The National Association of Insurance Commissioners (NAIC) has
adopted legislation outlining the Own Risk and Solvency Assessment
(ORSA) for US insurers, a key element in modernising regulation in
The move, announced on 12 September, will bring US regulations more in line with Pillar II of the European Solvency II regime, according to PricewaterhouseCoopers (PwC) partner Charles Garnsworthy.
Each state will now have to adopt the Risk Management and ORSA (RMORSA) model into law to become effective from 1...
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