Indiana Code 27-1-23.5-5. “ORSA”

Sec. 5. As used in this chapter, “ORSA” or “own risk and solvency assessment” means a confidential internal assessment:

(1) that is:

capital: means the aggregate amount paid in on the shares of capital stock of a corporation issued and outstanding. See Indiana Code 27-1-2-3
Insurance: means a contract of insurance or an agreement by which one (1) party, for a consideration, promises to pay money or its equivalent or to do an act valuable to the insured upon the destruction, loss or injury of something in which the other party has a pecuniary interest, or in consideration of a price paid, adequate to the risk, becomes security to the other against loss by certain specified risks; to grant indemnity or security against loss for a consideration. See Indiana Code 27-1-2-3
insurer: means a company, firm, partnership, association, order, society or system making any kind or kinds of insurance and shall include associations operating as Lloyds, reciprocal or inter-insurers, or individual underwriters. See Indiana Code 27-1-2-3

(A) appropriate to the nature, scale, and complexity of; and

(B) conducted by;

an insurer or insurance group; and

(2) of the:

(A) material and relevant risks associated with the insurer or insurance group’s current business plan; and

(B) sufficiency of capital resources to support the risks described in clause (A).

As added by P.L.129-2014, SEC.8.