NAIC Sarbanes-Oxley 404 Proposal Would Impose Exorbitant Costs

New Study Measures Costs, Potential Benefits

Adding Sarbanes-Oxley Section 404 content to state insurance regulation would cost almost eight times the maximum potential benefit to mutual insurance companies if all insolvencies were eliminated, according to a study released today by the National Association of Mutual Insurance Companies (NAMIC). A.Thomas Finnell, Jr., CPA of Finnell & Company, PLLC, conducted the study for NAMIC.

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