(1) Except as provided in KRS 304.3-625, an insurer or the insurance group of which the insurer is a member shall regularly conduct an ORSA consistent with a process comparable to the ORSA Guidance Manual.
(2) The ORSA shall be conducted no less often than annually, but also at any time when there are significant changes to the risk profile of the insurer or the insurance group of which the insurer is a member.