[Rev. 6/20/2022 8:21:43 AM]
[NAC-692C Revised Date: 5-22]
CHAPTER 692C - HOLDING COMPANIES
GENERAL PROVISIONS
692C.005 Definitions.
692C.010 “Commissioner” defined.
692C.014 “Senior management” defined.
692C.015 Severability.
ACQUISITIONS, MERGERS, REGISTRATION, SUBSIDIARIES AND TRANSACTIONS
692C.020 Form for filing statement relating to acquisition or merger; notification to Commissioner of change in information.
692C.030 Forms for filing registration statement; amendment to form if change in information.
692C.035 Filing registration statement or similar report on behalf of affiliated insurer; filing consolidated statement or report.
692C.040 Form for notice of intent to enter into transaction.
692C.045 Potential competitive impact of proposed merger or acquisition: Required notice and form; additional information.
692C.050 Additional information relating to acquisitions, mergers, registration and transactions.
692C.055 Form for filing annual report of enterprise risk; amendment to form if change in information; “principal of a registered insurer” interpreted.
692C.060 Agreement between registered insurer and affiliate for sharing cost of services or for management services.
692C.070 Authority to organize or acquire subsidiary.
CORPORATE GOVERNANCE ANNUAL DISCLOSURE
692C.200 Determination by insurer or insurance group of appropriate format for providing information; provision of additional information.
692C.205 Disclosure requirements.
692C.210 Cross-referencing of documents; privacy and confidentiality.
692C.215 Annual submission of amended version of disclosure or letter indicating no changes; submission deemed to satisfy requirements of statute.
692C.220 Requirements and contents of disclosure.
GENERAL PROVISIONS
NAC 692C.005 Definitions. (NRS 679B.130, 692C.120, 692C.3505) As used in this chapter, unless the context otherwise requires, the words and terms defined in NAC 692C.010 and 692C.014 have the meanings ascribed to them in those sections.
(Added to NAC by Comm’r of Insurance by R094-17, eff. 5-16-2018)
NAC 692C.010 “Commissioner” defined. (NRS 679B.130, 692C.120) “Commissioner” means the Commissioner of Insurance.
(Supplied in codification; A by Comm’r of Insurance by R094-17, 5-16-2018)
NAC 692C.014 “Senior management” defined. (NRS 679B.130, 692C.120, 692C.3505) “Senior management” means each corporate officer responsible for reporting information to the board of directors of an insurer or insurance group at regular intervals, as determined by the board of directors in compliance with applicable state or federal law and regulations, or providing this information to shareholders or regulators in compliance with applicable state or federal law and regulations. The term includes, without limitation, the:
1. Chief executive officer;
2. Chief financial officer;
3. Chief information officer;
4. Chief legal officer or general counsel;
5. Chief operating officer;
6. Chief procurement officer;
7. Chief revenue officer;
8. Chief technology officer; and
9. Chief visionary officer.
(Added to NAC by Comm’r of Insurance by R094-17, eff. 5-16-2018)
NAC 692C.015 Severability. (NRS 679B.130, 692C.120) If any provision of this chapter or the application thereof to any person or circumstance is held invalid, such invalidity does not affect the provisions or application of this chapter that can be given effect without the invalid provision or application, and to this end the provisions of this chapter are declared to be severable.
(Added to NAC by Comm’r of Insurance by R026-02, eff. 5-31-2002)
ACQUISITIONS, MERGERS, REGISTRATION, SUBSIDIARIES AND TRANSACTIONS
NAC 692C.020 Form for filing statement relating to acquisition or merger; notification to Commissioner of change in information. (NRS 679B.130, 692C.120, 692C.180)
1. A person required to file a statement with the Commissioner pursuant to NRS 692C.180 shall furnish the required information on the form provided by the Commissioner entitled “Form A - Statement Regarding the Acquisition of Control of or Merger with a Domestic Insurer.”
2. If the subject of the proposed acquisition is deemed to be a domestic insurer pursuant to subsection 5 of NRS 692C.180 solely because it controls a domestic insurer:
(a) The names of the domestic insurers must be shown on the cover page of Form A in substantially the following form:
........................................................ , a subsidiary of ............................................................... .
(domestic insurer) (subject of proposed acquisition)
(b) For the purposes of Form A, the term “insurer” means the subject of the proposed acquisition and its subsidiary.
