SOX Debate Must Go On Despite Insurers' Protests, Va.'s Gross Insists

Alfred W. Gross

The debate over insurance company financial reporting should center on the value of what is reported and the effort to change the rules must go on despite opposition by some, according to the state insurance commissioner who chairs a key national committee that is weighing financial disclosure issues.

Virginia Insurance Commissioner Alfred W. Gross, who heads the financial regulation committee of the National Association of Insurance Commissioners, took issue with critics of states' attempts to reform financial disclosure rules, arguing that new rules are necessary for regulators to keep up with changes in how insurance companies operate.

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