Own Risk and Solvency Assessment (ORSA) - NAIC Model Act
ORSA Model Act #505: insurer duties

Own Risk and Solvency Assessment (ORSA) - NAIC Model Act MA-5: Section 5: ORSA Summary Report

What does MA-5 require?

When the commissioner asks, and no more than once a year, the insurer submits its ORSA Summary Report, or a set of reports, holding the information the Guidance Manual describes for the insurer or its group; a group member must file regardless of any request where the commissioner is the group's lead state under the Financial Analysis Handbook, and should tell the commissioner when it expects to file. The report carries the signature of the chief risk officer, or the executive overseeing enterprise risk management, attesting to the best of their belief that the insurer applies the process described and that the board or its committee has received a copy. A recent, substantially similar report filed with another state or a foreign supervisor may be used if its content is comparable, with an English translation where needed.

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