During 2017, a significant number of states across the U.S. will see the introduction and enactment of laws requiring insurers to make an annual filing describing their corporate governance structure and practices in extensive detail.

Within a few years, it's likely that every state will pass essentially the same bill.

The laws, requiring the filing of a "Corporate Governance Annual Disclosure" (or CGAD, for short, in our acronym-loving industry) will soon become a requirement of the financial solvency accreditation program of the National Association of Insurance Commissioners (NAIC). The program requires that each state's insurance department adopt certain model laws and regulations relating to insurer financial matters for the state to maintain accreditation with the NAIC.

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