(a) Subject to § 32–106 of this title, a carrier, or the insurance group of which the carrier is a member, shall regularly conduct an ORSA consistent with the process outlined in the ORSA Guidance Manual.
(b) The ORSA shall be conducted:
(1) regularly, but not less than once each year; and
(2) at any time when there is a significant change to the risk profile of the carrier or the insurance group of which the carrier is a member.
Structure Maryland Statutes
Title 32 - Risk Management and Own Risk and Solvency Assessment Act
Section 32-102 - Purposes; Applicability
Section 32-103 - Maintenance of Risk Management Framework
Section 32-104 - Orsa to Be Conducted
Section 32-105 - Summary Report or Reports
Section 32-107 - Orsa Summary Report
Section 32-108 - Confidentiality Requirements