Pennsylvania Statutes Title 40 P.S. Insurance § 991.2606. Exemption

(1) the insurer has annual direct written and unaffiliated assumed premium, including international direct and assumed premium but excluding premiums reinsured with the Federal Crop Insurance Corporation and Federal Flood Program, less than $500,000,000; and

(2) the insurer is a member of an insurance group, the insurance group has annual direct written and unaffiliated assumed premium, including international direct and assumed premium but excluding premiums reinsured with the Federal Crop Insurance Corporation and Federal Flood Program, less than $1,000,000,000.

(1) The type and volume of business written.

(2) Ownership and organizational structure.

(3) Material reduction in risk or risk exposures.

(4) Any other factor the commissioner determines to be relevant to whether a waiver should be granted.

(1) The commissioner may require that an insurer maintain a risk management framework, conduct an ORSA and file an ORSA summary report based on unique circumstances, including the type and volume of business written, ownership and organizational structure, Federal agency requests and international supervisor requests. If the commissioner requires an insurer to maintain a risk management framework, conduct an ORSA and file an ORSA summary report under this paragraph, the insurer shall have one year after receiving written notice to comply with the requirement.

(2) The commissioner may require that an insurer maintain a risk management framework, conduct an ORSA and file an ORSA summary report if the insurer:

(3) If an insurer exempt under subsection (a) no longer qualifies for that exemption due to changes in premium as reflected in the insurer's most recent annual statement or in the most recent annual statements of the insurers within the insurance group of which the insurer is a member, the insurer shall have one year after the year the threshold is exceeded to comply with the requirements of this article.