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Orsa reports and third-party relationships at MassMutual

Brad Hoffman, head of operational risk at MassMutual, discusses his concerns about disclosing information in the Orsa and the risks the assessment process can pose, as well as the need for an exit strategy where third-party relationships are concerned

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Brad Hoffman, MassMutual

The own risk and solvency assessment (Orsa) in the US continues to ignite debate in the insurance sector. Following the second Orsa pilot project, the National Association of Insurance Commissioners (NAIC) issued feedback in March of this year telling US insurers that their Orsa reports need to be more transparent.

At the same time, commentators have repeatedly pointed out that the Orsa guidance

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