Your ORSA filing
Is it ready?
Review key themes from the National Association of Insurance Commissioners 2013 Own Risk and Solvency Assessment (ORSA) pilot that may be helpful to insurers in developing their submissions.
Preparing your ORSA report
Described as a game-changer by regulators, the Own Risk and Solvency Assessment (ORSA) will set out an insurer's own view of the risks it faces and the capital required to address those risks in stressed environments and to deliver its strategic business plan.
In advance of the January 1, 2015 deadline the National Association of Insurance Commissioners ORSA Subgroup has undertaken a series of ORSA pilot programs providing insurers with an opportunity to voluntarily submit their draft ORSA filing and receive regulator feedback before the ORSA goes live.
The Subgroup provided a list of 29 observations that will not be included in the ORSA Guidance Manual, but may be helpful to insurers in developing their ORSA Summary Reports.
Your ORSA filing: Is it ready? covers the following topics:
- 2013 pilot results
- Summary observations
- ORSA Structure
- Outstanding questions
- Updates on ORSA guidance
- Some key challenges that remain