Guidelines for Insurers Governance On 28 April 2005 the OECD Council approved the Recommendation on Guidelines for Insurers’ Governance. Guidelines were first endorsed by the OECD Insurance and Private Pensions Committee in collaboration and wide consultation with the 30 member countries’ governmental experts in the insurance sector as well as the insurance and reinsurance industry. These guidelines were also deemed fully compatible and consistent with the OECD Revised Principles on Corporate Governance by its Steering Group in October 2004.