AIA cautions NAIC on US Orsa guidance
Requirements should not be made too prescriptive, says trade association
The American Insurance Association (AIA) is warning that the US Own Risk and Solvency Assessment (Orsa) must not turn into a "check-box" exercise, as insurers begin to take part in a second test run of the assessment.
Twenty-one US insurers have volunteered to take part in the National Association of Insurance Supervisors' (NAIC) Orsa pilot project.
This second pilot project aims to help state regulators improve their guidance to firms on the assessment. Following last year's pilot, the NAIC
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