US Laws, Codes, Statutes & Cases

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 54
                  RISK-BASED CAPITAL (RBC) FOR INSURERS ACT
    41-5408.  CONFIDENTIALITY -- PROHIBITION ON ANNOUNCEMENTS, PROHIBITION ON
USE IN RATEMAKING. (1)  All RBC reports, to the extent the information therein
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 hereto and any corrective order
issued by the director pursuant to examination or analysis, with respect to
any domestic insurer or foreign insurer which are filed with the director
constitute information that might be damaging to the insurer if made available
to its competitors, and therefore shall be kept confidential by the director.
Notwithstanding the provisions of chapter 3, title 9, Idaho Code, this
information shall not be made public or be subject to subpoena, other than by
the director and then only for the purpose of enforcement actions taken by the
director pursuant to this chapter or any other provision of the insurance laws
of this state.
    (2)  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. Therefore,
except as otherwise 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 therefore prohibited; provided however, 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 director with substantial proof the falsity of such statement, or the
inappropriateness, as the case may be, 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.
    (3)  It is the further 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 director in monitoring the solvency
of insurers and the need for possible corrective action with respect to
insurers and shall not be used by the director for ratemaking nor considered
or introduced as evidence in any rate proceeding nor used by the director 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.