Own Risk and Solvency Assessment (ORSA) - NAIC Model Act vs SOC 2
What is the difference between Own Risk and Solvency Assessment (ORSA) - NAIC Model Act and SOC 2?
Own Risk and Solvency Assessment (ORSA) - NAIC Model Act is a risk management framework applying in the United States (NAIC), with 9 controls across 5 domains. SOC 2 is a compliance framework applying in the United States, with 61 controls across 5 domains. They govern different subjects, so the overlap is limited to the governance requirements they share. The mapping below shows where that is.
Own Risk and Solvency Assessment (ORSA) - NAIC Model Act9 controls
SOC 261 controls
Questions people ask about Own Risk and Solvency Assessment (ORSA) - NAIC Model Act and SOC 2
What is the difference between Own Risk and Solvency Assessment (ORSA) - NAIC Model Act and SOC 2?
Own Risk and Solvency Assessment (ORSA) - NAIC Model Act has 9 controls while SOC 2 has 61 controls. Both frameworks address compliance requirements but differ in scope, focus, and applicability. Use our platform to explore the exact control-to-control mappings.
Do I need both Own Risk and Solvency Assessment (ORSA) - NAIC Model Act and SOC 2?
Whether you need both depends on your industry, regulatory requirements, and customer expectations. Many organizations implement multiple frameworks simultaneously. Our compliance platform helps you map controls between Own Risk and Solvency Assessment (ORSA) - NAIC Model Act and SOC 2 so you can identify shared requirements and avoid duplicate effort.
How do Own Risk and Solvency Assessment (ORSA) - NAIC Model Act and SOC 2 controls map to each other?
Our platform maps controls between Own Risk and Solvency Assessment (ORSA) - NAIC Model Act and SOC 2 at a granular level. Each mapping shows whether controls are fully aligned, partially aligned, or represent gaps. This helps you prioritize implementation when pursuing both frameworks.
Which framework should I implement first, Own Risk and Solvency Assessment (ORSA) - NAIC Model Act or SOC 2?
The best starting point depends on your specific regulatory requirements, industry, and customer demands. Consider which framework is most urgently required by your stakeholders or regulators. Use our free compliance platform to run a gap analysis and determine the optimal implementation sequence.
Each framework on its own
Comparisons people read next
Each of these compares one of the two standards above against another it shares controls with.
Own Risk and Solvency Assessment (ORSA) - NAIC Model Act vs IAIS Insurance Core Principles (ICPs)2 shared controlsOwn Risk and Solvency Assessment (ORSA) - NAIC Model Act vs South Korea PIPA2 shared controlsOwn Risk and Solvency Assessment (ORSA) - NAIC Model Act vs Vermont Artificial Intelligence and Consumer Data Act (AICDA)2 shared controlsSOC 2 vs ISO 27701:201947 shared controlsSOC 2 vs NIST SP 800-53 Rev 545 shared controlsSOC 2 vs C5 (Germany)39 shared controls
See all control mappings with interactive gap analysis
Explore the complete mapping between Own Risk and Solvency Assessment (ORSA) - NAIC Model Act and SOC 2 on our compliance platform.
Written and maintained by Gerard Blokdyk, The Art of Service.