304.3-610 Maintenance of risk management framework. (1) 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. (2) The requirement of subsection (1) of this section 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. Effective: January 1, 2015 History: Created 2014 Ky. Acts ch. 119, sec. 3, effective January 1, 2015.
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