California Insurance Code ARTICLE 10.8 - Corporate Governance Disclosure Act

• Section 936.1.
  (a) The purpose of this article is to provide the Insurance Commissioner a summary of an insurer or insurance group’s corporate governance structure, policies, and practices...
• Section 936.2.
  For the purposes of this article, the following definitions apply:(a) “Corporate Governance Annual Disclosure (CGAD)” means a confidential report filed by the insurer or insurance group...
• Section 936.3.
  (a) An insurer, or the insurance group of which the insurer is a member, shall, no later than June 1 of each calendar year, submit to...
• Section 936.4.
  The commissioner may, upon notice and opportunity for all interested parties to be heard, issue those rules, regulations, and orders as may be necessary to...
• Section 936.5.
  (a) The insurer or insurance group shall have discretion over the responses to the CGAD inquiries, provided the CGAD contains the material information necessary to permit...
• Section 936.6.
  (a) (1) Documents, materials, or other information, including the CGAD, in the possession or control of the department that are obtained by, created by, or disclosed to,...
• Section 936.7.
  (a) The commissioner may retain, at the insurer's expense, third-party consultants, including attorneys, actuaries, accountants, and other experts not otherwise a part of the commissioner’s staff...
• Section 936.8.
  Any insurer or insurer group failing, without just cause, to timely file the CGAD as required in this article shall be subject to the late...
• Section 936.9.
  The provisions of this article, other than Section 936.6, are severable. If any provision of this article, other than Section 936.6, or its application is...

Last modified: October 22, 2018