This technical note complements the 2025 technical note (Explanatory text and examples on ICS) by clarifying the Insurance Capital Standard (ICS) Rating Categories (RC) Mapping for the Credit Rating Agencies (CRAs) listed in Table 1, which originated during the monitoring period and was retained at ICS adoption for practical reasons. It also outlines the pathways under the ICS to recognise ratings from other CRAs.
The note takes stock of the evolving cyber insurance landscape, based on desktop reviews and interviews with supervisors, (re)insurers, brokers and other market participants.
The note examines how supervisors identify and allocate human and financial resources, the sufficiency of these resources in meeting current and future demands, and the strategies to allocate them efficiently.
The IAIS has published a comprehensive supervisory analysis and agreed on a path forward to respond to potential risks arising from the increasing allocation to alternative assets and adoption of cross-border asset-intensive reinsurance (AIR) by life insurers.
The IAIS and the World Bank Group developed an input paper for the G20 Sustainable Finance Working Group. The paper outlines practical and implementable actions that governments, supervisors, and the insurance industry can take to address the natural catastrophe insurance protection gap.
This document contains examples and explanatory text aimed to facilitate the understanding and implementation of the Insurance Capital Standard (ICS). Its content originates from the 2024 ICS data collection technical specifications, and should be read in conjunction with the ICS Level 1 and Level 2 texts. To facilitate that joint reading, the numbering of sections and subsections of this document follows the same structure as the ICS Level 1 and Level 2 texts.
The paper provides practical guidance to supervisors who are intending to transition to a risk-based solvency (RBS) regime.
This note drafted by staff from the IAIS, BIS Financial Stability Institute (FSI) and the Swiss Financial Market Supervisory Authority (FINMA) examines how reinsurers’ pricing and underwriting practices may affect affordability and availability of coverage for NatCat events.
The ICS Economic Impact Assessment report, conducted ahead of the actual implementation of the ICS as a Prescribed Capital Requirement for IAIGs, is qualitative and delves into potential effects of the implementation of the ICS across jurisdictions, evaluating impacts on insurance products, investment policies, capital, and business models, assuming consistent implementation of ICS specifications.
The ICS calibration document provides explanations on the calculation of the different ICS risk charges and their aggregation. Detailed information is made available for all risk modules within Insurance risks, Market risks, Credit risk and Operational risk, as well as for correlation matrices used for aggregating risk charges.
