Florida Office of Insurance Regulation Appeals State Farm Florida Trade Secret Case
May 23, 2016
The Florida Office of Insurance Regulation (“OIR”) advised today, May 23, 2016, that it has filed a Notice of Appeal in a Second Judicial Circuit Court case involving State Farm Florida Insurance Company and the question of whether insurance policy distribution data is eligible for designation as a “trade secret.”
The OIR previously released a statement on March 30, 2016 announcing the Court’s decision on this case and it was subsequently memorialized by the judge in a May 2, 2016 written Order attached for review. In this Order, the court ruled in favor of State Farm Florida’s claim of trade secret protection for its Quarterly and Supplemental Reporting System (also known as QUASR) data, which is submitted to the OIR pursuant to Florida law.
Then-Florida Insurance Commissioner Kevin McCarty said of the March 30 ruling: “I am disappointed in the outcome of (the) ruling and believe this weakens the ability for consumers to access information in this state.”
Colodny Fass will monitor these developments and provide additional information as it becomes available.
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