SB 40 w/ SA 1 — Session Law

… ATE BILL NO. 40 AS AMENDED BY SENATE AMENDMENT NO. 1 AN ACT TO AMEND TITLE 18 OF THE DELAWARE CODE RELATING TO INSURANCE COMPANY DISCLOSURE REQUIREMENTS. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE: Section 1. A …

… 8502. Purpose and Scope. (a) The purpose of this Act is to: (1) Provide the Commissioner a summary of an insurer or insurance group ’s corporate governance structure, policies and practices to permit the Commissioner to gain and maintain an un …

… isclosure and related information that will contain confidential and sensitive information related to an insurer or insurance group’s internal operations and proprietary and trade secret information which, if made public, could potentially cau …

… operations and proprietary and trade secret information which, if made public, could potentially cause the insurer or insurance group competitive harm or disadvantage. (b) Nothing in this Act shall be construed to prescribe or impose corporate …

… d in this chapter, unless the context requires otherwise: (1) “Commissioner.” The term “Commissioner” shall mean the Insurance Commissioner of this State. (2) “Corporate Governance Annual Disclosure” or “CGAD”. The term “Corporate Governance …

… The term “Corporate Governance Annual Disclosure” or “CGAD” shall mean a confidential report filed by the insurer or insurance group made in accordance with the requirements of this Act. (3) “Insurance group.” For purposes of this Act, the ter …

… nfidential report filed by the insurer or insurance group made in accordance with the requirements of this Act. (3) “Insurance group.” For purposes of this Act, the term “insurance group” shall mean those insurers and affiliates included within …

… oup made in accordance with the requirements of this Act. (3) “Insurance group.” For purposes of this Act, the term “insurance group” shall mean those insurers and affiliates included within an insurance holding company system as defined in Cha …