Create a new section of Subtitle 3 of KRS Chapter 304 to require insurers to file Corporate Governance Annual Disclosures with the Department of Insurance; specify the form and contents of the disclosures; allow insurers to comply with the section by cross-referencing other existing relevant and applicable documents; specify the level at which information shall be reported; require insurers to maintain documentation and support for information provided in the disclosure; specify the format for disclosures filed after the initial disclosure; classify disclosure-related filings, documents, and information as confidential and privileged; permit certain use and sharing of disclosure-related filings, documents, and information; permit the commissioner to retain third-party consultants and the National Association of Insurance Commissioners to assist in review of the disclosures; specify requirements for persons retained by the commissioner; amend KRS 304.37-010 to alphabetize definitions and to add definitions for “groupwide supervisor” and “internationally active insurance group”; create a new section of Subtitle 37 of KRS Chapter 304 to authorize the commissioner to act as or acknowledge another regulatory official as a groupwide supervisor for an internationally active insurance group; establish factors to be considered in making a determination of groupwide supervisor; establish criteria for when the commissioner shall acknowledge another regulatory official acting as a groupwide supervisor; authorize the commissioner to collect information; require the commissioner to make certain notifications; establish the commissioner’s authority when acting as a groupwide supervisor; require certain insurers to pay the reasonable expenses of the commissioner’s participation in the administration of the section; amend KRS 304.37-050 to classify information reported or provided to the department under KRS 304.37-030 and Section 3 of the Act as confidential and privileged and make technical corrections; amend KRS 304.3-090, 304.3-400, 304.24-290, and 304.37-130 to conform.