™Your Policy Risk Impact Agent
93 chapters · 1,453 sections in this title.
Ala. Code § 27-29A-1 Purpose and Scope
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(a) The purpose of this chapter is to provide the requirements for maintaining a risk management framework and completing an Own Risk and Solvency Assessment (ORSA) and provide guidance and instructions for filing an ORSA Summary Report with the Commissioner of Insurance. (b) The…
Ala. Code § 27-29A-10 Operative Date
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The first filing of the ORSA Summary Report shall be in the year commencing on January 1, 2017, pursuant to Section 27-29A-5. (Act 2016-386, §1.)
Ala. Code § 27-29A-2 Definitions
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For purposes of this chapter, the following definitions shall apply: (1) INSURANCE GROUP. Those insurers and affiliates included within an insurance holding company system as defined in Chapter 29. (2) INSURER. As set forth in Section 27-1-2, except that it shall not include agen…
Ala. Code § 27-29A-3 Risk Management Framework
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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 r…