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Panel backs bill changing how Department of Insurance treats confidentiality for filings; industry warns of trade-secret risk
Summary
Lawmakers advanced House Bill 248, which would alter the process for determining whether rate filings and insurer submissions are confidential. Supporters said the bill increases transparency; industry representatives argued it risks exposing proprietary actuarial models and could deter firms from entering Louisiana’s market.
Representative Wilder advanced House Bill 248, a proposal to modify how the Department of Insurance treats confidential or proprietary information that insurers file with the department. Wilder said the change is meant to enhance transparency and prevent overbroad confidentiality claims.
The Department of Insurance and industry witnesses opposed the version heard in committee. Commissioner Tim Temple and department legal staff said…
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