§ 22:691.31 — Purpose and scope

Louisiana § 22:691.31

• Jurisdiction: Louisiana
• Title 22: Insurance

Text

SUBPART G-2. RISK MANAGEMENT AND OWN RISK AND SOLVENCY ASSESSMENT
§691.31. Purpose and scope
A. The purpose of this Subpart is to provide the requirements for maintaining a risk
management framework and completing an own risk and solvency assessment (ORSA) and
the guidance and instructions for filing an ORSA summary report with the commissioner.
B. The requirements of this Subpart shall apply to all domestic insurers unless
exempt pursuant to R.S. 22:691.36.
C. The legislature finds and declares that the ORSA summary report will contain
confidential and sensitive information related to the identification of risk material and
relevant to the insurer or insurance group filing the report. Public disclosure of the
information in the ORSA summary report will cause harm to and competitive disadvantage
for the insurer or insurance group. The legislature intends that the ORSA summary report be
filed with the commissioner as a confidential document, shared only as stated in this Subpart
to assist in the performance of the commissioner's duties, and exempted from public
disclosure.

Legislative History

Acts 2015, No. 196, §1, eff. Jan. 1, 2016.