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Own Risk and Solvency Assessment (ORSA) - NAIC Model Act

Self-Assess
United States (NAIC)
vModel #505 (adopted 2012, effective 1 January 2015) with the ORSA Guidance Manual as of December 2022
5 domains
9 controls

NAIC Model Act #505 on risk management and the own risk and solvency assessment, adopted in 2012 and effective from 1 January 2015 where enacted, requires US-domiciled insurers above the premium thresholds (500 million dollars for the insurer, 1 billion for its group) to keep a risk management framework, carry out an ORSA at least annually and on significant risk profile change, and file a confidential ORSA Summary Report with a CRO attestation once a year on request or with the lead state. The report follows the NAIC ORSA Guidance Manual (held as of December 2022): Section 1 the ERM framework, Section 2 the assessment of risk exposures in normal and stressed conditions, Section 3 the group assessment of risk capital and the prospective solvency assessment, with further expectations for internationally active insurance groups. The Act makes ORSA material confidential and privileged and lets states set daily penalties for late filing.

Verified

Own Risk and Solvency Assessment (ORSA) - NAIC Model Act is a compliance framework from United States (NAIC) with 5 domains and 9 controls that map to 67 other frameworks. The largest domains are ORSA Model Act #505: insurer duties (4 controls), Section 3 Capital and Solvency (2 controls), ORSA Guidance Manual: IAIG expectations (1 controls). Every control below carries what it requires and what an assessor expects to see.

Maintained by Gerard BlokdykVerified against the published standard Control text last updated

Framework summaries on this platform are interpretations grounded in the published source, for educational and compliance planning purposes. They do not reproduce or replace the official standards. Refer to the authoritative source for the definitive text. Framework names and trademarks belong to their respective organisations.

Framework Domains (5)

ORSA Guidance Manual: IAIG expectations

1 controls
Controls in the ORSA Guidance Manual: IAIG expectations domain of Own Risk and Solvency Assessment (ORSA) - NAIC Model Act: 1 controls
CodeTitle
own-risk-and-solvency-assessment-orsa-naic-model-act::GM-IAIGGuidance Manual: Additional expectations for internationally active insurance groups

ORSA Model Act #505: insurer duties

4 controls
Controls in the ORSA Model Act #505: insurer duties domain of Own Risk and Solvency Assessment (ORSA) - NAIC Model Act: 4 controls
CodeTitle
own-risk-and-solvency-assessment-orsa-naic-model-act::MA-3Section 3: Risk management framework
own-risk-and-solvency-assessment-orsa-naic-model-act::MA-4Section 4: ORSA requirement
own-risk-and-solvency-assessment-orsa-naic-model-act::MA-5Section 5: ORSA Summary Report
own-risk-and-solvency-assessment-orsa-naic-model-act::MA-7Section 7: Contents of ORSA Summary Report

Section 1 ERM Framework

1 controls
Controls in the Section 1 ERM Framework domain of Own Risk and Solvency Assessment (ORSA) - NAIC Model Act: 1 controls
CodeTitle
ORSA-S1Guidance Manual Section 1: Description of the insurer's risk management framework

Section 2 Risk Exposure Assessment

1 controls
Controls in the Section 2 Risk Exposure Assessment domain of Own Risk and Solvency Assessment (ORSA) - NAIC Model Act: 1 controls
CodeTitle
ORSA-S2Guidance Manual Section 2: Insurer's assessment of risk exposures

Section 3 Capital and Solvency

2 controls
Controls in the Section 3 Capital and Solvency domain of Own Risk and Solvency Assessment (ORSA) - NAIC Model Act: 2 controls
CodeTitle
own-risk-and-solvency-assessment-orsa-naic-model-act::GM-3AGuidance Manual Section 3.A: Group assessment of risk capital
own-risk-and-solvency-assessment-orsa-naic-model-act::GM-3BGuidance Manual Section 3.B: Prospective solvency assessment

Your Compliance Coverage

If you comply with Own Risk and Solvency Assessment (ORSA) - NAIC Model Act, you already cover:

Vietnam Law on Cybersecurity (No. 116/2025/QH15)

20%

2 controls mapped

Compare →

Vermont Data Privacy and Online Surveillance Act

20%

2 controls mapped

Compare →

US Gramm-Leach-Bliley Act (GLBA) - Higher Education Safeguards Rule

20%

2 controls mapped

Compare →

+ 64 more: UK Defence Standard 05-138 - Cyber Security for Defence Suppliers (20%), Turkey KVKK (20%)

