, the Authority shall maintain the confidentiality of documents, materials or other information received from state, federal, foreign and international regulatory and law enforcement agencies and from the NAIC.

(5) The Authority's use, sharing, and disclosure of a document, material or other information does not waive an applicable privilege or claim of confidentiality in the document, material or other information.

(6) The Authority may release a final, adjudicated action, including the termination of a CCO Contract, if the action is otherwise open to public inspection, to a database or other clearinghouse service maintained by the NAIC or affiliates or subsidiaries of the NAIC.

(7) All information, documents and copies thereof obtained by or disclosed to the Authority, DCBS or any other person in the course of an examination or investigation made or conducted under these rules shall be subject to the provisions of OAR 410-141-5305.

(8) ORS 414.593 requires the Authority to make readily available to the public on an easily accessible website, and to annually report to the Legislative Assembly, certain information regarding each CCO contracting with the Authority. Nothing in this rule shall be construed as making confidential any information described in the previous sentence.

(9) Nothing in this rule shall be construed as waiving the Confidentiality requirements of OAR 410-141-5278.

Or. Admin. Code § 410-141-5080

DMAP 58-2019, adopt filed 12/18/2019, effective 1/1/2020; DMAP 143-2024, amend filed 12/29/2024, effective 1/1/2025

Statutory/Other Authority: ORS 413.042, 414.572, 414.591 & 414.605

Statutes/Other Implemented: ORS 414.570-414.686 & 415.001-415.430