Section 2601. Purpose and scope of article.
(a) Purpose.--The purpose of this article is to:
(1) Require an insurer or insurance group to maintain a risk management framework and complete an own risk and solvency assessment (ORSA).
(2) Set forth the requirements for filing an ORSA summary report with the Insurance Department.
(3) Provide for the confidential treatment of the ORSA, the ORSA summary report and other ORSA-related information, which contain trade secrets and other proprietary information that, if made public, could potentially cause the insurer or insurance group competitive harm or disadvantage.
(b) Scope.--The requirements of this article shall apply to all insurers domiciled in this Commonwealth unless exempt under section 2606.
(2601 added Oct. 25, 2013, P.L.656, No.78)