Insurance groups and regulators are expressing cautious optimism that a new proposal for a model financial accounting disclosure rule will secure backing from both groups.
At issue are efforts by the National Association of Insurance Commissioners, which held an interim meeting last week in Philadelphia to craft a measure incorporating pieces of the Sarbanes-Oxley Act of 2002 into state regulation.
The NAIC has been laboring for over two years to incorporate pieces of Sarbanes-Oxley into the NAIC's Model Audit Rule. Public companies already comply with Sarbanes-Oxley. Under the proposal, non-public companies would also comply with similar requirements.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
