Delaware Statutes
§ 8404 — Risk management framework
Delaware·Title 18·Part Suretyship·Ch. 84 RISK MANAGEMENT AND OWN RISK AND SOLVENCY ASSESSMENT (ORSA)
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.
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Legislative History
79 Del. Laws, c. 422, § 1
Nearby Sections
12
§ 8401
Short title§ 8402
Purpose and scope§ 8403
Definitions§ 8405
ORSA requirement§ 8406
ORSA summary report§ 8407
Exemption§ 8409
Confidentiality§ 8410
Sanctions§ 8411
Severability clause§ 8412
Effective date