§ 521H.3 — Corporate governance annual disclosure requirement

Iowa § 521H.3

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 521H: CORPORATE GOVERNANCE ANNUAL DISCLOSURE

Text

1. An insurer, or the insurance group of which the insurer is a member, shall, no later than
June 1 of each calendar year, submit to the commissioner a corporate governance annual
disclosure that contains the information described in section 521H.5. Notwithstanding any
request from the commissioner made pursuant to subsection 2, if an insurer is a member
of an insurance group, the insurer shall submit the disclosure required by this section to
the commissioner of insurance of the lead state of the insurance group of which the insurer
is a member, in accordance with the laws of the lead state, as determined by procedures
containedinthefinancialanalysishandbookadoptedbythenationalassociationofinsurance
commissioners.
2. An insurer or insurance group that is not required to submit a corporate governance
annual disclosure under this section shall do so upon the commissioner’s request.
3. Review of the corporate governance annual disclosure and any additional requests for
information shall be made through the lead state as determined by procedures contained
§521H.3, CORPORATE GOVERNANCE ANNUAL DISCLOSURE 2
in the financial analysis handbook adopted by the national association of insurance
commissioners.
4. Insurers or insurance groups that provide information substantially similar to the
information required by this chapter in other documents provided to the commissioner,
including proxy statements filed in conjunction with the form B insurance holding company
system annual registration statement requirements as provided in section 521A.4, or other
state or federal filings provided to the commissioner, are not required to duplicate that
information in the corporate governance annual disclosure, but shall cross reference the
document in which the information is included.