§ 27-1-4.1-6 — Annual submission of CGAD

Indiana § 27-1-4.1-6

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 1: DEPARTMENT OF INSURANCE
• Ch. 4.1: Corporate Governance Annual Disclosure

Text

(a) An insurer or insurance group of which the
insurer is a member shall, not later than June 1 of each calendar year,
submit:
(1) to the commissioner; or
(2) if the insurer is a member of an insurance group, to the lead
state commissioner of the insurance group (as determined by the
procedures in the Financial Analysis Handbook) according to the
law of the lead state;
a CGAD.
(b) An insurer that is a member of an insurance group and not
required to submit a CGAD to the commissioner under subsection (a)
shall submit a CGAD to the commissioner upon the commissioner's
request.
(c) A CGAD submitted under this section must include the signature
of the insurer's or insurance group's chief executive officer or corporate
secretary attesting that to the best of the chief executive officer's or
corporate secretary's knowledge the insurer has:
(1) implemented corporate governance procedures; and
(2) provided a copy of the CGAD to the insurer's board of
directors or the appropriate committee of the board of directors.

Legislative History

As added by P.L.146-2015, SEC.19. Amended by P.L.124-2018, SEC.10.