Or. Admin. Code § 410-141-5080

Current through Register Vol. 63, No. 10, October 1, 2024

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

(1) Pursuant to ORS 414.018 and Section 54(2) of S.B. 1041, interactions between the Authority and CCOs shall be done in a transparent and public manner. Without limitation of the preceding sentence, the Authority shall publicly disclose all information pertaining to CCOs required by Section 54(3) of S.B. 1041.

(2) Certain documents pertaining to a CCO's financial condition may be considered confidential, when so described in these rules. Financial analysis solvency tools and analytical reports developed by the NAIC, and comparable reports developed or used by DCBS or the Authority, are confidential. In addition, 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 may be considered confidential, 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. If the Authority, in its sole discretion, determines that the cited exemption does not apply or disclosure is necessary to protect the public interest, the Authority may make available work papers, recorded information, documents and copies thereof produced by, obtained by or disclosed to the Authority or any other person in the course of the examination.

(3) The Authority or DCBS may use a confidential document, material or other information in administering these rules and in furthering a 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 192.501 or ORS 192.502, with other state, federal, foreign and international regulatory and law enforcement agencies and with the NAIC and affiliates or subsidiaries of the NAIC, if the recipient agrees to maintain the confidentiality of the document, material or other information; and

(c) Receive a document, material or other information, including an otherwise confidential document, material or other information, from state, federal, foreign and international regulatory and law enforcement agencies and from the NAIC and affiliates or subsidiaries of the NAIC. As provided in this section, the Authority shall maintain the confidentiality of documents, materials or other information received 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.

(4) Disclosing a document, material or other information to the Authority, or sharing a document, material or other information, does not waive an applicable privilege or claim of confidentiality in the document, material or other information.

(5) The Authority may release a final, adjudicated action, including the termination of an CCO's 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.

(6) 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 410-141-5310.

(7) Section 54(3) of S.B. 1041 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.

Or. Admin. Code § 410-141-5080

DMAP 58-2019, adopt filed 12/18/2019, effective 1/1/2020

Statutory/Other Authority: ORS 413.042, 414.615, 414.625, 414.635 & 414.651

Statutes/Other Implemented: ORS 414.610 - 414.685