IAIS publishes Issues Paper on roles and functioning of policyholder protection schemes (PPSs)

Following consultation between February and April 2023, the IAIS has now published its Issues Paper on roles and functioning of policyholder protection schemes (PPSs). The paper provides an updated overview of global practices regarding PPSs and their roles in insurance resolution and a variety of related activities. It also describes current practices for PPSs and is intended to serve as a guide for jurisdictions considering establishing a PPS or modifying an existing PPS.

This paper was developed as a follow-up to the “Issues Paper on policyholder protection schemes” that was published in October 2013. It builds on subsequent developments such as the adoption of the revised set of Insurance Core Principles (ICPs) and Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame) in November 2019.

Comments on the issues paper were sought from February to April 2023. The comments received and the IAIS’ responses are available here.
The final Issues Paper on roles and functioning of policyholder protection schemes (PPSs) is available here.

A public discussion session will be held via webinar on 16 January 2024 at 14:00 – 15:30 CET to present the final issues paper and answer questions from stakeholders. Details and registration information can be found here.