521F.9 - CONFIDENTIALITY -- USE OF REPORTS AND INFORMATION -- PROHIBITION ON ANNOUNCEMENTS -- PROHIBITION ON USE IN RATEMAKING.

        521F.9  CONFIDENTIALITY -- USE OF REPORTS AND      INFORMATION -- PROHIBITION ON ANNOUNCEMENTS -- PROHIBITION ON USE IN      RATEMAKING.         1.  A risk-based capital report, to the extent the information in      the report is not required to be set forth in a publicly available      annual statement schedule, a risk-based capital plan, including the      results or report of any examination or analysis of a health      organization performed pursuant to this chapter, and any corrective      order issued by the commissioner pursuant to an examination or      analysis, which are filed with the commissioner, are deemed not to be      public records under chapter 22 and are privileged and confidential.      This information shall not be made public and is not subject to      subpoena, other than by the commissioner, and then only for the      purpose of enforcement actions taken by the commissioner pursuant to      this chapter or any other provision of the insurance laws of this      state.         2.  The comparison of a health organization's total adjusted      capital to any of its risk-based capital levels is a regulatory tool      which may indicate the need for possible corrective action with      respect to the health organization, and is not to be used as a means      to rank health organizations generally.         3.  Except as otherwise required under this chapter, the      publication or dissemination in any manner of an announcement or      statement which contains an assertion, representation, or statement      with regard to the risk-based capital levels of a health      organization, or of a component derived in the calculation, by a      health organization, agent, broker, or other person engaged in any      manner in the business of insurance, is prohibited.  However, if a      materially false statement comparing a health organization's total      adjusted capital to its risk-based capital levels or a misleading      comparison of any other amount to the health organization's      risk-based capital levels is published or disseminated in any manner      and if the health organization is able to demonstrate to the      commissioner with substantial proof that the statement is false,      misleading, or inappropriate, as the case may be, the health      organization may publish an announcement in a written publication for      the sole purpose of rebutting the materially false, misleading, or      inappropriate statement.         4.  The risk-based capital instructions, risk-based capital      reports, adjusted risk-based capital reports, risk-based capital      plans, and revised risk-based capital plans shall be solely used by      the commissioner in monitoring the solvency of health organizations      and the need for possible corrective action with respect to health      organizations.  The risk-based capital instructions, risk-based      capital reports, adjusted risk-based capital reports, risk-based      capital plans, and revised risk-based capital plans shall not be used      by the commissioner for ratemaking and shall not be considered or      introduced as evidence in any rate proceeding or used by the      commissioner to calculate or derive any elements of an appropriate      premium level or rate of return for any line of insurance which a      health organization or any affiliate is authorized to write.  
         Section History: Recent Form
         2000 Acts, ch 1050, §9         Referred to in § 521F.4