Solvency, GRC and surviving storms at The Hartford
US insurer's op risk head Kay Rahardjo discusses solvency regulations and the lessons learned from 2012's superstorm
Major insurers, wherever they operate, are preparing for massive regulatory change during the next 18 months. While EU insurers wait patiently for a final version of guidelines for their Solvency II preparatory measures – due to be released in October 2013 – the US is carrying out its second round of pilot tests of the Own Risk and Solvency Assessment (Orsa) procedures. A total of 21 US insurers are taking part in the tests run by the US National Association of Insurance Supervisors (NAIC). The
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