Michigan Compiled Laws § 500.1703 Risk Management Framework.

500.1703 Risk management framework.

Sec. 1703.

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.

History: Add. 2015, Act 245, Imd. Eff. Dec. 22, 2015
Popular Name: Act 218

Section: 500.1701  500.1703  500.1705  500.1707  500.1709  500.1711  500.1713  500.1715    Next

Last modified: October 10, 2016