The financial statements would need to be detailed enough to allow for an actuarially sound analysis of all income sources, including premiums, investment income, and profit from sale of assets. On the expense side, insurers would have to disclose salaries, commissions, consulting fees, legal expenses, advertising costs, and other business expenses. One provision that is likely to draw attention in the industry is the requirement for each insurer to itemize the salary of its twenty most highly compensated employees, with salaries defined to include all other forms of compensation, though the names of those employees need not be disclosed. The financial statement would also need to include a synopsis of claims or settlements paid, with that information identified and categorized separately for each zip code in the state.
