§ 505.17

505.17 Confidential information. 1. a. Information, records, and documents utilized for the purpose of, or in the course of, investigation, regulation, or examination of an insurance company or insurance holdingcompany, received by the division from some other governmental entity which treats suchinformation, records, and documents as confidential, are confidential and shall not bedisclosed by the division and are not subject to subpoena. Such information, records, anddocuments do not constitute a public record under chapter 22. b. The disclosure of confidential information, administrative or judicial orders which contain confidential information, or information regarding other action of the division whichis not a public record subject to disclosure, to other insurance and financial regulatoryofficials may be permitted by the commissioner provided that those officials are subject to,or agree to comply with, standards of confidentiality comparable to those imposed on thecommissioner. 2. Notwithstanding subsection 1, an application for a rate increase filed by a health insurance carrier and all information, records, and documents accompanying such anapplication or utilized for the

2. Notwithstanding subsection 1, an application for a rate increase filed by a health insurance carrier and all information, records, and documents accompanying such anapplication or utilized for the purpose of, or in the course of consideration of the applicationby the commissioner, shall constitute a public record under chapter 22 except as provided inthis subsection. a. The commissioner shall consider the written request of a health insurance carrier to keep confidential certain details of an application or accompanying information, records,and documents. If the request includes a sufficient explanation as to why public disclosureof such details would give an unfair advantage to competitors, the commissioner shall keepsuch details confidential. If the commissioner elects to keep certain details confidential,the commissioner shall release only the nonconfidential details in response to a request forrecords made pursuant to chapter 22. If confidential details are withheld from a request forrecords made pursuant to chapter 22, the commissioner shall release an explanation of whythe information was deemed confidential and a summary of the nature of the informationwithheld and the

uest forrecords made pursuant to chapter 22, the commissioner shall release an explanation of whythe information was deemed confidential and a summary of the nature of the informationwithheld and the reasons for withholding the information. b. In considering requests for confidential treatment, the commissioner shall narrowly construe the provisions of this subsection in order to appropriately balance an applicant’sneed for confidentiality against the public’s right to information about the application. 94 Acts, ch 1176, §4; 99 Acts, ch 165, §1; 2010 Acts, ch 1121, §6, 33Referred to in §505.7 Sat Dec 23 00:38:34 2023 Iowa Code 2024, Section 505.17 (21, 0)