IAIS publishes Issues Paper on Insurance Sector Operational Resilience
The IAIS has now published its Issues Paper on Insurance Sector Operational Resilience, which identifies issues impacting operational resilience in the insurance sector and provides examples of how supervisors are approaching these developments, with consideration of lessons learnt during the Covid-19 pandemic.
Recognising that operational resilience is a broad and evolving area, the paper addresses the following three topics:
- Cyber resilience
- Third-party outsourcing
- Business Continuity Management
Comments on the Issues Paper were sought from November 2022 to January 2023 and responses were received from a combination of external stakeholders and IAIS Members. The responses generally supported the initiative and provided helpful insights on how the IAIS could continue to add value going forward with respect to encouraging insurance sector operational resilience. The feedback received and the IAIS’ responses to such are available here.
The Issues Paper on Insurance Sector Operational resilience is available here.
A public discussion session will be held via webinar on 31 May at 15.30 – 16.30 CEST to present the Issues Paper and answer any questions from stakeholders. Click here for details and registration.