™Your Policy Risk Impact Agent
9 sections in this chapter.
Mass. Gen. Laws ch. 176V, § 1 Definitions
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Section 1. As used in this chapter, the following words shall, unless the context clearly requires otherwise, have the following meanings:— ''Commissioner'', the commissioner of insurance. ''Insurance group'', for the purpose of conducting an own risk and solvency assessment, ins…
Mass. Gen. Laws ch. 176V, § 2 Risk management framework
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Section 2. 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 mai…
Mass. Gen. Laws ch. 176V, § 3 ORSA requirements
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Section 3. Subject to section 5, an insurer, or the insurance group of which the insurer is a member, shall regularly conduct an ORSA consistent with a process comparable to the ORSA guidance manual. The ORSA shall be conducted annually and at any time when there are significant …
Mass. Gen. Laws ch. 176V, § 4 ORSA summary report or similar report; contents; reports submitted to commissioner of another state or foreign jurisdiction
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Section 4. (a) Upon the request of the commissioner, and no more than annually, an insurer shall submit to the commissioner an ORSA summary report or any combination of reports that together contain the information described in the ORSA guidance manual, applicable to the insurer …
