The Organisation for Economic Co-operation and Development (OECD) has published revised guidelines on insurer governance. The guidelines are non-binding and serve as a reference point for insurers, governmental authorities, and other relevant stakeholders in OECD and non-OECD countries.
Key updates relate to matters including:
- related party transactions at the group level;
- disclosure of policies relating to ethics, business conduct, conflicts of interest, and public policy including environment and social issues;
- disclosure on the roles of the Chair and CEO;
- recognition of employee representation; and
- promotion of diversity on boards.