1. A. When used in this rule, the following words or terms have the meaning described in §1505.

   1. 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.
   2. Person―any individual, company, insurer, association, organization, reciprocal or interinsurance exchange, partnership, business, trust or corporation.
   3. Unfair Competition―the improper use of confidential information for competitive advantages.

Authority Note

AUTHORITY NOTE: Promulgated in accordance with R.S. 22:2.

Historical Note

HISTORICAL NOTE: Promulgated by the Department of Insurance, Commissioner of Insurance, LR 6:283 (June 1980).