IAIS Insurance Core Principles (ICPs)

ICP 16: Enterprise risk management for solvency purposes – IAIS Insurance Core Principles (ICPs)

IAIS Insurance Core Principles (ICPs) 16.11: 16.11 Board and Senior Management responsible for the ORSA

The insurer's Board and Senior Management are responsible for the ORSA.

Maintained by Gerard BlokdykControl text last updated 21 May 2026

Other controls in ICP 16: Enterprise risk management for solvency purposes – IAIS Insurance Core Principles (ICPs)

16.1 16.1 ERM identifies all reasonably foreseeable material risks and their interdependencies
16.10 16.10 A regular own risk and solvency assessment (ORSA)
16.12 16.12 ORSA scope: all material risks, the link between risk and financial resources, and where necessary macroeconomic and counterparty stress
16.13 16.13 ORSA determines needed financial resources; risk actions consider economic and regulatory capital; capital quality and adequacy assessed
16.14 16.14 Continuity analysis over a longer horizon with projections of future financial position and capital compliance
16.15 16.15 Recovery planning: options evaluated in advance; regular assessment of who needs a plan; plans for systemic or critical insurers kept current
16.16 16.16 Supervisory review of the ERM framework and ORSA, with strengthening required where necessary
16.2 16.2 Quantification under a wide range of techniques and, as necessary, total-balance-sheet stress testing

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