Company: NODK
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001174947-25-000304
Chunk: 1041

Company: NI Holdings, Inc.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 2
Chunk 1041
---
 accounting and financial disclosure.

Item 9A.Controls and Procedures

Evaluation of Disclosure Controls and Procedures

The Company’s Chief Executive Officer and
Chief Financial Officer have reviewed and evaluated the effectiveness of the Company’s disclosure controls and procedures (“DCPs”),
as required by Rules 13a-15(b) and 15d-15(b) under the Exchange Act, as of December 31, 2024. Based on that evaluation, the Chief Executive
Officer and Chief Financial Officer have concluded that the Company’s disclosure controls and procedures, as of the end of the period
covered by this report, were designed and functioning effectively to provide reasonable assurance that the information required to be
disclosed in our periodic reports filed under the Exchange Act is recorded, processed, summarized, and reported within the time periods
specified in the SEC’s rules and forms, and that such material information is accumulated and communicated to the Chief Executive
Officer and Chief Financial Officer to allow timely decisions regarding required disclosures. We believe that a control system, no matter
how well designed and operated, cannot provide absolute assurance that the objectives of the control system are met, and no evaluation
of controls can provide absolute assurance that all control issues and instances of fraud, if any, within a company have been detected.

Management’s Report on Internal Control over Financial
Reporting

Our management is responsible for establishing
and maintaining adequate internal control over financial reporting. Under the supervision and with the participation of our Chief Executive
Officer and our Chief Financial Officer, our management has reviewed and evaluated the effectiveness of our internal control over financial
reporting based on the framework and criteria established in Internal Control – Integrated Framework (2013) issued by the Committee
of Sponsoring Organizations of the Treadway Commission (the “COSO Framework”). Because of its inherent limitations, internal
control over financial reporting may not prevent or detect misstatements.

Based on our evaluation under the COSO Framework,
the Chief Executive Officer and Chief Financial Officer have concluded that the Company’s current internal control over financial
reporting is effective at December 31, 2024, and that our consolidated financial statements we include in this 2024 Annual Report present
fairly, in all material respects, our financial position, results of operations, and cash flows in accordance with accounting principles
generally accepted in the United States of America.

Forvis Mazars, LLP, our independent registered
public accounting firm, has issued an audit report on the effectiveness of our internal control over financial reporting as of