31A-17-608 - Confidentiality -- Prohibition on announcements -- Prohibition on use in ratemaking.
31A-17-608. Confidentiality -- Prohibition on announcements -- Prohibition on usein ratemaking.
(1) (a) The commissioner shall keep confidential to the extent that information in a reportor plan is not required to be included in a publicly available annual statement schedule, any detailin an RBC report or RBC plan including the results or report of any examination or analysis of aninsurer or health organization performed pursuant to this part, that is filed by a domestic orforeign insurer or health organization with the commissioner or any corrective order issued bythe commissioner pursuant to examination or analysis.
(b) Information kept confidential under Subsection (1)(a) may not be made public or besubject to subpoena, other than by the commissioner and then only for the purpose ofenforcement actions taken by the commissioner pursuant to this part or any other provision of theinsurance laws of this state.
(2) (a) Except as otherwise required under this part, any insurer or health organization,producer, or other person engaged in any manner in the insurance business may not publish,disseminate, circulate or place before the public, or cause, directly or indirectly, the publishing,disseminating, circulating or placing before the public including, in a newspaper, magazine, otherpublication, a notice, circular, pamphlet, letter, or poster, or over any radio or television station,an advertisement, announcement, or statement containing an assertion, representation, orstatement with regard to the RBC levels of any insurer or health organization, or of anycomponent derived in the calculation.
(b) If any materially false statement with respect to the comparison regarding an insurer'sor health organization's total adjusted capital to its RBC levels, or an inappropriate comparison ofany other amount to the insurer's or health organization's RBC levels is published in any writtenpublication and the insurer or health organization is able to demonstrate to the commissionerwith substantial proof the falsity of the statement or the inappropriateness, the insurer or healthorganization may publish an announcement in a written publication if the sole purpose of theannouncement is to rebut the materially false statement or inappropriate comparison.
(3) The commissioner may not use an RBC instruction, report, plan, or revised plan:
(a) for ratemaking;
(b) as evidence in any rate proceeding; or
(c) to calculate or derive any element of an appropriate premium level or rate of returnfor any line of insurance or coverage that an insurer or health organization or any affiliate isauthorized to write or cover.
Amended by Chapter 298, 2003 General Session