HB531: Insurance rate filings; exempts insurance rate-related information filed with SCC from inspection.

HOUSE BILL NO. 531
Offered January 13, 2010
Prefiled January 12, 2010
A BILL to amend and reenact § 38.2-1907of the Code of Virginia, relating to access to insurance rate filing information.
Patron-- Nixon

Committee Referral Pending

Be it enacted by the General Assembly of Virginia:

1.  That § 38.2-1907 of the Code of Virginia is amended and reenacted as follows:

§ 38.2-1907. Filings open to inspection.

Each filing and all supplementary rate information filed under this chapter, other than information contained therein or filed therewith that constitutes a trade secret, as defined in § 59.1-336, shall be open to public inspection. The insurer or other person making such a filing shall have the burden of persuading the Commissioner that information constitutes a trade secret. Copies of materials open to public inspection may be obtained by any person on request and upon payment of a reasonable charge for the copies. Where feasible, the Commission shall compile and make available to the public the lists of rates charged by insurers for or in connection with the insurance contracts or policies to which this chapter applies so as to inform the public of price competition among insurers.