375.1267. Reports and plans confidential--RBC levels are regulatory tool, limitation on use.

MISSOURI STATUTES AND CODES

375.1267. Reports and plans confidential--RBC levels are regulatory tool, limitation on use.

Reports and plans confidential--RBC levels are regulatory tool,limitation on use.

375.1267. 1. All RBC reports, to the extent the information thereinis not required to be set forth in a publicly available annual statementschedule, and RBC plans, including the results or report of any examinationor analysis of an insurer performed pursuant to this section and anycorrective order issued by the director pursuant to examination oranalysis, with respect to any insurer or foreign insurer which are filedwith the director constitute information that might be damaging to theinsurer or foreign insurer if made available to its competitors, andtherefore shall be kept confidential by the director. This informationshall neither be made public nor be subject to subpoena, other than by thedirector and then only for the purpose of enforcement actions taken by thedirector pursuant to sections 375.1250 to 375.1275 or any other provisionof the insurance laws of this state.

2. The comparison of an insurer's total adjusted capital to any ofits RBC levels is a regulatory tool which may indicate the need forpossible corrective action with respect to the insurer, and is not intendedas a means to rank insurers generally. Therefore, except as otherwiserequired pursuant to the provisions of sections 375.1250 to 375.1275, themaking, publishing, disseminating, circulating or placing before thepublic, or causing directly or indirectly, the making, publishing,disseminating, circulating or placing before the public, in a newspaper,magazine or other publication, or in the form of a notice, circular,pamphlet, letter or poster, or over any radio or television station, or inany other way, an advertisement, announcement or statement containing anassertion, representation or statement with regard to the RBC levels of anyinsurer, or of any component derived in the calculations by any insurer,agent, broker or other person engaged in any manner in the business ofinsurance would be misleading and is therefore an unfair trade practice asdefined in section 375.934; except that if any materially false statementwith respect to the comparison regarding an insurer's total adjustedcapital to its RBC levels or an inappropriate comparison of any otheramount to the insurer's RBC levels is published in any written publicationand the insurer is able to demonstrate with substantial proof the falsityof such statement, or the inappropriateness, as the case may be, then theinsurer may publish an announcement in a written publication if the solepurpose of the announcement is to rebut the materially false statement.

3. The RBC instructions, RBC reports, adjusted RBC reports, RBC plansand revised RBC plans are intended solely for use by the director inmonitoring the solvency of insurers and the need for possible correctiveaction with respect to insurers and shall not be used by the director forratemaking nor considered or introduced as evidence in any rate proceedingnor used by the director to calculate or derive any elements of anappropriate premium level or rate of return for any line of insurance whichan insurer or any affiliate is authorized to write.