Section 4-506 - Consultants(a)(1) The Commissioner may retain, at an insurer's expense, third-party consultants as may be reasonably necessary to assist the Commissioner in: (i) reviewing a CGAD and documents, materials, or other CGAD-related information; or(ii) determining an insurer's compliance with this subtitle.(2) Third-party consultants retained under paragraph (1) of this subsection may include attorneys, actuaries, accountants, and any other experts not otherwise a part of the Commissioner's staff.(b) Any person retained under subsection (a) of this section shall:(1) be under the direction and control of the Commissioner; and(2) act in a purely advisory capacity.(c) The NAIC and any third-party consultant shall be subject to the same confidentiality standards and requirements as the Commissioner.(d) As part of the retention process, a third-party consultant shall verify to the Commissioner, with notice to the insurer, that the third-party consultant:(1) is free of a conflict of interest with the insurer; and(2) has internal procedures in place to monitor compliance regarding any conflict and to comply with the confidentiality standards and requirements under this subtitle.(e)(1) The Commissioner shall enter into a written agreement with the NAIC or a third-party consultant governing sharing and use of documents, materials, or other CGAD-related information submitted to the Commissioner under this subtitle.(2) The written agreement under paragraph (1) of this subsection shall:(i) require the written consent of an insurer before making public documents, materials, or other CGAD-related information submitted to the Commissioner under this subtitle;(ii) specify procedures and protocols for maintaining the confidentiality and security of documents, materials, or other CGAD-related information shared with the NAIC or a third-party consultant under this subtitle;(iii) specify procedures and protocols for the sharing of documents, materials, or other CGAD-related information by the NAIC only with other state regulators from states in which an insurance group has domiciled insurers;(iv) specify that the recipient of any documents, materials, or other CGAD-related information:1. agrees in writing to maintain the confidentiality and privileged status of the documents, materials, or other CGAD-related information; and2. has verified in writing the legal authority to maintain confidentiality;(v) specify that:1. ownership of the documents, materials, or other CGAD-related information shared under this subtitle with the NAIC or a third-party consultant remains with the Commissioner; and2. the NAIC's or third-party consultant's use of the information is subject to the direction of the Commissioner;(vi) prohibit the NAIC and any third-party consultant from storing documents, materials, or other CGAD-related information shared under this subtitle in a permanent database after the underlying analysis is completed;(vii) require the NAIC and any third-party consultant to provide prompt notice to the Commissioner and to the insurer or insurance group of which the insurer is a member regarding any subpoena, request for disclosure, or request for production of the insurer's documents, materials, or other CGAD-related information; and(viii) require the NAIC and any third-party consultant to consent to intervention by an insurer in any judicial or administrative action in which the NAIC or the third-party consultant may be required to disclose confidential documents, materials, or other CGAD-related information about the insurer shared with the NAIC or the third-party consultant under this subtitle.Added by 2019 Md. Laws, Ch. 105,Sec. 1, eff. 7/1/2019.