If an insurer submitting information under this Part deems such information to be a trade or business secret or which if disclosed would cause substantial injury to the competitive position of the insurer, it may, at the time the information is submitted to the superintendent request that the superintendent except such information from disclosure. Such request shall be determined in accordance with the procedures set forth in section 89(5) of the Public Officers Law and Part 241 of this Title (Regulation 71).