Background information The consultation closed on 21 September 2023. The purpose of this public consultation was to solicit feedback from stakeholders on the global Insurance Capital Standard (ICS) ahead of its adoption as a group Prescribed Capital Requirement (PCR) for Internationally Active Insurance Groups (IAIGs) at year-end 2024. The consultation document presented the ICS as […]
IAIS consults on a new policy for engaging with stakeholders. The IAIS has published a public consultation on an updated stakeholder engagement and consultation policy. Comments are invited by 20 August 2023.
The IAIS has published a consultation on climate risk, first of a package of three consultations, aimed at promoting a globally consistent supervisory approach to address climate-related risks in the insurance sector. Comments are invited by 16 May 2023.
The IAIS has published for consultation its Issues Paper on roles and functioning of Policyholder Protection Schemes (PPSs). The Paper describes current practices for PPSs and is intended to serve as a guide for jurisdictions considering establishing a PPS or modifying an existing PPS. Comments are due by 14 April 2023.
The IAIS has just launched the public consultation on the Issues Paper on Insurance Sector Operational Resilience. The paper identifies issues impacting operational resilience in the insurance sector, with a focus on cyber resilience, third-party outsourcing and business continuity management.
Background information The IAIS continues to enhance the Holistic Framework for systemic risk in insurance, including through its triannual review of the risk assessment in the Global Monitoring Exercise. In support of this effort, the IAIS conducted a public consultation seeking input on the individual insurer monitoring (IIM) assessment methodology used to calculate individual insurers’ […]
The IAIS has just launched the public consultation on the Issues Paper on Insurance Sector Operational Resilience. The paper identifies issues impacting operational resilience in the insurance sector, with a focus on cyber resilience, third-party outsourcing and business continuity management.
Background information: In November 2017, the IAIS set out an agreement on the implementation of Insurance Capital Standard (ICS) Version 2.0, including a unified path to convergence of group capital standards in furtherance of its ultimate goal of a single ICS that achieves comparable outcomes across jurisdictions. The agreement acknowledges the development by the United States of […]
Background information: The IAIS adopted in November 2019 the Holistic Framework for the assessment and mitigation of systemic risk in the global insurance sector (Holistic Framework) in order to support its mission of effective and globally consistent supervision of the insurance industry to protect policyholders and to contribute to global financial stability. The key elements […]