3. The person may attach any exhibit to the form if the exhibit is clearly marked to indicate the matter to which it refers.
4. If there is any change in the information provided on the form filed with the Commissioner before the Commissioner approves or disapproves the merger or other acquisition of control, the person shall immediately notify the Commissioner of that change.
5. Form A must be completed in accordance with the current version of the Insurance Holding Company System Reporting Instructions of the National Association of Insurance Commissioners and the instructions provided by the Commissioner. A copy of Form A and the general instructions for Form A may be obtained at http://doi.nv.gov.
(Added to NAC by Comm’r of Insurance, eff. 4-25-96; A by R026-02, 5-31-2002; R078-16, 12-21-2016)
NAC 692C.030 Forms for filing registration statement; amendment to form if change in information. (NRS 679B.130, 692C.120, 692C.270, 692C.310, 692C.320)
1. Except as otherwise provided in NAC 692C.035, an insurer required to file a registration statement with the Commissioner pursuant to NRS 692C.270 shall furnish the required information on the forms provided by the Commissioner entitled “Form B - Insurance Holding Company System Annual Registration Statement” and “Form C - Summary of Registration Statement.” A domestic insurer shall file Form B and Form C with the Commissioner not later than June 30 of each year. An insurer shall file Form C with the agency that regulates insurance in each state in which the insurer is authorized to do business, if the information is requested by that agency.
2. The insurer may attach any exhibit to the form if the exhibit is clearly marked to indicate the matter to which it refers.
3. If there is any change in the information provided on Form B, the insurer shall file an amendment to that form within 15 days after the month in which the change occurred. The insurer shall file the amendment on that form by completing only those items which were affected by the change and by including, at the top of the first page of the form, “Amendment No. ........ (number of amendment) to Form B for ........ (year)” and the day and month on which the change occurred.
4. Form B and Form C must be completed in accordance with the current version of the Insurance Holding Company System Reporting Instructions of the National Association of Insurance Commissioners and the instructions provided by the Commissioner. A copy of Form B and Form C and the general instructions for Form B and Form C may be obtained at http://doi.nv.gov.
(Added to NAC by Comm’r of Insurance, eff. 4-25-96; A by R026-02, 5-31-2002; R078-16, 12-21-2016)
NAC 692C.035 Filing registration statement or similar report on behalf of affiliated insurer; filing consolidated statement or report. (NRS 679B.130, 692C.120, 692C.270, 692C.310, 692C.320)
1. Except as otherwise provided in subsection 4:
(a) An authorized insurer may file a registration statement on behalf of any affiliated insurer that is required to register pursuant to NRS 692C.260 to 692C.350, inclusive. A registration statement may include information not required pursuant to chapter 692C of NRS regarding any insurer in the insurance holding company system even if the insurer is not authorized to do business in this State. Except as otherwise provided in paragraph (b), the registration statement must be filed on Form B, as set forth in NAC 692C.030.
(b) In lieu of filing a registration statement on Form B, an authorized insurer may file a copy of the registration statement or similar report that it is required to file in its state of domicile if:
(1) The statement or report includes information that is substantially similar to the information required to be furnished on Form B; and
(2) The authorized insurer is the principal insurance company in the insurance holding company system.
2. The question of whether an authorized insurer is the principal insurance company in an insurance holding company system is a question of fact, and an authorized insurer filing a registration statement or report in lieu of Form B on behalf of an affiliated insurer shall set forth a brief statement of facts which substantiates the authorized insurer’s claim that it is the principal insurer in the insurance holding company system.
3. After obtaining the approval of the Commissioner, an unauthorized insurer may file a registration statement or report in accordance with the provisions of subsections 1 and 2.
4. An affiliated insurer is not required to obtain the approval of the Commissioner before filing a consolidated statement or report or taking any other action that may be allowed by the Commissioner pursuant to NRS 692C.310 or 692C.320. The Commissioner may, however, require each affiliated insurer to provide any required information on an individual basis if the Commissioner determines it is necessary in the interest of clarity, ease of administration or the public good.
(Added to NAC by Comm’r of Insurance by R078-16, eff. 12-21-2016)
NAC 692C.040 Form for notice of intent to enter into transaction. (NRS 679B.130, 692C.120, 692C.363)
1. An insurer required to give notice to the Commissioner of its intention to enter into any transaction set forth in NRS 692C.363 shall furnish the required information on the form provided by the Commissioner entitled “Form D - Prior Notice of a Transaction.” The insurer may attach any exhibit to the form if the exhibit is clearly marked to indicate the matter to which it refers.
