Bill > S1850

This bill creates an exemption from public records requirements for proprietary business information submitted by an insurance company to the Citizens Property Insurance Corporation's clearinghouse, which is a program designed to help consumers find insurance coverage. Proprietary business information is defined as information owned by an insurer that is treated as private because its disclosure would harm the insurer, an individual, or business operations, and is not otherwise publicly available. This includes trade secrets and information about competitive interests, such as underwriting criteria used to select risks for insurance offers. This information can only be disclosed with the insurer's written consent, a court order, or to other government agencies that agree to keep it confidential. The exemption is subject to a sunset review and is set to expire on October 2, 2018, unless reenacted by the Legislature, and the bill emphasizes that this confidentiality is necessary to encourage insurer participation in the clearinghouse program, thereby providing more insurance choices for consumers and reducing the financial burden on the Citizens Property Insurance Corporation and other policyholders.