See all 67 mapped frameworks ↓

Maps to 67 other frameworks

10 total controls
Vietnam Law on Cybersecurity (No. 116/2025/QH15)
2 source controls mapped|1 target controls covered
20%
Vermont Data Privacy and Online Surveillance Act
2 source controls mapped|1 target controls covered
20%
US Gramm-Leach-Bliley Act (GLBA) - Higher Education Safeguards Rule
2 source controls mapped|2 target controls covered
20%
UK Defence Standard 05-138 - Cyber Security for Defence Suppliers
2 source controls mapped|1 target controls covered
20%
Turkey KVKK
2 source controls mapped|1 target controls covered
20%
Privacy Act 2020
2 source controls mapped|1 target controls covered
20%
Privacy Act 1988 (Australia)
2 source controls mapped|1 target controls covered
20%
Personal Data Act (personopplysningsloven)
2 source controls mapped|1 target controls covered
20%
PCAOB AS 2201 - Audit of Internal Control Over Financial Reporting (ICFR)
2 source controls mapped|2 target controls covered
20%
South Korea ISMS-P
2 source controls mapped|2 target controls covered
20%
Annex 11 to EU GMP - Computerised Systems
2 source controls mapped|1 target controls covered
20%
ISO/IEC 27557:2022 - Organisational Privacy Risk Management
2 source controls mapped|7 target controls covered
20%
ISO 26262:2018 - Functional Safety for Road Vehicles
2 source controls mapped|1 target controls covered
20%
NIST Cybersecurity Framework 2.0
2 source controls mapped|5 target controls covered
20%
ISO/IEC 29134:2023
2 source controls mapped|3 target controls covered
20%
ISO/IEC 23894:2023
2 source controls mapped|6 target controls covered
20%
US Consumer Product Safety Act (CPSC) Manufacturer and Importer Duties
2 source controls mapped|1 target controls covered
20%
SQF Code Edition 9 - Safe Quality Food
2 source controls mapped|2 target controls covered
20%
ISO 22000:2018
2 source controls mapped|1 target controls covered
20%
IEC 62443
2 source controls mapped|3 target controls covered
20%
Barbados Data Protection Act 2019
2 source controls mapped|1 target controls covered
20%
AML/CTF Act 2006 (Australia)
2 source controls mapped|2 target controls covered
20%
NIST SP 1800-32
2 source controls mapped|3 target controls covered
20%
ISO/IEC 27019:2024
2 source controls mapped|3 target controls covered
20%
UAE Virtual Asset Regulatory Authority (VARA) Regulations
2 source controls mapped|3 target controls covered
20%
Switzerland New Federal Act on Data Protection (nFADP/nDSG, 2023)
2 source controls mapped|2 target controls covered
20%
EASA Part-IS - Information Security in Aviation
2 source controls mapped|5 target controls covered
20%
API 1164
2 source controls mapped|3 target controls covered
20%
BSI IT-Grundschutz
2 source controls mapped|3 target controls covered
20%
NIST SP 800-53 Rev 5
2 source controls mapped|6 target controls covered
20%
APRA CPS 230 Operational Risk Management
2 source controls mapped|4 target controls covered
20%
Singapore Government Instruction Manual on ICT&SS Management (IM8)
2 source controls mapped|2 target controls covered
20%
ISO 22313:2020 - Guidance on Business Continuity Management Systems
2 source controls mapped|1 target controls covered
20%
Kuwait National Cybersecurity Framework
2 source controls mapped|1 target controls covered
20%
ISO/IEC 27031:2011
2 source controls mapped|1 target controls covered
20%
NFPA 1600 - Standard on Continuity, Emergency, and Crisis Management
2 source controls mapped|1 target controls covered
20%
AWWA Cybersecurity Guidance for the Water Sector (American Water Works Association)
2 source controls mapped|1 target controls covered
20%
ISO/IEC 27003:2017
2 source controls mapped|2 target controls covered
20%
FBI CJIS Security Policy
2 source controls mapped|2 target controls covered
20%
South Korea PIPA
2 source controls mapped|1 target controls covered
20%
ICAO Annex 17 - Aviation Security (AVSEC)
2 source controls mapped|2 target controls covered
20%
French Sapin II Law (Law No. 2016-1691)
2 source controls mapped|2 target controls covered
20%
Federal Decree-Law No. 45 of 2021 on the Protection of Personal Data (UAE PDPL)
2 source controls mapped|1 target controls covered
20%
Bahrain PDPL
2 source controls mapped|1 target controls covered
20%
ISO 27799:2025
2 source controls mapped|1 target controls covered
20%
NIST SP 800-190
2 source controls mapped|1 target controls covered
20%
ASIS SPC.1-2009 - Organizational Resilience Standard
2 source controls mapped|1 target controls covered
20%
ISO/IEC 29147:2018
2 source controls mapped|1 target controls covered
20%
GDPR
2 source controls mapped|1 target controls covered
20%
APRA CPS 234
1 source controls mapped|2 target controls covered
10%
Protective Security Policy Framework (PSPF) Release 2026
1 source controls mapped|1 target controls covered
10%
ISO 22320:2018
1 source controls mapped|1 target controls covered
10%
ISO 20400:2017 - Sustainable Procurement
1 source controls mapped|1 target controls covered
10%
IAIS Insurance Core Principles (ICPs)
1 source controls mapped|2 target controls covered
10%
IEC 60601-1 - Medical Electrical Equipment Safety
1 source controls mapped|3 target controls covered
10%
BS 65000:2014 - Guidance on Organizational Resilience
1 source controls mapped|2 target controls covered
10%
ISO 28001:2007 Supply Chain Security Management
1 source controls mapped|1 target controls covered
10%
AS9100D - Aerospace Quality Management System
1 source controls mapped|1 target controls covered
10%
IEC 62304:2015 Medical Device Software Lifecycle Processes
1 source controls mapped|3 target controls covered
10%
Singapore AI Governance Framework
1 source controls mapped|1 target controls covered
10%
ISO 15189:2022 - Medical Laboratories Requirements for Quality and Competence
1 source controls mapped|1 target controls covered
10%
Aged Care Quality Standards 2019 (repealed edition)
1 source controls mapped|1 target controls covered
10%
FFIEC IT Examination Handbook
1 source controls mapped|3 target controls covered
10%
OSFI B-13
1 source controls mapped|2 target controls covered
10%
NIST Privacy Framework
1 source controls mapped|1 target controls covered
10%
ICH Q10 - Pharmaceutical Quality System
1 source controls mapped|1 target controls covered
10%
FFIEC Cybersecurity Assessment Tool (CAT)
1 source controls mapped|2 target controls covered
10%
Compare Own Risk and Solvency Assessment (ORSA) - NAIC Model Act with Vietnam Law on Cybersecurity (No. 116/2025/QH15)

