A new law in Michigan allows certain information in auto and home insurance rate filings to be designated as trade secrets to be protected from public disclosure. The law takes effect Jan. 11, 2016, and does not apply to information filed before that date.
Under the law, an insurer can designate information within or accompanying a rate filing as a trade secret, but must demonstrate why it is so. If the Michigan Department of Insurance and Financial Services agrees, the information will be exempt from the state's freedom of information act and not subject to public inspection. Also, insurers are not required to provide information to an insured that is determined to be a trade secret.
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