US Orsa marches on
US Orsa marches on
The approval of the Risk Management and Own Risk and Solvency Assessment Model Act by the National Association of Insurance Commissioners (NAIC) in September this year moves the US’s Own Risk and Solvency Assessment (Orsa) one step closer to implementation.
Once enacted into law by individual states, all US insurers will be required to file an Orsa summary report annually with their state commissioner from January 1, 2015. The Orsa will require insurers to undertake a self-assessment of the
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