Hawaii Revised Statutes 431:3D-103 – Risk management framework
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Terms Used In Hawaii Revised Statutes 431:3D-103
- Insurance group: means those insurers and affiliates included within an insurance holding company system as defined in article 11. See Hawaii Revised Statutes 431:3D-102
An insurer shall maintain a risk management framework to assist the insurer with identifying, assessing, monitoring, managing, and reporting its material and relevant risks. This requirement may be satisfied if the insurance group of which the insurer is a member maintains a risk management framework applicable to the operations of the insurer.