Public consultation feedback is invited by 27 June 2024 on draft revisions to supervisory material related to the Holistic Framework in ICPs 12 and 16 and related ComFrame standards, including on recovery, resolution and liquidity risk and counterparty risk management.
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.
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.
The IAIS published today the Association’s 2023 Financial Report, containing the financial statements of the IAIS for the 12 months from January to December, as well as reports from the Chairs of the Executive Committee, Budget Committee and Audit and Risk Committee.
The IAIS today published its 2024 Global Insurance Market Report (GIMAR), sharing the outcomes of this year’s Global Monitoring Exercise (GME), the IAIS’ risk assessment framework to monitor key risks and trends and detect the potential build-up of systemic risk in the global insurance sector
In a joint note entitled “Uncertain waters: can parametric insurance help bridge NatCat protection gaps?”, staff from the IAIS and BIS’s Financial Stability Institute (FSI) present the results of a study on parametric insurance coverage for natural catastrophe (NatCat) risks, focusing on its design elements.
Read the latest news from the IAIS. This edition focuses on the Insurance Capital Standard (ICS), set for adoption next week during the IAIS AGM – a milestone achievement for the Association. The IAIS is also please to publish this month its first Application Paper on the theme of diversity, equity and inclusion.
The International Association of Insurance Supervisors (IAIS) has submitted a comment letter to the International Accounting Standards Board (IASB) on its exposure draft on Climate-related and Other Uncertainties in the Financial Statements, issued in July 2024. Overall, the IAIS is supportive of the exposure draft and the objective of providing additional guidance in relation to […]
Following consultation between March and June 2024, the IAIS has now published its Application Paper on supervising diversity, equity and inclusion – the governance, risk management and culture perspective.
Full details on the paper, the public consultation comments received and the IAIS’ responses are available on this page.
The IAIS is continuing to review public consultation comments received more recently on the draft Application Paper on how to achieve fair treatment for diverse consumers and anticipates publishing the final paper in mid-2025.
The IAIS’ work on diversity, equity and inclusion will form part of discussions at the IAIS Annual Conference 2024 on 5-6 December in Cape Town, South Africa.
Public consultation feedback is invited by 14 June 2024 on an application paper on the significance of DEI to insurers’ corporate governance (ICP 7), risk management (ICP 8) and corporate culture.
