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With regulatory requirements intensifying and endless technological advances, senior risk management executives for property/casualty insurers face a complex and shifting landscape. As a result, many ...
Have you ever been skydiving? If, like me, you're a newbie with a healthy fear of jumping out of an airplane thousands of feet above the ground, the trick is to never quite believe it's going to ...
If U.S. regulators graded insurers on their ORSA reports, the report cards might say "incomplete" or "needs improvement," a representative of the National Association of Insurance Commissioners ...
Solvency regulation has entered a new phase in the insurance industry as in-depth, forward-looking insurer self-assessments replace reviews of past balance sheets in states where Own Risk and ...
2015 marks the beginning of a new era of regulatory requirements for the insurance industry as many states have now adopted the Risk Management and Own Risk and Solvency Assessment ('ORSA') Model Act ...
In a recent Own Risk and Solvency Assessment webinar conducted by FTI Consulting, more than 50 percent of attendees stated they had not adequately defined risk appetite as part of their ORSA ...
The National Association of Insurance Commissioners voted to implement an addition to U.S. insurance regulation known as the Own Risk and Solvency Assessment Model Act back in 2011, but it is this ...
As insurers continue to evolve their enterprise risk management systems and controls, and regulators take a closer look, one aspect continues to be clear: Capital is king. A recent study by Standard ...
After much anticipation, Own Risk and Solvency Assessment (ORSA) initiatives are now underway worldwide—taking effect in 2014 in Canada and 2015 in the United States, with similar initiatives ...
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