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At the heart of the prudential Solvency II directive, the Own Risk and Solvency Assessment (ORSA) is defined as a set of processes constituting a tool for decision-making and strategic analysis. It aims to assess, in a continuous and prospective way, the overall solvency needs related to the specific risk profile of the insurance company. Risk Management and Own Risk and Solvency Assessment is a similar regulation that has been enacted in the USA by the NAIC.〔http://www.naic.org/Releases/2012_docs/naic_statement_adoption_rmorsa_model_act_ag38.htm〕 Other jurisdictions are enacting similar regulations to comply with the Insurance Core Principle 16 enacted by the IAIS.〔http://www.iaisweb.org/view/element_href.cfm?src=1/16689.pdf from the International Association of Insurance Supervisors〕 ==Context== The second pillar of Solvency II plans to complete the quantitative capital requirements with quality requirements and a global and appropriate risk management system. The reform provides measures on governance, internal control and internal audit in order to ensure sound and prudent management practices from insurers. Impacts in terms of risk and solvency should supply into upstream strategic decisions. The internal assessment process of risks and solvency, known as the ORSA, is the centerpiece of this plan. In an operational way, the ORSA is part of global process of Enterprise Risk Management (ERM). It is part of a cyclical and iterative system involving the board of directors, senior management, internal audit, internal control and all employees of the company. It aims to provide a reasonable insurance on compliance with the strategy of the company against risks. The ORSA is voluntarily defined broadly by the regulation to encourage insurers to question themselves on the framework of an internal system dedicated to control and risk management. It must in all cases be succinct, easy to update and respect the principles of materiality and proportionality. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Own Risk and Solvency Assessment」の詳細全文を読む スポンサード リンク
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