(a) The own risk and solvency assessment summary report shall be prepared consistent with the Own Risk and Solvency Assessment Guidance Manual and subject to the requirements of subsection (b). Documentation and supporting information shall be maintained and made available upon examination or upon request of the commissioner.

Terms Used In Hawaii Revised Statutes 431:3D-107

  • Own risk and solvency assessment: means a confidential internal assessment, appropriate to the nature, scale, and complexity of an insurer or insurance group and 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. See Hawaii Revised Statutes 431:3D-102
  • Own Risk and Solvency Assessment Guidance Manual: means the Own Risk and Solvency Assessment Guidance Manual as developed and adopted by the National Association of Insurance Commissioners and as amended from time to time. See Hawaii Revised Statutes 431:3D-102
  • Own risk and solvency assessment summary report: means a confidential, high-level summary of an insurer or insurance group's own risk and solvency assessment. See Hawaii Revised Statutes 431:3D-102
(b) The review of the own risk and solvency assessment summary report and any additional requests for information shall be made using similar procedures currently used in the analysis and examination of multi-state or global insurers and insurance groups.

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