Coverage is not the same as your position

This page shows what Own Risk and Solvency Assessment (ORSA) - NAIC Model Act overlaps with in general. Where your organisation actually stands, against the standard you are going for and the certifications you already hold, is a different question. Same graph and the same recorded refutations, scoped to you rather than to a pair.

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What is Own Risk and Solvency Assessment (ORSA) - NAIC Model Act and who does it apply to?

Own Risk and Solvency Assessment (ORSA) - NAIC Model Act is a compliance framework from United States (NAIC) with 5 domains and 9 controls. NAIC Model Act #505 on risk management and the own risk and solvency assessment, adopted in 2012 and effective from 1 January 2015 where enacted, requires US-domiciled insurers above the premium thresholds (500 million dollars for the insurer, 1 billion for its group) to keep a risk management framework, carry out an ORSA at least annually and on significant risk profile change, and file a confidential ORSA Summary Report with a CRO attestation once a year on request or with the lead state. The report follows the NAIC ORSA Guidance Manual (held as of December 2022): Section 1 the ERM framework, Section 2 the assessment of risk exposures in normal and stressed conditions, Section 3 the group assessment of risk capital and the prospective solvency assessment, with further expectations for internationally active insurance groups. The Act makes ORSA material confidential and privileged and lets states set daily penalties for late filing. It is used by organisations to establish and maintain compliance with industry standards and regulatory requirements.

What does Own Risk and Solvency Assessment (ORSA) - NAIC Model Act actually require?

Own Risk and Solvency Assessment (ORSA) - NAIC Model Act has 9 controls organised across 5 domains. The largest domains are ORSA Model Act #505: insurer duties (4 controls), Section 3 Capital and Solvency (2 controls), ORSA Guidance Manual: IAIG expectations (1 controls). Each control defines specific requirements that organisations must implement to achieve compliance.

If I already comply with another framework, how much of Own Risk and Solvency Assessment (ORSA) - NAIC Model Act do I already cover?

Own Risk and Solvency Assessment (ORSA) - NAIC Model Act maps to 67 other compliance frameworks. The top mapping partners are Vietnam Law on Cybersecurity (No. 116/2025/QH15) (20% coverage), Vermont Data Privacy and Online Surveillance Act (20% coverage), US Gramm-Leach-Bliley Act (GLBA) - Higher Education Safeguards Rule (20% coverage). Use our comparison tool to explore control-level mappings between frameworks.

How do I implement Own Risk and Solvency Assessment (ORSA) - NAIC Model Act?

Start your Own Risk and Solvency Assessment (ORSA) - NAIC Model Act compliance journey by running a self-assessment on our platform to identify your current compliance posture. Our AI advisory can answer specific questions about Own Risk and Solvency Assessment (ORSA) - NAIC Model Act requirements, and cross-framework mapping helps you leverage existing controls from other frameworks you may already comply with. Create a free account to access all 9 controls and track your progress.

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