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Ohio Legislature OKs annual corporate governance disclosure bill

The Ohio Legislature passed a bill that would require state insurers to file an annual corporate governance disclosure to the state insurance department.

Under Senate Bill 273, insurers will have to outline their corporate structure and disclose any changes that happened in the past year to the Ohio Department of Insurance. The information is expected to help the insurance department determine the financial stability of insurers.

The bill, sponsored by State Sen. Kevin Bacon, now awaits the approval of Gov. John Kasich.