2. Form D must be completed in accordance with the current version of the Insurance Holding Company System Reporting Instructions of the National Association of Insurance Commissioners and the instructions provided by the Commissioner. A copy of Form D and the general instructions for Form D may be obtained at http://doi.nv.gov.
(Added to NAC by Comm’r of Insurance, eff. 4-25-96; A by R026-02, 5-31-2002; R078-16, 12-21-2016)
NAC 692C.045 Potential competitive impact of proposed merger or acquisition: Required notice and form; additional information. (NRS 679B.130, 692C.120, 692C.254)
1. An insurer shall give notice to the Commissioner of the potential competitive impact of a proposed merger or acquisition by a non-domiciliary insurer doing business in this state or by a domestic insurer on the form provided by the Commissioner entitled “Form E - Pre-Acquisition Notification Form Regarding the Potential Competitive Impact of a Proposed Merger or Acquisition by a Non-Domiciliary Insurer Doing Business in this State or by a Domestic Insurer.”
2. Form E must be completed in accordance with the current version of the Insurance Holding Company System Reporting Instructions of the National Association of Insurance Commissioners and the instructions provided by the Commissioner. A copy of Form E and the general instructions for Form E may be obtained at http://doi.nv.gov.
3. In addition to the information required by Form E, the Commissioner may require an insurer to submit the opinion of an expert concerning the potential competitive impact of the proposed merger or acquisition.
(Added to NAC by Comm’r of Insurance by R026-02, eff. 5-31-2002; A by R078-16, 12-21-2016)
NAC 692C.050 Additional information relating to acquisitions, mergers, registration and transactions. (NRS 679B.130, 692C.120) After receiving any form specified in NAC 692C.020 to 692C.045, inclusive, the Commissioner may request additional information if it is necessary to clarify any information included on the form.
(Added to NAC by Comm’r of Insurance, eff. 4-25-96; A by R026-02, 5-31-2002)
NAC 692C.055 Form for filing annual report of enterprise risk; amendment to form if change in information; “principal of a registered insurer” interpreted. (NRS 679B.130, 692C.120, 692C.290)
1. The principal of a registered insurer that is required to file an annual report of enterprise risk with the Commissioner pursuant to NRS 692C.290 shall furnish the required information on the form provided by the Commissioner entitled “Form F - Enterprise Risk Report.” The principal shall file Form F with the Commissioner not later than June 30 of each year.
2. The insurer may attach any exhibit to the form if the exhibit is clearly marked to indicate the matter to which it refers.
3. If there is any change in the information provided on Form F, the insurer shall file an amendment to that form within 15 days after the end of the month in which the change occurred. The insurer shall file the amendment on that form by completing only those items which were affected by the change and by including, at the top of the first page of the form, “Amendment No. ........ (number of amendment) to Form F for ........ (year)” and the day and month on which the change occurred.
4. Form F must be completed in accordance with the current version of the Insurance Holding Company System Reporting Instructions of the National Association of Insurance Commissioners and the instructions provided by the Commissioner. A copy of Form F and the general instructions for Form F may be obtained at http://doi.nv.gov.
5. For the purposes of this section and NRS 692C.290, the Commissioner interprets the term “principal of a registered insurer” to mean a person who controls a registered insurer and is not controlled by any other person.
