A. The insurer or insurance group shall have discretion over the responses to the Corporate Governance Annual Disclosure (CGAD) inquiries, provided the CGAD shall contain the material information necessary to permit the Insurance Commissioner to gain an understanding of the insurer's or group's corporate governance structure, policies, and practices. The Commissioner may request additional information that he or she deems material and necessary to provide a clear understanding of the corporate governance policies, the reporting or information system or controls implementing those policies.
B. Notwithstanding subsection A of this section, the CGAD shall be prepared consistent with any regulation created to support this act. Documentation and supporting information shall be maintained and made available upon examination or upon request of the Commissioner.
Added by Laws 2019, c. 345, § 4, eff. Nov. 1, 2019.