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Insurance capital standards
Cause stakeholders concern at IAIS meeting
Read this recap from the International Association of Insurance Supervisors (IAIS) Capital-related Stakeholder Meeting.
- Insurance Capital Standards cause stakeholders concern at IAIS meeting
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Insurance Capital Standards cause stakeholders concern at IAIS meeting
It may have been California dreamin’ to expect the emergence of consensus at the recent International Association of Insurance Supervisors (IAIS) Capital-related Stakeholder Meeting held in Newport Beach.
But as the day-long session on insurance capital standards (ICS) wore on, the gap between the international supervisors and most US stakeholders became evident. While various stakeholders had differing opinions on what the final standards should be, the need for a principle-based framework that still recognized and was compatible with local regulatory regimes was a central theme.
This Closer Look provides an overview of the meeting; general, valuation, capital resources, and capital requirements comments resulting from the proposed ICS; and suggestions on next steps for industry stakeholders to shape the debate, evaluate, and plan for the final proposal.