(Added to NAC by Comm’r of Insurance by R078-16, eff. 12-21-2016)
NAC 692C.060 Agreement between registered insurer and affiliate for sharing cost of services or for management services. (NRS 679B.130, 692C.120, 692C.360) Any agreement between a registered insurer and an affiliate for sharing the cost of services or for management services must, to the extent applicable:
1. Identify the person providing the services and the nature of those services;
2. Set forth the methods to allocate each cost;
3. Require:
(a) Timely settlement, not less frequently than quarterly; and
(b) Compliance with the requirements set forth in the Accounting Practices and Procedures Manual published by the National Association of Insurance Commissioners, as adopted by reference in NAC 679B.033;
4. Prohibit any advancement of money by the insurer to the affiliate, except to pay for services defined in the agreement;
5. State that the insurer will:
(a) Maintain oversight for any functions performed for the insurer by the affiliate; and
(b) Monitor services at least annually for quality assurance;
6. Define books and records of the insurer to include, without limitation, all books and records developed or maintained under or related to the agreement;
7. Specify that all books and records of the insurer are and remain the property of the insurer and are subject to the control of the insurer;
8. State that all money and invested assets of the insurer are the exclusive property of the insurer, are held for the benefit of the insurer and are subject to the control of the insurer;
9. Include standards for the termination of the agreement with and without cause;
10. Include provisions for the indemnification of the insurer in the event of gross negligence or willful misconduct on the part of the affiliate providing the services;
11. Specify that, if the insurer is placed in receivership or seized by the Commissioner pursuant to chapter 696B of NRS:
(a) All of the rights of the insurer under the agreement extend to the receiver or Commissioner; and
(b) All relevant books and records will immediately be made available to the receiver or the Commissioner, and must be turned over to the receiver or Commissioner immediately upon the receiver’s or Commissioner’s request;
12. Specify that the affiliate has no automatic right to terminate the agreement if the insurer is placed in receivership pursuant to chapter 696B of NRS; and
13. Specify that the affiliate will continue to maintain any systems, programs or other infrastructure related to the agreement, notwithstanding a seizure of the insurer by the Commissioner pursuant to chapter 696B of NRS, and will make them available to the receiver while the affiliate continues to receive timely payment for services rendered.
(Added to NAC by Comm’r of Insurance by R078-16, eff. 12-21-2016)
NAC 692C.070 Authority to organize or acquire subsidiary. (NRS 679B.130, 692C.120, 692C.130) Except as otherwise provided by specific statute, the authority to organize or acquire one or more subsidiaries conferred on a domestic insurer by NRS 692C.130 is in addition to any authority to invest in a subsidiary conferred on a domestic insurer by any other provision of title 57 of NRS.
(Added to NAC by Comm’r of Insurance by R078-16, eff. 12-21-2016)
CORPORATE GOVERNANCE ANNUAL DISCLOSURE
NAC 692C.200 Determination by insurer or insurance group of appropriate format for providing information; provision of additional information. (NRS 679B.130, 692C.120, 692C.3505) Each insurer or insurance group may:
1. Determine the appropriate format of the corporate governance annual disclosure for providing the information required by NRS 692C.3501 to 692C.3509, inclusive, and NAC 692C.200 to 692C.220, inclusive; and
2. Customize the format of the corporate governance annual disclosure to provide any additional information necessary for the Commissioner to understand the structure of and policies and practices used by the insurer or insurance group for corporate governance.
(Added to NAC by Comm’r of Insurance by R094-17, eff. 5-16-2018)
NAC 692C.205 Disclosure requirements. (NRS 679B.130, 692C.120, 692C.3505) If an insurer is a member of an insurance group and submits the corporate governance annual disclosure to the insurance commissioner of the lead state for the insurance group pursuant to subsection 1 of NRS 692C.3504, the insurer shall, upon request, also submit a copy of the corporate governance annual disclosure to the chief regulatory official of any state where an insurer that is a member of the insurance group is, under the laws of that state, considered to be a domestic insurer of that state.
(Added to NAC by Comm’r of Insurance by R094-17, eff. 5-16-2018)
NAC 692C.210 Cross-referencing of documents; privacy and confidentiality. (NRS 679B.130, 692C.120, 692C.3505)
1. An insurer or insurance group may cross-reference in a corporate governance annual disclosure other documents, including, without limitation:
(a) An ORSA Summary Report;
(b) A form which is substantially similar to the Form B-Insurance Holding Company System Annual Registration Statement of the National Association of Insurance Commissioners;
(c) A form which is substantially similar to the Form F-Enterprise Risk Report of the National Association of Insurance Commissioners; or
(d) Any documents, materials or reports required by other state, federal and international financial regulatory agencies.
2. If any documents that are otherwise public are cross-referenced in a corporate governance annual disclosure pursuant to NRS 692C.3507, the Commissioner will:
(a) Not deem such cross-referencing to affect the public nature of such documents that are cross-referenced; and
(b) Consider such documents that are cross-referenced to be public documents.
