Regulatory Alerts2017-12-31
Own Risk and Solvency Assessment
The Office of the Superintendent of Financial Institutions issued this guideline to establish expectations for federally regulated insurers conducting their Own Risk and Solvency Assessment. Insurers must implement a dynamic, forward-looking process that proportionately identifies material risks, determines own capital needs, and sets Internal Targets aligned with their risk appetite and strategic planning. The framework mandates robust integration with enterprise risk management, regular stress and scenario testing, structured senior management oversight, and periodic objective reviews to ensure ongoing capital adequacy and supervisory compliance.
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