5 Dec 2024 in Latest news, Public statements

IAIS welcomes the release of the FSB’s first list of insurers subject to resolution planning standards consistent with the FSB Key Attributes

The list provides transparency to markets, policyholders and the larger public that the reported insurers and relevant authorities are working to be prepared for the insurers’ entry into resolution if it ever becomes necessary. The IAIS welcomes this publication and coordinates closely with the FSB with respect to resolvability, to support the globally consistent application of the resolution standards.

5 Dec 2024 in Latest news, Press releases

IAIS adopts Insurance Capital Standard and other enhancements to its global standards to promote a resilient insurance sector

At its AGM today, the IAIS adopted the first comprehensive global capital standard for insurance supervision, the ICS, and also adopted important updates to existing qualitative global standards for insurance supervision, the ICPs and ComFrame, related to climate risk, recovery and resolution, and valuation and capital adequacy.

24 Oct 2024 in Assessment report, Latest news

IAIS publishes aggregate report on the peer review process on ICP 16 (Enterprise Risk Management for Solvency Purposes)

The IAIS has published the aggregate assessment results and observations on the topic of “Enterprise Risk Management for Solvency Purposes”, covering standards set out in Insurance Core Principle (ICP) 16. The peer review process (PRP) assesses the standards which apply to insurance supervision in all jurisdictions regardless of the level of development or sophistication of […]

8 Aug 2024 in Application Papers, Consultations, Latest news, Supervisory and supporting material

Public consultation on the draft Application Paper on Operational Resilience Objectives [and Toolkit]

Public consultation feedback is invited by 11 October 2024 on the first phase of the draft Application Paper on Operational Resilience Objectives [and Toolkit]. This first phase sets out outcome-based objectives for operational resilience, which aim to provide a sound and consistent foundation to support supervisory authorities in their oversight of insurance sector operational resilience.