On July 13th, 2015, the NAIC issued the feedback document to the insurance industry following the completion of the 2014 ORSA Pilot Project that took place during the period October 2014 through June 2015. This was the third and last ORSA pilot.
This eight-page document provides additional practical guidance to insurance groups getting ready to submit their first ORSA summary report to their domiciliary regulator later this year. You can find the document on the NAIC Group Solvency Issues (E) Working Group web page.
During the webinar, the NAIC will share key results from the pilot project as presented in this document. In particular, the NAIC will comment on the attributes of a "good" ORSA summary report for each of the report’s three sections, as well as opportunities for improvement as identified by the state insurance regulators that participated in the pilot exercise. Commentary will also be provided with regard to both the presentation and content of the report.
This webinar is targeted to those in industry and regulation who are directly involved in the preparation or review of an ORSA report.
At the end of the webinar, participants will be able to
Please review the NAIC Own Risk and Solvency Assessment (ORSA) Guidance Manual prior to viewing the webinar.
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