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 Code of Virginia (Last Updated:July 28, 2020)
 TITLE 38.2. Insurance
 CHAPTER 13. Reports, Reserves and Examinations, Insurance Holding Companies, Reinsurance Intermediaries, and Managing General Agents
 ARTICLE 5.1. Risk Management Framework; Own Risk and Solvency Assessments
 SECTION 38.2-1334.4. Risk management framework

  SECTION 38.2-1334.4. Risk management framework  

An insurer shall maintain a risk management framework to assist the insurer with identifying, assessing, monitoring, managing, and reporting on its material and relevant risks. This requirement may be satisfied if the insurance group of which the insurer is a member maintains a risk management framework applicable to the operations of the insurer.

2014, c. 248 .