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The National Association of Insurance Commissioner’s newly adopted Risk Management and Own Risk and Solvency Assessment (RMORSA) model act signifies a fundamental shift in the regulatory scrutiny of the insurance industry’s enterprise risk management (ERM) and capital-management practices. The act, which each jurisdiction now needs to adopt into state law, requires insurers to maintain a comprehensive risk-management framework that is embedded into company operations and covers current and prospective solvency positions under severe stressed scenarios.


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