Trade Secrets
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