1. (a) Each carrier subject to this title shall maintain a risk management framework for identifying, assessing, monitoring, managing, and reporting its material and relevant risks.
2. (b) A carrier may satisfy this requirement if the insurance group of which the carrier is a member maintains a risk management framework that applies to the operations of the carrier.

Added by Acts 2017, c. 36, § 1, eff. Jan. 1, 2018.