Third-party consultants.

Utah Code § 31A-16b-107, under Chapter 31A-16b: Corporate Governance Annual Disclosure Act.

Utah Code § 31A-16b-107

31A-16b-107. Third-party consultants.

(1) The commissioner may retain a third-party consultant, including an attorney, actuary, accountant, or other expert not otherwise a part of the commissioner's staff: at the insurer's or insurance group's expense; and as is reasonably necessary to assist the commissioner in reviewing the insurer's or insurance group's: corporate governance annual disclosure and related information; or compliance with this chapter.

(2) A person the commissioner retains under Subsection: (1) is under the direction and control of the commissioner; and shall act in a purely advisory capacity.

(3) As part of the retention process, a third-party consultant shall verify to the commissioner, with notice to the insurer or insurance group, that the third-party consultant: is free of a conflict of interest; and has internal procedures in place to: monitor compliance with Subsection; and (3)(a) comply with the confidentiality standards and requirements of this chapter.