Per NAIC ORSA Guidance Manual Section 2: assessment of risk exposure under normal and stressed conditions. Requires Quantitative Risk Assessment using actuarial + economic + statistical methods for material risk categories (underwriting + market + credit + liquidity + operational + strategic risks); Qualitative Risk Assessment for risks not readily quantifiable; Stress Testing and Scenario Analysis covering severe but plausible scenarios + reverse stress testing; assessment of risk exposure changes over time; Liquidity Risk Assessment per applicable guidance; and Operational Risk in ORSA including key risks + controls + capital. Requirements include (a) maintain documented risk taxonomy + materiality criteria + (b) operate quantitative methods for material risks with appropriate methodology + (c) operate qualitative assessment for non-quantifiable risks + (d) conduct stress testing including reverse + scenario + sensitivity testing + (e) assess liquidity + operational risks per guidance + (f) document methodology + assumptions + limitations.
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.