Does An Insurer's Promise Look Like A Stock Certificate? Not From NAMIC's Perspective
Responsible corporate governance that enhances company performance as well as accountability is an exceptionally high priority for the National Association of Mutual Insurance Companies and its members. Insurance companies understand that they exist to honor promises made to policyholders and that integrity and competence in governance are necessary for success.
The promises that insurance policyholders rely on are so deeply interwoven with the public interest that reasonable regulation is both appropriate and expected. Indeed, the states regulation for this purpose has extensive depth and breadth and includes unique accounting authority, annual independent audits, periodic financial examinations, quarterly and annual reporting per NAIC/state prescription, risk-based capital and additional solvency monitoring, and requirements for actuarial analysis and opinion.
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