                                 CODE OF VIRGINIA

CONTENTS OF CORPORATE GOVERNANCE ANNUAL DISCLOSURE (§ 38.2-1334.13)

A. The insurer or insurance group shall have discretion over the responses to
the CGAD inquiries, provided that the CGAD shall contain the material
information necessary to permit the Commission to gain an understanding of the
insurer&#8217;s or insurance group&#8217;s corporate governance structure,
policies, and practices. The Commission may request additional information
deemed material and necessary to provide the Commission with a clear
understanding of the corporate governance policies, the reporting or information
system, or the controls implementing those policies.

B. Notwithstanding subsection A, the CGAD shall be prepared consistent with the
rules and regulations promulgated by the Commission to administer the
requirements of this article. Documentation and supporting information shall be
maintained and made available upon examination or upon request of the
Commission.

HISTORY: 2017, c. 643.