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 has published the aggregate assessment results and observations on the topic of “Enterprise Risk Management for Solvency Purposes”, covering standards set out in Insurance Core Principle (ICP) 16. The peer review process (PRP) assesses the standards which apply to insurance supervision in all jurisdictions regardless of the level of development or sophistication of […]
The assessment questionnaire was developed by the PRP expert team and consisted of 65 questions in total, covering the sixteen standards applicable to ICP 16.
This report provides the aggregate assessment results and observations from the IAIS peer review process (PRP) on the topic of “Enterprise Risk Management for Solvency Purposes” covering standards set out in Insurance Core Principle (ICP) 16
as adopted in November 2019.
