MA S795

Requires mutual insurance companies to disclose all conflicts of interest, whether direct or indirect, in their proxy materials and meeting notices

Mandates a non-binding "say-on-pay" vote at least once every 3 years allowing policyholders to approve or disapprove compensation of named executive officers and directors

Commissioner of Insurance will determine the form and format of the required compensation resolution

Directs the Commissioner to promulgate regulations specifically aimed at increasing transparency in executive compensation at mutual companies

Amends Section 19X of Chapter 175 of the General Laws governing mutual insurance company governance