The insurer's ERM framework and risk management processes
(including internal controls) are critical to solvency assessment.
Supervisors should therefore assess the adequacy and soundness
of the insurers framework and processes by receiving the
appropriate information, including the ORSA regularly. However,
company operations are primarily the responsibility of the Board and
Senior Management, and they need to be able to exercise their own
discretion or business judgment to carry out these responsibilities.