Massachusetts General Laws
Chapter 176v - Own Risk and Solvency Assessment
Section 2 - Risk Management Framework

Section 2. An insurer shall maintain a risk management framework to assist the insurer with identifying, assessing, monitoring, managing and reporting on its material and relevant risks. This requirement may be satisfied if the insurance group of which the insurer is a member maintains a risk management framework applicable to the operations of the insurer.

Structure Massachusetts General Laws

Massachusetts General Laws

Part I - Administration of the Government

Title XXII - Corporations

Chapter 176v - Own Risk and Solvency Assessment

Section 1 - Definitions

Section 2 - Risk Management Framework

Section 3 - Orsa Requirements

Section 4 - Orsa Summary Report or Similar Report; Contents; Reports Submitted to Commissioner of Another State or Foreign Jurisdiction

Section 5 - Exemption From Requirements of Chapter; Partial Exemption; Application for Waiver; Loss of Exempted Status

Section 6 - Report to Be Consistent With Orsa Guidance Manual; Examination of Supporting Documents; Review

Section 7 - Proprietary Nature of Reports and Documents; Confidentiality; Testimony Regarding Reports in Private Civil Actions; Sharing of Information

Section 8 - Failure to Timely File Orsa Summary Report; Penalty

Section 9 - Rulemaking