Kansas Statutes 40-6003. Same; risk management framework required
Current as of: 2023 | Check for updates
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Terms Used In Kansas Statutes 40-6003
- Insurance group: means those insurers and affiliates included within an insurance holding company system as defined in Kan. See Kansas Statutes 40-6002
- Insurer: has the meaning ascribed to it in Kan. See Kansas Statutes 40-6002
An insurer shall maintain a risk management framework to assist the insurer with identifying, assessing, monitoring, managing and reporting on 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.