Company: NODK
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001174947-25-000304
Chunk: 2282

Company: NI Holdings, Inc.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 7A
Chunk 2282
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. Additionally, this material weakness could
result in misstatements of the aforementioned accounts or disclosures that would result in a material misstatement to the annual or interim
consolidated financial statements that would not be prevented or detected.

Remediation Plan for Material Weakness

Upon identification of the material weakness, management developed
a remediation plan, which included designing and implementing a new quarterly intercompany pooling reconciliation and review process to
fully evaluate pooling payable/receivable balances in support of financial reporting for GAAP purposes. The material weakness is considered
remediated as of the end of the period covered by this report as the remediation plan has been implemented and there has been sufficient
time for the Company to conclude through testing that the controls are operating effectively. As the Company's management, under the oversight
of the Audit Committee, continues to evaluate and improve the Company's ICFR, management may decide to take additional measures to address

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control deficiencies or determine to modify, or in appropriate circumstances not to complete, certain of the remediation measures identified.
We can offer no assurance that these initiatives will ultimately have the intended effects.

Changes in Internal Control over Financial Reporting

In the ordinary course of business, we periodically
review our system of internal control over financial reporting to identify opportunities to improve our controls and increase efficiency,
while ensuring that we maintain an effective internal control environment. Except for the identified material weakness above, there have
not been any changes in the Company’s internal control over financial reporting (as such term is defined in Rules 13a-15(f) and
15d-15(f) under the Exchange Act) during the annual period covered by this report that have materially affected, or are reasonably likely
to materially affect, the Company’s internal control over financial reporting.

Item 9B.Other Information

10b5-1 Trading Plans

During the fourth quarter of
2024, none of our directors or executive officers (as defined in Rule 16a-1(f) under the Exchange Act) adopted or terminated any
“Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement” (as each term is defined in Item 408(a)
of Regulation S-K).

Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Not applicable.

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PART III

  Item 10.
  Directors, Executive Officers and Corporate Governance

We incorporate the response to this Item 10 by