September 6, 2010

Competitive Information or Open Records?

“CompSource has traditionally been glad to share high level financial information with the public. However, CompSource must object when a competitor tries to take advantage of the Open Records Act to obtain specific, sensitive information for its own commercial gain.”

—Robert McCampbell, attorney for CompSource Oklahoma, the state established non-profit provider of workers’ compensation insurance, comments on an open records request from a competitor. National American Insurance Co. (NAICO), which McCambell said competes against CompSource in the state’s workers’ compensation market, has requested records that include competitively sensitive information such as detailed actuarial reports, individual policyholder and claim data, and certain contractual provisions. CompSource said the request was made under the Oklahoma Open Records Act, but CompSource maintains that because it receives no state appropriations and its operations are funded solely by collected premiums and investment revenue, it is not subject to the terms of the Act. CompSource has filed a petition in the District Court of Oklahoma County, asking the court to deny NAICO’s request.

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Insurance Journal West September 6, 2010
September 6, 2010
Insurance Journal West Magazine

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