The Division of Insurance shall promulgate rules, pursuant to chapter 1-26, to carry out the issuance of the license required by § 58-29E-2 and the enforcement provisions of this chapter. The rules may include the following:
(1) Definition of terms;
(2) Use of prescribed forms;
(3) Reporting requirements;
(4) Enforcement procedures; and
(5) Protection of proprietary information and trade secrets.