Insurers, Regulators Edge Toward Middle Ground On Sarbanes-Oxley

Though it's been less than three months since regulators at the National Association of Insurance Commissioners began to look in earnest at drawing some highly controversial elements of the Sarbanes-Oxley Act of 2002 into insurance regulation, the idea has evolved to meet what appears to be its first compromise.

At issue has been Section 404 of the act's Title IV, which compels senior management to report annually on the effectiveness of its internal controls over financial reporting, and to have those assessments signed off by an auditor.

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