MS HB324

Requires all insurers domiciled in Mississippi to file a Corporate Governance Annual Disclosure (CGAD) with the Commissioner of Insurance no later than June 1 each year, beginning in 2020.

CGAD must be signed by the insurer's chief executive officer or corporate secretary attesting that corporate governance practices have been implemented and the board of directors has received a copy.

Designates CGAD documents and related information as confidential trade secrets exempt from the Mississippi Public Records Act, not subject to subpoena or discovery in private civil actions.

Authorizes the Commissioner to retain third-party consultants (attorneys, actuaries, accountants, and experts) at the insurer's expense to review the CGAD and ensure compliance with the act.

Imposes a penalty of $100 per day for late filing, capped at $10,000, which the Commissioner may reduce if payment would cause financial hardship to the insurer.