Transparency in Insurance Matters

Defining the term "trade secret"; revising the requirements of a notice of trade secret submitted to the Office of Insurance Regulation or the Department of Financial Services; specifying that certain information is not a trade secret and is subject to public disclosure; requiring the office to review all claims of trade secret protection; requiring that fees, commissions, and profit-sharing agreements between insurers and affiliates be filed with the office and made publicly accessible on the department's website, etc.