HRS §431:3G-105
What must be in the annual corporate governance report
Insurance companies and groups decide what to put in their yearly corporate governance report, but it must include key details about their structure, policies, and practices. The insurance commissioner can ask for more information if needed. The report must follow the commissioner's rules, and the company must keep supporting documents available for review.
businesses
The statute, as written — Contents of corporate governance annual disclosure
(a) The insurer or insurance group shall have discretion over the responses to the corporate governance annual disclosure inquiries; provided that the corporate governance annual disclosure shall contain the material information necessary to permit the commissioner to gain an understanding of the insurer's or insurance group's corporate governance structure, policies, and practices. The commissioner may request additional information deemed material and necessary to provide the commissioner 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 corporate governance annual disclosure shall be prepared consistent with rules adopted by the commissioner. Documentation and supporting information shall be maintained and made available upon examination or request of the commissioner.
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