Financial Stability Board

Archives - IAIS - International Association of Insurance Supervisors

  • 14 November 2019 Insurance Core Principles, Standards, Guidance and Assessment Methodology

    The IAIS has issued the Insurance Core Principles (ICPs) as the globally accepted framework for insurance supervision. The ICPs seek to encourage the maintenance of consistently high supervisory standards in IAIS member jurisdictions. A sound supervisory system is necessary for the protection of policyholders and promoting the stability of the financial system and should address the broad set of risks within, and posed by, the insurance sector.
    Content Type(s): Compendium Source(s): IAIS Policy Area(s): Financial Regulation and Supervision Topic(s): Prudential Supervision and Oversight
  • 14 November 2019 Application Paper on Recovery Planning

    The Application Paper on Recovery Planning provides guidance with respect to supervisory material related to recovery planning in the Insurance Core Principles (ICPs) and the Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame). In particular, it is related to the material in ICP 16.15 and ComFrame 16.15.a and 16.15.b (ICP 16 Enterprise Risk Management for Solvency Purposes), and is also relevant to supervisory cooperation and coordination arrangements set out in ICP 23 (The Group-wide Supervisor) and ICP 25 (Supervisory Cooperation and Coordination).
    Content Type(s): Compendium Source(s): IAIS Policy Area(s): Financial Regulation and Supervision
  • 14 November 2019 Holistic Framework for the assessment and mitigation of systemic risk in the insurance sector (“Holistic Framework“)

    In November 2019, the IAIS adopted the holistic framework for the assessment and mitigation of systemic risk in the insurance sector (“holistic framework'), for implementation from the beginning of 2020. The holistic framework is an integrated set of supervisory policy measures, a Global Monitoring Exercise, and implementation assessment activities.
    Content Type(s): Compendium Source(s): IAIS Policy Area(s): Financial Regulation and Supervision
  • 14 November 2019 Common Framework for the Supervision of Internationally Active Insurance Groups

    The Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame) establishes supervisory standards and guidance focusing on the effective group-wide supervision of Internationally Active Insurance Groups (IAIGs). ComFrame is a comprehensive and outcome-focused framework aimed at facilitating effective group-wide supervision of IAIGs, by providing qualitative and (in a future phase) quantitative supervisory minimum requirements tailored to the international activity and size of IAIGs.
    Content Type(s): Compendium Source(s): IAIS Policy Area(s): Financial Regulation and Supervision
  • 27 February 2019 Application Paper on Proactive Supervision of Corporate Governance

    The Application Paper on Proactive Supervision of Corporate Governance supports the practical application of the corporate governance related ICPs, mainly ICP 7 (Corporate Governance) and ICP 8 (Risk Management and Control Functions). This Application Paper sets out good practices related to the organisation and functioning of the supervisor, with the objective of promoting proactive supervision of corporate governance.
    Content Type(s): Compendium Source(s): IAIS Policy Area(s): Financial Regulation and Supervision