Adoption of the Corporate Governance Annual Disclosure Model Act and the Corporate Governance Annual Disclosure Model Regulation

Insurance company executives are used to the scrutiny and standards of fiduciary care that may apply to their positions. The standards that apply can be complicated for an insurance company’s senior executives, who have responsibilities related to their shareholders, as well as obligations to the policyholders of the company, subject to robust state regulatory oversight. The National Association of Insurance Commissioners has been studying the states’ general corporate fiduciary standards and working on model corporate governance disclosures that will apply to insurers and/or their holding companies.

Recently, the National Association of Insurance Commissioners’ (NAIC’s) Executive Committee/Plenary voted to adopt the Corporate Governance Annual Disclosure Model Act and the Corporate Governance Annual Disclosure Model Regulation.
Continue Reading Financial Regulatory Changes Underway