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LA SB297
Bill
Status
2/27/2026
Primary Sponsor
Royce Duplessis
Click for details
AI Summary
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Insurers claiming trade secret protection for rate filing documents must file a formal notice of nondisclosure request with the Insurance Commissioner, with failure to file constituting waiver of the claim
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Trade secret claims require a sworn affidavit attesting the information has independent economic value from secrecy, measures have been taken to prevent disclosure, and public release would cause demonstrable harm
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Financial information used in rate calculations, transactions with affiliates, employee compensation, shareholder dividends, and rate filing information are explicitly excluded from trade secret protection
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The Commissioner must contract with an independent third-party expert at least every other year to review trade secret claims, with a report due to the legislature by February 1
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Knowingly asserting false trade secret claims to conceal unlawful financial practices carries penalties up to $25,000 per violation and potential suspension or revocation of insurance licenses
Legislative Description
Provides a process for insurers to assert the right to prevent public inspection of certain filing information based on a claim of trade secret. (8/1/26)
INSURANCE RATES
Last Action
Introduced in the Senate; read by title. Rules suspended. Read second time and referred to the Committee on Insurance.
3/9/2026