New York partner Mike Byrne participated in a panel discussion on “Risk Management and Own Risk Solvency Assessment Model Act (RMORSA)” at the SOFE conference on Tuesday, July 23, at the Red Rock Resort in Nevada. The RMORSA originated from new international capital standards and will provide U.S. insurance regulators with a new tool to evaluate insurer solvency, beyond risk based capital measures.
The audience consisted of more than 100 state insurance department examiners and company and consultant financial experts. The panel was moderated by Robert Kasinow, Examination Resources, LLC, and also included Vicki Yamasaki, Chief Risk Officer of OneAmerica Financial Partners, and David Sherwood, a principal at KPMG who heads their insurance advisory practice.
The panel explored industry insights in creating an ORSA policy and developing the ORSA summary report.