OAR 836-011-0022
Filing Procedures


(1)

An insurer, or the insurance group of which the insurer is a member, required to file a CGAD by the Corporate Governance Annual Disclosure Model Act shall no later than June 1 of each calendar year, submit to the director a CGAD that contains the information described in 836-011-0024 (Contents of Corporate Governance Annual Disclosure) of these regulations.
(2) The CGAD must include a signature of the insurer’s or insurance group’s chief executive officer or corporate secretary attesting to the best of that individual’s belief and knowledge that the insurer or insurance group has implemented the corporate governance practices and that a copy of the CGAD has been provided to the insurer’s or insurance group’s Board of Directors (hereafter “Board”) or the appropriate committee thereof.
(3) The insurer or insurance group shall have discretion regarding the appropriate format for providing the information required by these regulations and is permitted to customize the CGAD to provide the most relevant information necessary to permit the director to gain an understanding of the corporate governance structure, policies and practices utilized by the insurer or insurance group.
(4) For purposes of completing the CGAD, the insurer or insurance group may choose to provide information on governance activities that occur at the ultimate controlling parent level, an intermediate holding company level and/or the individual legal entity level, depending upon how the insurer or insurance group has structured its system of corporate governance. The insurer or insurance group is encouraged to make the CGAD disclosures at the level at which the insurer’s or insurance group’s risk appetite is determined, or at which the earnings, capital, liquidity, operations, and reputation of the insurer are overseen collectively and at which the supervision of those factors are coordinated and exercised, or the level at which legal liability for failure of general corporate governance duties would be placed. If the insurer or insurance group determines the level of reporting based on these criteria, it shall indicate which of the three criteria was used to determine the level of reporting and explain any subsequent changes in level of reporting.
(5) Notwithstanding Subsection (1) of this Section, and as outlined in Section 3 of the Corporate Governance Annual Disclosure Model Act, if the CGAD is completed at the insurance group level, then it must be filed with the lead state of the group as determined by the procedures the director adopts by rule after considering the procedures outlined in a Financial Analysis Handbook that the NAIC has adopted. In these instances, a copy of the CGAD must also be provided to the chief regulatory official of any state in which the insurance group has a domestic insurer, upon request.
(6) An insurer or insurance group may comply with this section by referencing other existing documents (e.g. ORSA Summary Report, Holding Company Form B or F Filings, Securities and Exchange Commission (SEC) Proxy Statements, foreign regulatory reporting requirements, etc.) if the documents provide information that is comparable to the information described in Section 5. The insurer or insurance group shall clearly reference the location of the relevant information within the CGAD and attach the referenced documents if it is not already filed or available to the regulator.
(7) Each year following the initial filing of the CGAD, the insurer or insurance group shall file an amended version of the previously filed CGAD indicating where changes have been made. If no changes were made in the information or activities reported by the insurer or insurance group, the filing should so state.
836‑011‑0000
Annual Statement Blank and Instructions
836‑011‑0015
Property and Casualty Actuarial Opinion of Reserves and Supporting Documentation
836‑011‑0020
Definitions
836‑011‑0022
Filing Procedures
836‑011‑0024
Contents of Corporate Governance Annual Disclosure
836‑011‑0030
Own Risk and Solvency Assessment
836‑011‑0050
Requirements for Segregation of Premium Received for Coverage Not Eligible for Federal Subsidies
836‑011‑0100
Authority
836‑011‑0110
Definitions
836‑011‑0120
Filing and Extensions for Filing of Annual Audited Financial Reports
836‑011‑0130
Exemptions
836‑011‑0140
Contents of Annual Audited Financial Report
836‑011‑0150
Designation of Independent Certified Public Accountant
836‑011‑0160
Qualifications of Independent Certified Public Accountant
836‑011‑0170
Consolidated or Combined Audits
836‑011‑0180
Scope of Audit and Report of Independent Certified Public Accountant
836‑011‑0190
Notification of Adverse Financial Condition
836‑011‑0200
Communication of Internal Control Related Matters Noted in an Audit
836‑011‑0210
Accountant’s Letter of Qualifications
836‑011‑0220
Definition, Availability and Maintenance of Independent Certified Public Accountants Workpapers
836‑011‑0223
Requirements for Audit Committee
836‑011‑0224
Internal Audit Function Requirements
836‑011‑0225
Conduct of Insurer in Connection with the Preparation of Required Reports and Documents
836‑011‑0227
Management’s Report of Internal Control over Financial Reporting
836‑011‑0230
Canadian and British Companies
836‑011‑0235
Effective Dates
836‑011‑0250
Authority
836‑011‑0253
Definitions
836‑011‑0255
Reserve Adequacy
836‑011‑0258
Unallocated Reserve Account
836‑011‑0260
Distribution of Annual Financial Statement
836‑011‑0300
Statutory Authority
836‑011‑0305
Definitions
836‑011‑0310
RBC Reports
836‑011‑0320
Company Action Level Event
836‑011‑0330
Regulatory Action Level Event
836‑011‑0340
Authorized Control Level Event
836‑011‑0350
Mandatory Control Level Event
836‑011‑0360
Hearings
836‑011‑0380
Supplemental Provisions
836‑011‑0390
Foreign Insurers
836‑011‑0430
Scope and Authority
836‑011‑0440
Report
836‑011‑0450
Acquisitions and Dispositions of Assets
836‑011‑0460
Nonrenewals, Cancellations or Revisions of Ceded Reinsurance Agreements
836‑011‑0500
Application
836‑011‑0505
Definitions
836‑011‑0510
RBC Reports
836‑011‑0515
Company Action Level Event
836‑011‑0520
Regulatory Action Level Event
836‑011‑0525
Authorized Control Level Event
836‑011‑0530
Mandatory Control Level Event
836‑011‑0535
Hearings
836‑011‑0540
Supplemental Provisions
836‑011‑0545
Foreign Health Care Service Contractors
836‑011‑0600
Report on Services Provided by Expanded Practice Dental Hygienists
Last Updated

Jun. 8, 2021

Rule 836-011-0022’s source at or​.us