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<section article="gin" article_name="Insurance" number="32-105" title_number="32" title_name="Risk Management and Own Risk and Solvency Assessment Act" subtitle_number="1">
  <level label="a">
    <text>On request of the Commissioner, but not more than once each year,  a carrier shall submit to the Commissioner an ORSA Summary Report or a combination of reports that together contain the information described in the ORSA Guidance Manual, applicable to the  carrier or the insurance group of which the carrier is a member.</text>
  </level>
  <level label="b">
    <text>Notwithstanding any request from the Commissioner, if the  carrier is a member of an insurance group, the  carrier shall submit the report required by this section if the Commissioner is the lead state commissioner of the insurance group as determined by the procedures in the Financial Analysis Handbook adopted by the NAIC.</text>
  </level>
  <level label="c">
    <text>The  carrier shall:</text>
    <level label="1">
      <text>determine the most appropriate date of the filing based on the  carrier’s internal strategic planning processes; and</text>
    </level>
    <level label="2">
      <text>notify the Commissioner of the anticipated date of the filing.</text>
    </level>
  </level>
  <level label="d">
    <text>The  carrier’s or insurance group’s chief risk officer or other executive with responsibility for the oversight of the  carrier’s enterprise risk management process shall sign the report and attest to the best of that individual’s belief and knowledge that:</text>
    <level label="1">
      <text>the  carrier applies the enterprise risk management process described in the ORSA Summary Report; and</text>
    </level>
    <level label="2">
      <text>a copy of the report has been provided to the  carrier’s board of directors or the appropriate committee of the board.</text>
    </level>
  </level>
  <level label="e">
    <text>A carrier may comply with subsection (a) of this section by providing the most recent and substantially similar report that the  carrier or another member of an insurance group of which the  carrier is a member provided to the commissioner of another state or to a supervisor or regulator of a foreign jurisdiction if that report provides information that is comparable to the information described in the ORSA Guidance Manual.</text>
  </level>
  <level label="f">
    <text>Any report that is provided under subsection (e) of this section in a language other than English must be accompanied by a translation of that report into English.</text>
  </level>
</section>
