| Date: | 01/20/2020 |
|---|---|
| Organization: | Division of Insurance |
| Regulatory Authority: |
MGL c. 175, §§ 4 and 25 MGL c. 176G, § 10 |
| Official Version: | Purchase the official version |
The purpose of 211 CMR 26.00 is to enhance the Division's surveillance of the financial condition of insurers by requiring:
(a) an annual audit of financial statements reporting the financial position and the results of operations of insurers by independent certified public accountants (CPA);
(b) Communication of Internal Control Related Matters Noted in an Audit; and
(c) Management’s Report of Internal Control over Financial Reporting. 211 CMR 26.00 will assure that CPA audits are conducted which will enhance the protection of
Massachusetts policyholders.