3. If any documents that are otherwise private or confidential are cross-referenced in a corporate governance annual disclosure pursuant to NRS 692C.3507, the Commissioner will:
(a) Not deem such cross-referencing to affect the private or confidential nature of such documents that are cross-referenced; and
(b) Consider such documents that are cross-referenced to be private or confidential documents not available for disclosure to the public.
4. An insurer or insurance group shall clearly cross-reference the location of the relevant information within the corporate governance annual disclosure and attach the cross-referenced document if the document is not already filed with or available to the Commissioner.
(Added to NAC by Comm’r of Insurance by R094-17, eff. 5-16-2018)
NAC 692C.215 Annual submission of amended version of disclosure or letter indicating no changes; submission deemed to satisfy requirements of statute. (NRS 679B.130, 692C.120, 692C.3505)
1. After an insurer or an insurance group has submitted an initial corporate governance annual disclosure pursuant to subsection 1 of NRS 692C.3504, the insurer or insurance group shall, not later than June 1 of each subsequent calendar year:
(a) If any changes were made to the corporate governance annual disclosure filed in the immediately preceding calendar year, submit an amended version of the corporate governance annual disclosure filed in the immediately preceding calendar year that indicates any changes to the corporate governance annual disclosure filed in the immediately preceding calendar year; or
(b) If no changes were made to the corporate governance annual disclosure filed in the immediately preceding calendar year, submit a letter stating that no changes were made to the corporate governance annual disclosure filed in the immediately preceding calendar year.
2. An amended version of the corporate governance annual disclosure or a letter submitted by an insurer or insurance group pursuant to subsection 1 must include the signature of the chief executive officer or corporate secretary of the insurer or insurance group attesting that, to the best of that person’s belief and knowledge, the insurer or insurance group has implemented and complied with the requirements set forth in subsection 3 of NRS 692C.3504.
3. The Commissioner will deem:
(a) The requirement to file a corporate governance annual disclosure pursuant to subsection 1 of NRS 692C.3504 as satisfied if an insurer or insurance group submits an amended version of the corporate governance annual disclosure or a letter pursuant to this section; and
(b) The amended version of the corporate governance annual disclosure or the letter submitted by an insurer or insurance group pursuant to this section to include the information provided in the initial corporate governance annual disclosure submitted by an insurer or an insurance group pursuant to subsection 1 of NRS 692C.3504, except where any amended version of the corporate governance annual disclosure or any letter subsequently submitted pursuant to this section indicates any changes to the corporate governance annual disclosure.
(Added to NAC by Comm’r of Insurance by R094-17, eff. 5-16-2018)
NAC 692C.220 Requirements and contents of disclosure. (NRS 679B.130, 692C.120, 692C.3505, 692C.3506)
1. Each insurer or insurance group shall:
(a) Be as descriptive as possible in completing the corporate governance annual disclosure; and
(b) Include, without limitation, documents used in the corporate governance of the insurer or insurance group that demonstrate the strength of the framework and practices of the corporate governance of the insurer or insurance group.
2. For the purposes of describing the framework and structure of the corporate governance of an insurer or insurance group, the insurer or insurance group shall include, without limitation, in the corporate governance annual disclosure the following:
(a) An identification of the board of directors of the insurer or insurance group and any committee thereof that has the ultimate responsibility for overseeing the insurer or insurance group and an explanation of how such oversight occurs;
(b) The size and structure, including, without limitation, the structure of the leadership, of the board of directors and an explanation as to why the board of directors is of such size and structure;
(c) The duties of the board of directors and any committee thereof and whether the duties are governed by bylaws, charters, informal mandates or by some other method; and
(d) The roles of the chief executive officer and chair of the board of directors.
3. For the purposes of describing the policies and practices of the board of directors of the insurer or insurance group and any committee thereof, the insurer or insurance group shall include, without limitation, in the corporate governance annual disclosure the following:
(a) The qualifications, expertise and experience of each member of the board of directors and an explanation of how such qualifications, expertise and experience assist in meeting the needs of the insurer or insurance group;
(b) An explanation of how the board of directors and any committee thereof maintain their independence;
(c) The number of meetings held by the board of directors and any committee thereof over the past year and information regarding the attendance of each member of the board of directors at such meetings;
(d) An explanation of how the insurer or insurance group identifies, nominates and elects a member of the board of directors and any committee thereof and:
(1) Whether the insurer or insurance group has established a committee to identify and select individuals for consideration as a member to the board of directors or any committee thereof;
(2) Whether term limits are placed on the members of the board of directors;
(3) The procedure for the election and reelection of a member of the board of directors; and
(4) Whether a policy promoting diversity on the board of directors and any committee thereof is in place and, if so, an explanation of how such a policy functions; and
(e) Information concerning any:
(1) Processes that are in place for the board of directors to evaluate its performance and the performance of any committee thereof; and
(2) Measures that the board of directors has recently taken to improve the performance of the board of directors and any committee thereof, including, without limitation, any training programs that the board of directors has put in place.
