February 21, 2020

RE: LSA Document #19-317, Corporate Governance Annual Disclosure

On behalf of the Indiana Department of Insurance (Department), I am submitting this notice to the Publisher of the Indiana Register in compliance with IC 4-22-2-19, which requires an agency to begin the rulemaking process not later than 60 days after the effective date of the statute that authorizes the rule.

Pursuant to IC 27-1-4.1-15 (P.L.146-2015), the Commissioner may adopt rules concerning corporate governance annual disclosure (CGAD) statements. IC 27-1-4.1-10 requires insurers or insurance groups to prepare CGAD statements in a manner consistent with the Corporate Governance Annual Disclosure Model Regulation (Model #306) promulgated by the National Association of Insurance Commissioners. The Department filed a Notice of Intent to Adopt a Rule on June 19, 2019 (DIN: 20190619-IR-760190317NIA), for a Proposed Rule based upon Model 306. Insurers and insurance groups have been filing CGAD statements in accordance with the requirements of the Proposed Rule since 2016. The Department is in the process of adopting LSA Document #19-317 to formalize this process.

The Department expects to publish a Proposed Rule by April 1, 2020, and expects to hold a public hearing by May 1, 2020. In order to provide ample time to review comments received at the public hearing and for the appropriate review times, the Department expects to have the Final Rule approved by September 30, 2020.

Amy Beard

General Counsel

Indiana Department of Insurance