(a) Subject to § 32–106 of this title, a carrier, or the insurance group of which the carrier is a member, shall regularly conduct an ORSA consistent with the process outlined in the ORSA Guidance Manual.
(b) The ORSA shall be conducted:
(1) regularly, but not less than once each year; and
(2) at any time when there is a significant change to the risk profile of the carrier or the insurance group of which the carrier is a member.
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