Bill > H7095

This bill creates an exemption from public records requirements for "proprietary business information" submitted by insurers to the Citizens Property Insurance Corporation's policyholder eligibility clearinghouse program, which is a system designed to help find insurance coverage for individuals and businesses. Proprietary business information is defined as data owned or controlled by an insurer that is treated as private because its disclosure would harm the insurer's business operations, is not readily available elsewhere, and includes things like trade secrets or information that would impair competitive business interests; this information is often found in underwriting criteria used to select risks for coverage offers. The bill allows this confidential information to be disclosed only if the insurer gives written consent, a court orders it, or it's shared with another government agency that agrees to keep it confidential. This exemption is temporary and subject to review under the Open Government Sunset Review Act, meaning it will expire on October 2, 2018, unless the Legislature reenacts it, and the bill states this exemption is a public necessity to encourage insurer participation in the clearinghouse program, which aims to provide more insurance choices for consumers and reduce the financial burden on Citizens Property Insurance Corporation.