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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) Purpose.--The purpose of this article is to:
(1) Require an insurer or insurance group to maintain a risk management framework and complete an own risk and solvency assessment (ORSA).
(2) Set forth the requirements for filing an ORSA summary report with the Insurance Department.
(3) Provide for the confidential treatment of the ORSA, the ORSA summary report and other ORSA-related information, which contain trade secrets and other proprietary information that, if made public, could potentially cause the insurer or insurance group competitive harm or disadvantage.
(b) Scope.--The requirements of this article shall apply to all insurers domiciled in this Commonwealth unless exempt under section 2606. 1
Cite this article: FindLaw.com - Pennsylvania Statutes Title 40 P.S. Insurance § 991.2601. Purpose and scope of article - last updated January 01, 2025 | https://codes.findlaw.com/pa/title-40-ps-insurance/pa-st-sect-40-991-2601/
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