Delaware Code Title 18 Sec. 8506 – Contents of corporate governance annual disclosure
(a) The insurer or insurance group shall have discretion over the responses to the CGAD inquiries, provided the CGAD shall contain the material information necessary to permit the 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 the Commissioner with a clear understanding of the corporate governance policies, the reporting or information system or controls implementing those policies.
Terms Used In Delaware Code Title 18 Sec. 8506
- CGAD: shall mean a confidential report filed by the insurer or insurance group made in accordance with the requirements of this chapter. See Delaware Code Title 18 Sec. 8503
- Commissioner: shall mean the Insurance Commissioner of this State. See Delaware Code Title 18 Sec. 8503
- insurance group: shall mean those insurers and affiliates included within an insurance holding company system as defined in Chapter 50 of this title. See Delaware Code Title 18 Sec. 8503
(b) Notwithstanding subsection (a) of this section above, the CGAD shall be prepared consistent with the Corporate Governance Annual Disclosure Model Regulation to be promulgated by the Commissioner. Documentation and supporting information shall be maintained and made available upon examination by or upon request of the Commissioner.