Basel – The International Association of Insurance Supervisors (IAIS) today released an interim public consultation paper on an activities-based approach to systemic risk in the insurance sector in accordance with its Systemic Risk Assessment and Policy Workplan previously announced on 28 February 2017 and welcomed by the Financial Stability Board.
IAIS Executive Committee Chair Victoria Saporta stated, “With the release of this paper, the IAIS has taken a significant step forward in progressing its Systemic Risk Assessment and Policy Workplan”.
In accordance with this workplan, the IAIS is developing an activities-based approach to systemic risk in the insurance sector as part of the next three-year cycle for reviewing its approach to systemic risk scheduled to conclude in 2019.
The interim consultation paper is intended to provide an opportunity for stakeholders to give input into the development of an activities-based approach and feedback on the proposed steps that the IAIS will follow in its work on deriving activities-based policy measures. The paper does not include conclusive proposals on policy measures, as this will be the subject of the next phase of work in 2018.
The IAIS plans to launch a second public consultation on its final proposals by the end of 2018, after considering comments on this interim public consultation and completing further work on the development of policy measures to address potential systemically risky activities in the insurance sector and the review of its assessment methodology for the identification of Global Systemically Important Insurers (G-SIIs).
The IAIS invites comments on this interim consultation paper by 15 February 2018, through the consultation tools on the IAIS website.
The IAIS will hold a public background call via teleconference to introduce the interim consultation paper on 19 December 2017, at 13:30 Basel time.
To access the consultation tool, view the interim consultation paper and receive dial-in details for the public background call, please click here.
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
Sign me up for the newsletter!
Notify me of follow-up comments by email.
Notify me of new posts by email.
The Best Method Of Saving On The Energy Bills At Home
Mercedes-Benz India launches ‘Wishbox 2.0’ to excite the luxury car market, create incremental demand and reinstall customer confidence
Unprecedented events require disruptive behavior by HR
GoNuts launches India’s most influential fans-celebrity connect platform
Acer partners with Indian Principals’Network (IPN) for Smart Teaching Initiative
2014 The Global Indian New Network (TGINN)