The following words and phrases when used in this article shall have the meanings given to them in this section unless the context clearly indicates otherwise:

“Commissioner.” The Insurance Commissioner of the Commonwealth.

“Department.” The Insurance Department of the Commonwealth.

“Insurance group.” The insurers and affiliates included within an insurance holding company system as defined in section 1401.¹

“Insurer.” Any fraternal benefit society, health maintenance organization, preferred provider organization, company, association, exchange, hospital plan corporation as defined in and subject to 40 Pa.C.S. Ch. 61 (relating to hospital plan corporations) or professional health services plan corporation subject to 40 Pa.C.S. Ch. 63 (relating to professional health services plan corporations), authorized by the Insurance Commissioner to transact the business of insurance in this Commonwealth except that the term shall not include:

“NAIC.” The National Association of Insurance Commissioners or successor organization and its affiliates and subsidiaries.

“ORSA guidance manual.” The current version of the Own Risk and Solvency Assessment Guidance Manual developed and adopted by the NAIC and as amended. A change in the ORSA guidance manual will be effective on January 1 following the calendar year in which the change was adopted by the NAIC.

“ORSA-related information.” The ORSA, ORSA summary report, risk management framework or any documents, materials or other information related to an insurer or insurance group's ORSA, ORSA summary or risk management framework.

“ORSA summary report.” The confidential high-level summary of an insurer or insurance group's ORSA.

“Own risk and solvency assessment” or “ORSA.” A confidential internal assessment, appropriate to the nature, scale and complexity of an insurer or insurance group, conducted by that insurer or insurance group, of the material and relevant risks associated with the insurer or insurance group's current business plan and the sufficiency of capital resources to support those risks.