In a decision Wednesday, Maine’s Supreme Judicial Court has ruled that salary information from a private company can be made public if that information is filed with a state agency.

It’s an important decision for Maine’s freedom of information law and a blow to corporate secrecy.

In the case before the court, Medical Mutual Insurance Co. fought a decision by the Bureau of Insurance to release information about the salaries of its senior management and board of directors. The insurance company is required to file annual reports with the superintendent of insurance, which includes compensation data. The bureau determined that the salary numbers were covered by Maine’s Freedom of Access Act and had to be released when requested by one of Medical Mutual’s clients. The court agreed with the bureau that the information is not exempt from disclosure laws.

This ruling could have serious implications for heavily regulated industries in Maine, which are required to file extensive paperwork with the state.

The court has given a green light for better examination of those records and opened up a level of corporate governance that is often shielded from public inspection. The ruling will undoubtedly cause some highly paid executives heartburn, but it could also make it easy for members of the public to judge where the money they’re paying in insurance premiums is going.

It’s a win for advocates of open government and for public disclosure.