State Rep Proposes New Disclosure Requirement for Insurers
Insurance groups practicing in Pennsylvania would be required to submit a corporate governance disclosure to the state's regulator annually under a new law proposed by state Rep. Tina Pickett, R-Bradford.
September 22, 2017 at 10:49 AM
1 minute read
Insurance groups practicing in Pennsylvania would be required to submit a corporate governance disclosure to the state's regulator annually under a new law proposed by state Rep. Tina Pickett, R-Bradford.
The disclosure, developed by the National Association of Insurance Commissioners, would require insurers to document “highly confidential information about their corporate governance framework.”
Pickett's memo stated the information would be used by insurance regulators to “understand, review and assess” corporate governance practices to “promote effective oversight on an ongoing basis.”
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