§ 32-107

Maryland § 32-107

• Jurisdiction: Maryland
• Article gin: Insurance
• Title: 32

Text

(a) The ORSA Summary Report shall be prepared consistent with the ORSA Guidance Manual.

(b) Documentation and supporting information for the ORSA Summary Report shall be maintained and made available on examination or request of the Commissioner.

(c) (1) The Commissioner shall review the ORSA Summary Report.

(2) The Commissioner shall make any requests for additional information using procedures similar to those currently used in the analysis and examination of multi–state or global carriers and insurance groups.

(d) The ORSA Summary Report shall include a short summary of material changes and updates to the ORSA Summary Report since the prior year.

(e) The Commissioner may retain, at the carrier’s expense, third–party consultants, including attorneys, actuaries, accountants, and other experts not otherwise a part of the Administration’s staff as may be reasonably necessary to assist the Administration in reviewing the carrier’s risk management framework, ORSA, ORSA Summary Report, or compliance with this title.