Roadmap shows way to global rules on insurer solvency

BASEL, Switzerland, February 16 (Global Risk Regulator) – Insurance supervisors today issued a roadmap for the development of international standards on the assessment of insurer solvency. The plan extends over many years.

The roadmap has been drawn up by the International Association of Insurance Supervisors (IAIS). The IAIS is the Basel, Switzerland-based umbrella body that groups insurance supervisors from some 180 jurisdictions with the aim of promoting international standards for the insurance industry.

The paper outlines the elements needed for the future development of shared standards for the assessment of insurer solvency and timeframes for their delivery.

IAIS technical committee chairman Tom Karp said the IAIS places high priority on the work plan which “will support and enhance transparency and convergence of solvency standards for insurers worldwide”.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development