4. For the purposes of describing the policies and practices of the board of directors of the insurer or insurance group for directing and managing senior management, the insurer or insurance group shall include, without limitation, in the corporate governance annual disclosure the following:
(a) If the board of directors uses any suitability standard or other process to determine if each prospective member of senior management has the qualifications, expertise, experience and integrity required to fulfill his or her prospective position, the board of directors must identify:
(1) The specific positions for which suitability standards have been developed;
(2) A description of the suitability standards used; and
(3) Any changes that occur in the suitability standards for each member of senior management;
(b) The code of business conduct and ethics of the insurer or insurance group and an explanation of how such a code:
(1) Complies with any applicable federal or state laws and regulations; and
(2) Provides a method to report any behavior or conduct that is illegal or unethical;
(c) The plan of the insurer or insurance group for succession of the chief executive officer and the other members of senior management; and
(d) An explanation of how the insurer or insurance group ensures effective performance by senior management throughout the organization by using performance evaluations, programs of compensation and corrective action. Such information must contain sufficient detail so that the Commissioner is able to understand how the insurer or insurance organization ensures that programs of compensation do not encourage or reward excessive risk-taking by senior management. The insurer or insurance group:
(1) Shall include a description of the general objectives of significant programs of compensation and the types of actions or results that the programs of compensation are designed to reward; and
(2) May include, without limitation:
(I) The role of the board of directors in overseeing programs of compensation and practices for senior management;
(II) The various elements of compensation provided by the programs of compensation of the insurer or insurance group and an explanation of how the insurer or insurance group determines and calculates the amount of each element of compensation paid;
(III) An explanation of how the programs of compensation of the insurer or insurance group are related to the performance of both the company and each member of senior management over a period of time;
(IV) Whether the programs of compensation contain risk adjustments and, if so, how such adjustments are incorporated into the programs of compensation of different members of senior management and other employees;
(V) Any provisions built into the programs of compensation to recover any awards or payments made to a member of senior management or another employee if the measure of performance upon which such awards or payments were calculated are restated or otherwise adjusted; and
(VI) Any other factors relevant in understanding how the insurer or insurance group monitors its programs of compensation and policies regarding such programs to determine whether the objectives for risk management of the insurer or insurance group are met by incentivizing its members of senior management and other employees.
5. For the purposes of describing the policies and practices by which the board of directors of the insurer or insurance group, any committee thereof and senior management oversee the critical risk areas that impact the business activities of the insurer or insurance group, each insurer or insurance group shall include, without limitation, in the corporate governance annual disclosure the following:
(a) An explanation of how the board of directors delegates the responsibilities of overseeing and managing critical risk areas among the board of the directors, any committees thereof and senior management;
(b) An explanation of how the insurer or insurance group keeps the board of directors informed of the:
(1) Strategic plans of the insurer or insurance group;
(2) Associated risks of those strategic plans; and
(3) Steps senior management is taking to monitor and manage those associated risks; and
(c) An explanation of how the insurer or insurance group organizes for each critical risk area the responsibility of reporting. Such information must contain sufficient detail so that the Commissioner can understand the frequency at which information on each critical risk area is reported to and reviewed by the board of directors and senior management. The insurer or insurance group may include, without limitation, information on how the following critical risk areas of the insurer or insurance group are reported:
(1) Risk management processes or an ORSA Summary Report containing the information required pursuant to NRS 692C.351 to 692C.3548, inclusive;
(2) Actuarial function;
(3) Investment decision-making processes;
(4) Reinsurance decision-making processes;
(5) Business strategy and finance decision-making processes;
(6) Compliance function;
(7) Financial reporting and internal auditing; and
(8) Market regulation decision-making processes.
(Added to NAC by Comm’r of Insurance by R094-17, eff. 5-16-2018)