Connecticut Administrative Code › Title 38a - Insurance Department › 193 - Risk-Based Capital Requirements For Health Care Centers › Section 38a-193-8 - Confidentiality and prohibition on announcements

Current through July 10, 2024
(a) All RBC
			 reports (to the extent the information is not required to be set forth in a
			 publicly available annual statement schedule) and RBC plans (including the
			 results or report of any examination or analysis of a health care center
			 performed pursuant to sections
			 38a-193-1 to
			 38a-193-13,
			 inclusive, of the Regulations of Connecticut State Agencies and any corrective
			 order issued by the commissioner pursuant to examination or analysis) with
			 respect to a health care center that are filed with the commissioner constitute
			 information that might be damaging to the health care center if made available
			 to its competitors, and therefore shall be kept confidential by the
			 commissioner pursuant to the authority of sections
			 38a-14,
			 38a-69a,
			 38a-913
			 and
			 38a-962c
			 of the Connecticut General Statutes. All RBC reports and RBC plans shall be
			 construed as "commercial or financial information given in confidence" as
			 provided under section
			 1-210(b)(5)
			 of the Connecticut General Statutes. This information shall not be made public
			 or be subject to subpoena, other than by the commissioner and then only for the
			 purpose of enforcement actions taken by the commissioner pursuant to sections
			 38a-193-1 to
			 38a-193-13,
			 inclusive, of the Regulations of Connecticut State Agencies or any other
			 provision of the insurance laws or regulations of this state or as provided by
			 law.
(b) The comparison of a health
			 care center's total adjusted capital to any of its RBC levels is a regulatory
			 tool which may indicate the need for corrective action with respect to the
			 health care center, and is not intended as a means to rank health care centers
			 generally. Therefore, except as otherwise required under the provisions of
			 sections
			 38a-193-1 to
			 38a-193-13,
			 inclusive, of the Regulations of Connecticut State Agencies 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 a radio or television station, or in any
			 other way, an advertisement, announcement or statement containing an assertion,
			 representation or statement with regard to the RBC levels of any health care
			 center, or of any component derived in the calculation, by any health care
			 center, agent, broker or other person engaged in any manner in the insurance
			 business would be misleading and is therefore prohibited; provided, however,
			 that if any materially false statement with respect to the comparison regarding
			 a health care center's total adjusted capital to its RBC levels (or any of
			 them) or an inappropriate comparison of any other amount to the health care
			 centers' RBC levels is published in any written publication and the health care
			 center is able to demonstrate to the commissioner with substantial proof the
			 falsity of the statement, or the inappropriateness, as the case may be, then
			 the health care center may publish an announcement in a written publication if
			 the sole purpose of the announcement is to rebut the materially false
			 statement.
(c) The RBC
			 instructions, RBC reports, adjusted RBC reports, RBC plans and revised RBC
			 plans are intended solely for use by the commissioner in monitoring the
			 solvency of health care centers and the need for possible corrective action
			 with respect to health care centers and shall not be used by the commissioner
			 for ratemaking nor considered or introduced as evidence in any rate proceeding
			 nor used by the commissioner to calculate or derive any elements of an
			 appropriate premium level or rate of return for any line of insurance that a
			 health care center or any affiliate is authorized to write.