Guidance on transitioning to a risk-based solvency regime
The paper provides practical guidance to supervisors who are intending to transition to a risk-based solvency (RBS) regime.
The paper provides practical guidance to supervisors who are intending to transition to a risk-based solvency (RBS) regime.
On 26 June the IAIS will present insights from the Guidance on transitioning to an RBS regime, developed by the Risk-based Solvency Implementation Forum (RBSIF), which provides practical guidance to supervisors who are intending to transition to an 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.
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.
The note analyses key design elements of parametric insurance for natural catastrophe risks and synthesises insights from a survey with insurance authorities and industry participants.
This work, under the Italian Presidency, emphasises the crucial role of insurance, insurance supervisors and governments in addressing the financial impacts of natural hazards.
Today, the IAIS issued a short summary of its ongoing efforts in the area of the adoption of artificial intelligence and machine learning (AI/ML) in the insurance sector. In view of the rapid advancements in AI/ML technologies, in 2023 the IAIS FinTech Forum conducted a thematic review of existing guidance on AI/ML and model risk […]
This is a short summary of the thematic review undertaken by the FinTech Forum on existing guidance on artificial intelligence/machine learning and model risk management from 12 supervisory authorities and international organisations.
