Trade Secrets
- Ms. Parachini indicated the Compact legislation already recognizes a trade secret protection for product filings and this rule allows a company to keep competitive information protected.
- Miriam Krol (ACLI) explained the Working Group developing the product standards is incorporating detailed submission requirements, many of which are actuarial in nature.
- These submissions may include pricing methodologies, which companies are prohibited from sharing because of antitrust laws.
2005-2, NAIC Proc.
- NAIC Working Groups - Current / Recent
- ACLI Emily 2019 Ish…
- Compact SERFF
- 4. [A] DISCUSSION AND ORAL COMMENTS ON DRAFT RULES <A]
- Mr. Birnbaum indicated that trade secret claims keep information from the public and the public adds value to this process.
- Mr. Birnbaum requested that the rule indicate that all filings submitted to the Commission be public information.
- Patty Parachini (American Council of Life Insurers--ACLI) indicated that the initial draft contains good working definitions for official records and trade secret with clear guidance for what is public and what is protected.
- Brendan Bridgeland (Center for Insurance Research) stated the presumption of trade secret creates a bias against public access to information for consumers.
- Mr. Birnbaum indicated that trade secret claims keep information from the public and the public adds value to this process.
2005-2 NAIC Proc. - Attachment One - Interstate Compact Implementation (EX) Task Force - 6/13/05