Insurance regulation; corporate governance annual disclosures.

Requires each insurer domiciled in the Commonwealth, or the insurance group of which the insurer is a member, to submit to the State Corporation Commission (SCC) a Corporate Governance Annual Disclosure (CGAD). The CGAD is a confidential report containing material information related to an insurer or insurance group's internal operations that permits the SCC to gain an understanding of the insurer's or insurance group's corporate governance structure, policies, and practices,. The measure sets out requirements for completing and submitting a CGAD with the SCC and provides for the confidential treatment of the CGAD and related information. The measure has a delayed effective date of January 1, 2018.