{"data":{"id":"us-ky/krs-304.3-620","jurisdiction":"us-ky","citation":"KRS 304.3-620","heading":"Own Risk and Solvency Assessment Summary Report or combination of","body":"reports -- When required -- Contents -- Signature.\n(1) (a) Upon the commissioner's request, and no more than once each year, an insurer\nshall submit to the commissioner an ORSA Summ ary Report or any\ncombination of reports that together contain the information described in the\nORSA Guidance Manual applicable to the insurer or the insurance group of\nwhich the insurer is a member.\n(b) Notwithstanding any request from the commissioner, i f the insurer is a\nmember of an insurance group, the insurer shall submit the report required by\nparagraph (a) of this subsection if the commissioner is the lead state\ncommissioner of the insurance group, as determined by the procedures within\nthe Financial Analysis Handbook adopted by the NAIC.\n(2) The report shall include the signature of the insurer's or insurance group's chief risk\nofficer or other executive having responsibility for the oversight of the insurer's\nenterprise risk management process, att esting to the best of his or her belief and\nknowledge that the insurer applies the enterprise risk management process\ndescribed in the ORSA Summary Report and that a copy of the report has been\nprovided to the insurer's board of directors or the appropriate committee thereof.\n(3) An insurer may comply with subsection (1) of this section by providing the most\nrecent and substantially similar report, provided by the insurer or another member\nof an insurance group of which the insurer is a member, to the commi ssioner of\ninsurance of another state or to a supervisor or regulator of a foreign jurisdiction, if\nthe report provides information that is comparable to the information described in\nthe ORSA Guidance Manual. Any such report in a language other than English shall\nbe accompanied by a translation of the report into the English language.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=43952","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:38Z","sha256":"c10aa988baa15788a833eb048112379d795853ab6f5b3efd2249da9d7b8de8c5","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.3-615","next":"us-ky/krs-304.3-625"},"notice":"GroundRules: Original legal text. Not legal advice."}