Louisiana Administrative Code
Title 37 - INSURANCE Part
Part XI - Rules
Chapter 15 - Rule Number 5-Unfair Trade Practices
Section XI-1505 - Definitions
Current through Register Vol. 50, No. 9, September 20, 2024
A. When used in this rule, the following words or terms have the meaning described in §1505
Confidential Information- information obtained by means of a confidential or fiduciary relationship and the existence of such relationship precludes the party in whom trust and confidence is placed from participating in profit or advantages resulting from the dealing as the parties to the relation. Specifically, information given a mortgagee pertaining to expiration date of insurance contracts and rating and coverages information is confidential information.
Person- any individual, company, insurer, association, organization, reciprocal or interinsurance exchange, partnership, business, trust or corporation.
Unfair Competition- the improper use of confidential information for competitive advantages.
AUTHORITY NOTE: Promulgated in accordance with R.S. 22:2.
