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§ 991.2601. Purpose and scope of article

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 40 P.S. InsuranceEffective: January 1, 2015

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 40 P.S. Insurance (Refs & Annos)
Chapter 2. Insurance Companies (Refs & Annos)
Article XXVI. Risk Management and Own Risk Solvency Assessment
Effective: January 1, 2015
40 P.S. § 991.2601
§ 991.2601. Purpose and scope of article
Currentness
(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 2606.1

Credits

1921, May 17, P.L. 682, No. 284, art. XXVI, § 2601, added 2013, Oct. 25, P.L. 656, No. 78, § 2, effective Jan. 1, 2015.

Footnotes

1
40 P.S. § 991.2606.
40 P.S. § 991.2601, PA ST 40 P.S. § 991.2601
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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