This bill would provide further for the regulation of insurance by requiring certain insurers to maintain a risk management framework and complete an Own Risk and Solvency Assessment (ORSA) to be filed with the Commissioner of Insurance; by adopting a law substantially similar to the Risk Management and Own Risk and Solvency Assessment Model Act developed by the National Association of Insurance Commissioners.
The bill would provide that documents and other information from an insurer in an assessment would be confidential and privileged except as otherwise provided in the bill.
Read for the first time and referred to the House of Representatives committee on Insurance
Source: Alabama Legislature