§ 27-4.6-8. Confidentiality — Prohibition on announcements — Prohibition on use in ratemaking.
(a) All RBC reports (to the extent the information in them is not required to be set forth
in a publicly available annual statement schedule) and RBC plans (including the results
or report of any examination or analysis of an insurer performed pursuant to this
chapter and any corrective order issued by the commissioner pursuant to that examination
or analysis) with respect to any domestic insurer or foreign insurer that are filed
with the commissioner constitute information that might be damaging to the insurer
if made available to its competitors, and shall be kept confidential by the commissioner.
This information shall not be made public and/or be 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. All RBC reports and RBC plans filed with the insurance commissioner
shall not be deemed public records and shall not be subject to the Access to Public
Records Act, chapter 2 of title 38.
(b) It is the judgment of the legislature that the comparison of an insurer's total adjusted
capital to any of its RBC levels is a regulatory tool which may indicate the need
for possible corrective action with respect to the insurer, and is not intended as
a means to rank insurers generally. Except as required under the provisions of this
chapter, the making, publishing, disseminating, circulating, or placing before the
public, or causing, directly or indirectly to be made, published, disseminated, circulated,
or placed before the public, in a newspaper, magazine, or other publication, or in
the form of a notice, circular, pamphlet, letter, or poster, or over any radio or
television station, or in any other way, an advertisement, announcement, or statement
containing an assertion, representation, or statement with regard to the RBC levels
of any insurer, or of any component derived in the calculation, by any insurer, agent,
broker, or other person engaged in any manner in the insurance business would be misleading
and is prohibited; provided, that if any materially false statement with respect to
the comparison regarding an insurer's total adjusted capital to its RBC levels (or
any of them) or an inappropriate comparison of any other amount to the insurers' RBC
levels is published in any written publication and the insurer is able to demonstrate
to the commissioner with substantial proof the falsity of that statement, or the inappropriateness,
then the insurer may publish an announcement in a written publication if the sole
purpose of the announcement is to rebut the materially false statement.
(c) It is the judgment of the legislature that the RBC instructions, RBC reports, adjusted
RBC reports, RBC plans, and revised RBC plans are intended solely for use by the commissioner
in monitoring the solvency of insurers and the need for possible corrective action
with respect to insurers and shall not be used by the commissioner for ratemaking
nor considered or introduced as evidence in any rate proceeding nor 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 an insurer or any affiliate is authorized to write.