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<section article="gin" article_name="Insurance" number="32-101" title_number="32" title_name="Risk Management and Own Risk and Solvency Assessment Act" subtitle_number="1">
  <level label="a">
    <text>In this title the following words have the meanings indicated.</text>
  </level>
  <level label="b">
    <text>“Carrier” means:</text>
    <level label="1">
      <text>an insurer;</text>
    </level>
    <level label="2">
      <text>a nonprofit health service plan;</text>
    </level>
    <level label="3">
      <text>a health maintenance organization; or</text>
    </level>
    <level label="4">
      <text>a dental plan organization.</text>
    </level>
  </level>
  <level label="c">
    <text>“Insurance group” means, for the purpose of conducting an ORSA, those carriers and affiliates that are included within an insurance holding company system as defined in § 7–101 of this article.</text>
  </level>
  <level label="d">
    <text>“NAIC” means the National Association of Insurance Commissioners.</text>
  </level>
  <level label="e">
    <text>“Own Risk and Solvency Assessment” or “ORSA” means a confidential internal assessment, appropriate to the nature, scale, and complexity of a carrier or insurance group, that the carrier or insurance group conducts, of the material and relevant risks associated with the carrier’s or insurance group’s current business plan and the sufficiency of capital resources to support those risks.</text>
  </level>
  <level label="f">
    <text>“ORSA Guidance Manual” means the current version of the Own Risk and Solvency Assessment Guidance Manual developed and adopted by the National Association of Insurance Commissioners.</text>
  </level>
  <level label="g">
    <text>“ORSA–related information” means any document, material, or other information related to an ORSA, an ORSA Summary Report, or a risk management framework of a carrier or insurance group.</text>
  </level>
  <level label="h">
    <text>“ORSA Summary Report” means a confidential high–level summary of the ORSA of a carrier or insurance group.</text>
  </level>
  <level label="i">
    <text>“Supervisory college” has the meaning stated in § 2–209.1 of this article.</text>
  </level>
</section>
