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The holistic framework is an integrated set of supervisory policy measures, a Global Monitoring Exercise, and implementation assessment activities.

  • Supervisory material: an enhanced set of supervisory policy measures for macroprudential purposes, designed to increase the overall resilience of the insurance sector and help prevent insurance sector vulnerabilities and exposures from developing into systemic risk. When a potential systemic risk is detected, supervisory powers of intervention enable a prompt and appropriate response. The holistic framework related supervisory material is integrated into the ICPs and ComFrame.

  • Global Monitoring Exercise: the IAIS Global Monitoring Exercise (GME) is designed to assess global insurance market trends and developments and detect the possible build-up of systemic risk in the global insurance sector. This includes, at an individual insurer and sector-wide level, a collective discussion at the IAIS on the assessment of potential systemic risks and appropriate supervisory responses and reporting to the Financial Stability Board (FSB) on the outcomes.

  • Implementation assessment: an IAIS assessment of the consistent implementation of enhanced supervisory policy measures and powers of intervention.

Assessment Methodology

Handbook for Assessing Implementation of IAIS Supervisory Material (June 2017)

Implementation assessment is an integral part of the holistic framework. The assessment of implementation is based on the assessment methodology of the ICPs and ComFrame