Ga. Comp. R. & Regs. R. 120-2-23-.21 - Confidentiality of Information Received From International Regulators
(1)
Scope of Rule. This Rule shall apply where
confidential information is shared between an international regulator and the
Commissioner pursuant to a memorandum of understanding between the Commissioner
and the international regulator covering the sharing of confidential
information.
(2)
Definitions.
(a)
"Access confidentiality statement" shall mean the statement set forth in Form G
that is executed by any individual who is authorized by the Commissioner to
have access to confidential information.
(b) "Authorized individual" shall mean an
individual who has executed an access confidentiality statement.
(c) "Confidential information" shall mean all
information that is confidential pursuant to O.C.G.A. ยงยง
33-2-14(g) and
33-13-8(a) and
which is covered by the memorandum of understanding.
(d) "Disclosure restriction" shall mean any
restriction that is set forth in the memorandum of understanding that restricts
or otherwise prevents the Commissioner from exercising his discretion to
disclose confidential information.
(e) "International regulator" shall mean the
entity that has responsibility for regulating insurance in a non-U.S.
jurisdiction.
(f) "Memorandum of
understanding" shall mean the agreement governing the sharing and use of
confidential information between the Commissioner and the international
regulator.
(g) "Person" shall mean
an individual, insurer, company, association, trade association,organization,
society, reciprocal or interinsurance exchange, partnership, syndicate,
business trust, corporation, Lloyd's association, and associations, groups, or
department of underwriters, and any other legal entity.
(h) "Scope of use" shall mean the use of
confidential information in manner that is consistent with the description of
the regulatory need for confidential information set forth in the
Commissioner's request for confidential information from an international
regulator or as otherwise approved by the international regulator.
(3)
Access to
confidential information. Only authorized individuals shall have
access to confidential information.
(4)
Use of confidential
information. Confidential information may only be used in a manner
that is consistent with the scope of use.
(5)
Unauthorized
disclosure. It is a violation of this Rule for an individual to
knowingly disclose confidential information to any person that is not
authorized to access confidential information. An individual acts knowingly if
he or she knows that the disclosure is a violation of this Rule.
(6)
Inadvertent
disclosure. It is not a violation of this Rule for an individual
to inadvertently disclose confidential information to any person that is not
authorized to access confidential information. An individual acts inadvertently
if he or she does not knowingly disclose confidential information to a person
that is not authorized to access the confidential information.
(7)
Required
disclosure. If the Commissioner is required to disclose
confidential information to a person that is not an authorized individual by
law or by court order, then the Commissioner will provide notice of such
disclosure in accordance with the terms of the memorandum of understanding or,
if not addressed in the memorandum of understanding, the Commissioner shall
give notice to the international regulator prior to the disclosure.
(8)
Immunity. This
Rule does not waive or alter the applicability of any statutory or common law
immunity available to an authorized individual or employee of the Department of
Insurance.
Notes
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