A. Documents, materials or other information in the possession or control of the department that are considered an actuarial report, work papers or actuarial opinion summary provided in support of the opinion and any other material provided by the company to the director in connection with the actuarial report, work papers or actuarial opinion summary are confidential, shall not be subject to public records requests, shall not be subject to subpoena and shall not be subject to discovery or admissible in evidence in any private civil action.

B. This section and section 20-697 shall not be construed to limit the director’s authority to release the documents to the actuarial board for counseling and discipline so long as the material is required for the purpose of professional disciplinary proceedings and that the actuarial board for counseling and discipline establishes procedures satisfactory to the director for preserving the confidentiality of the documents, nor shall this section be construed to limit the director’s authority to use the documents, materials or other information in furtherance of any regulatory or legal action brought as part of the director’s official duties.

C. Neither the director nor any person who receives documents, materials or other information while acting under the authority of the director shall be permitted or required to testify in any private civil action concerning any confidential documents, materials or information subject to subsection A of this section.

D. The director may:

1. Share documents, materials or other information, including the confidential and privileged documents, materials or information subject to subsection A of this section with other state, federal and international regulatory agencies, with the national association of insurance commissioners and its affiliates and subsidiaries and with state, federal and international law enforcement authorities, provided that the recipient agrees to maintain the confidentiality and privileged status of the document, material or other information and has the legal authority to maintain confidentiality.

2. Receive documents, materials or information, including otherwise confidential and privileged documents, materials or information, from the national association of insurance commissioners and its affiliates and subsidiaries, and from regulatory and law enforcement officials of other foreign or domestic jurisdictions, and shall maintain as confidential or privileged any document, material or information received with notice or the understanding that it is confidential or privileged under the laws of the jurisdiction that is the source of the document, material or information.

3. Enter into agreements governing the sharing and use of information consistent with subsections A through D of this section.

E. No waiver of any applicable privilege or claim of confidentiality in the documents, materials or information shall occur as a result of disclosure to the director under this section or as a result of sharing as authorized in subsection D of this section.