<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><title></title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.sea5d7ce6-ed84-4cd7-9da5-6000376532b8P0 { margin-top: 0; margin-bottom: 0; margin-left: 0; margin-right: 0; text-indent: 0.00in; text-align: justify; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; } span.sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0 { color: #000000; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0-000000 { color: #0000FF; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0-000001 { color: #000000; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sea5d7ce6-ed84-4cd7-9da5-6000376532b8000002 { color: #000000; background: white; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0-000003 { color: #0000FF; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sea5d7ce6-ed84-4cd7-9da5-6000376532b8C2 { color: #0000FF; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; text-decoration: underline; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8P0"><span xml:space="preserve" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0">    </span><a href="https://sdlegislature.gov/Rules?Rule=20:06:09:48"><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0-000000">20</span><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0-000000">:</span><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0-000000">06</span><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0-000000">:</span><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0-000000">09</span><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0-000000">:</span><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0-000000">48</span></a><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0-000001">.  ORSA guidance manual.</span><span xml:space="preserve" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0"> The own risk and solvency assessment (ORSA)</span><span xml:space="preserve" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0"> </span><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0">shall be conducted in accordance with the standards and requirements set forth in the National</span><span xml:space="preserve" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0"> </span><span xml:space="preserve" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0">Association of Insurance Commissioners </span><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0">Own Risk and Solvency Assessment (ORSA)</span><span xml:space="preserve" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0"> Guidance Manual, 20</span><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0">22</span><span xml:space="preserve" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0"> edition.</span></p><p dir="ltr" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8P0"><span xml:space="preserve" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8000002"> </span></p><p dir="ltr" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8P0"><span xml:space="preserve" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0">    </span><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0-000001">Source:</span><span xml:space="preserve" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0"> </span><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0">44</span><span xml:space="preserve" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0"> SDR </span><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0">71</span><span xml:space="preserve" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0">, effective </span><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0">October 23, 2017; 45 SDR 45, effective October 10, 2018; 50 SDR 13, effective August 10, 2023</span><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0">.</span></p><p dir="ltr" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8P0"><span xml:space="preserve" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0">    </span><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0-000001">General Authority:</span><span xml:space="preserve" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=58-5A-93"><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0-000003">58-5A-93</span></a><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0">.</span></p><p dir="ltr" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8P0"><span xml:space="preserve" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0">    </span><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0-000001">Law Implemented:</span><span xml:space="preserve" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=58-5A-1"><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0-000003">58-5A-</span><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0-000003">1</span></a><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0">(</span><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0">10</span><span xml:space="preserve" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0">), </span><a href="https://sdlegislature.gov/Statutes?Statute=58-5A-82"><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0-000003">58-5A-82</span></a><span xml:space="preserve" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0"> to </span><a href="https://sdlegislature.gov/Statutes?Statute=58-5A-84"><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0-000003">58-5A-84</span></a><span xml:space="preserve" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0">, inclusive, </span><a href="https://sdlegislature.gov/Statutes?Statute=58-5A-93"><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0-000003">58-5A-93</span></a><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0">.</span></p><p dir="ltr" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8P0"><span xml:space="preserve" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8000002"> </span></p><p dir="ltr" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8P0"><span xml:space="preserve" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0">    </span><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0-000001">Reference: National Association of Insurance Commissioners Own Risk and Solvency Assessment (ORSA) Guidance Manual</span><span xml:space="preserve" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0">, 2022 edition. Copies may be obtained from NAIC, 1100 Walnut Street, Ste. 1500, Kansas City, MO 64106-2197, (816) 783-8300; </span><a href="https://content.naic.org/"><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C2">http://naic.org</span></a><span class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8C0">. Cost: $0.</span></p><p dir="ltr" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8P0"><span xml:space="preserve" class="sea5d7ce6-ed84-4cd7-9da5-6000376532b8000002"> </span></p></div></body></html>