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of corporate framework. The corporate governance annual disclosure must fully describe the insurer's or insurance group's corporate governance framework and structure, including: (1) All individuals, the board, and any committees responsible for overseeing the insurer or insurance group and their legal relationship to the insurer or insurance group; (2) The rationale for the current board size and structure; (3) The duties of the board and each of its committees, and identification of the bylaws, charters, informal mandates, or other governance documents in which these duties are specified; and (4) A description of how the leadership of the insurance group is structured, including a discussion of the roles of chief executive officer and chairman of the board.

Source: 46 SDR 147, effective July 2, 2020.