Public consultation on draft Application Paper on operational resilience objectives and toolkit
Objectives and toolkit consultation (July 2025 - currently inviting feedback)
Objectives consultation (August 2024 - closed)
The IAIS is consulting until 29 September on a draft Application Paper including objectives and a toolkit to promote insurance sector operational resilience.
Background information
As insurers’ operations become more complex, interconnected and dependent on technology and third-party service providers, the likelihood and impact of operational disruptions and the importance of operational resilience have materially increased. An operationally resilient insurer is one that can encounter, withstand, mitigate, recover and learn from the impact of a broad range of events that have the potential to significantly disrupt the normal course of business by affecting critical services.
The Insurance Core Principles (ICPs) establish the importance of insurers having effective risk and governance processes to manage all risks. This draft Application Paper supports supervisors and insurers in understanding how to assess and address operational resilience in light of the ICP risk management and other relevant requirements.
The paper consists of the operational resilience objectives (the objectives) and the supporting practices and tools (the toolkit). The objectives provide an outcomes-based articulation of the application of ICPs in light of developments in operational resilience, while the toolkit provides a selection of practices that could be used to achieve (or work towards achieving) the objectives. These two components work in tandem: the objectives provide the basis for a high-level framework for meeting the ICPs, while the toolkit provides supervisors with practical implementation approaches that will naturally evolve as risk management practices mature (in general and for a given insurer) and new risks emerge. The selection of practices and tools included in the toolkit can be implemented according to the specific context and needs of each supervisor and market.
The IAIS consulted on the objectives between August to October 2024. The IAIS thanks those stakeholders that responded to that consultation. The objectives in this current consultation have been updated to address comments raised during the consultation period and the resolution of comments document has been published below. The consultation provides an opportunity to provide feedback on both elements.
Feedback on the paper is invited by 29 September 2025 at 24:00 CEST. All consultation questions are optional, so stakeholders may comment only on a subset of questions. After this deadline, the consultation tool will be closed, and it will no longer be possible to submit.
A public background session webinar will be held on 17 July 2025 at 13:00–14:30 CEST to present the draft Application Paper on operational resilience objectives and toolkit and answer any questions from stakeholders. Click here for details and registration.
How to provide feedback:
The consultation is now open. Please use the consultation tool available at this link to provide your comments. Instructions for use are available when you access the tool. Only comments submitted through the tool will be considered. All comments will be published on the IAIS website unless the option in the tool to keep comments confidential is chosen.
Please note that some formatting (eg bullet points) may not be preserved when copying and pasting your comments into the consultation tool from other software such as Microsoft Word.