Article
NAIC Proposes Expansive New Governance, Risk Management and Reporting Duties on Insurance Holding Company Systems; A New Liability Profile Emerges for Directors and Senior Management
In an ambitious move to craft legislation that will override state case law on corporate governance, potentially challenge the federal securities laws as the primary source of the requirement to disclose corporate risk factors, and extend the extra-territorial reach of state insurance regulators to examine and control insurance holding companies and insurers beyond their state borders, a key committee of the National Association of Insurance Commissioners ("NAIC") has exposed amendments (the "Am
Sutherland Asbill & Brennan LLP
