As part of the Enterprise Risk Management Framework, Pillar 2 requires firms to undertake an Own Risk and 
Solvency Assessment (ORSA) to demonstrate “sound and prudent management of the business” and assess overall solvency needs. This article focusses on the impact of ORSA, the guidance to date, where companies currently stand and the key issues and challenges they face. Adhering to this aspect of Solvency II will mean significant and cultural change for many insurance companies. Click here to read full article.
