As used in ORS 732.650 to 732.689: (1) Corporate governance annual disclosure means a report that an insurer or insurance group files with the Director of the Department of Consumer and Business Services in accordance with ORS 732.680 and 732.683. (2) Insurance group means insurers and affiliates within an insurance holding company system, as defined in ORS 732.548. (3) Insurer has the meaning given that term in ORS 732.548. (4) Own risk and solvency assessment means a confidential internal assessment of the material and relevant risks associated with an insurers or insurance groups business plan and of the sufficiency of capital resources to support the business plan that the insurer or insurance group conducts and that is appropriate for the nature, scale and complexity of the insurer or insurance group. (5) Own Risk and Solvency Assessment Guidance Manual means the Own Risk and Solvency Assessment Guidance Manual that the National Association of Insurance Commissioners develops and adopts and that the Director of the Department of Consumer and Business Services by rule or order designates as guidance and standards for completing an own risk and solvency assessment. (6) Own risk and solvency assessment summary report means a confidential high-level summary of an insurers or insurance groups own risk and solvency assessment. Note: 732.650 to 732.689 were added to and made a part of the Insurance Code by legislative action but were not added to ORS chapter 732 or any series therein. See Preface to Oregon Revised Statutes for further explanation.
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