OIR Memorandum Addresses Trade Secrets in I-File
The Office of Insurance Regulation has issued informational memorandum OIR-14-02M notifying insurers of changes to the I-File system relating to the handling of trade secret documents. The I-File system accepts, tracks and makes publicly available insurers’ form and rate filings. However, certain required documents might be trade secrets, which can be protected in the I-File system and pursuant to section 624.4213, Florida Statutes.
The OIR made changes to the I-File interface effective Friday, May 2, 2014. The system now allows an insurer to upload documents under a heading for “Trade Secret Supplementary Information.” The system accomplishes this by creating a check box for the insurer to select when supplementary information it is uploading contains trade secrets. When the insurer checks the trade secret box, a note appears advising the insurer that it must comply with the requirements of section 624.4213 or else it risks waiving the trade secret claim. The statute allows an insurer to submit a document to the OIR as a trade secret as long as the insurer marks every page of the document as a trade secret, segregates the trade secret information from other non-trade secret information, and provides an accompanying affidavit.