30 September 2003

IAIS Standards on Insurance Supervision

October 2003
IAIS: Supervisory standard on supervision of reinsurers
This standard elaborates on Principle 1 of Principles on minimum requirement for supervision of reinsurers, focusing particularly on where reinsurers differ from primary insurers, hence requiring the supervisory framework to be adapted. The standard applies to internationally active reinsurers that are pure reinsurers or insurers, whose main activity includes the issuance of reinsurance coverage, having cedants in at least one jurisdiction outside their own. The standard also applies to domestic reinsurers to the extent that it is relevant. Supervisors may choose to apply the standard to insurers whose main activity is the issuance of insurance but who also provide a material amount of reinsurance coverage.
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January 2002
IAIS: Supervisory standard on the evaluation of the reinsurance cover of primary insurers & the security of their reinsurers
This standard covers the indirect supervision of reinsurance. Its main purpose is to ensure that the reinsurance arrangements that primary insurers conclude are fully assessed, and consequently that a judgment can be made on the level of security provided by the reinsurance programme.
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January 2002
IAIS: Supervisory standard on the exchange of information
This paper sets out a standard for efficient and regular exchange of information between supervisory bodies, both within the insurance sector and between different financial services sectors. Information exchange is crucial for the effective supervision of internationally active insurers, insurance groups and financial conglomerates.
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October 2000
IAIS: Supervisory standard on group coordination
Based on the Coordinator paper issued by the Joint Forum in 1999, which sets the general principles for the role of a coordinator regarding the supervision of financial conglomerates, this standard presents the principles covering the insurance sector in more concrete form.
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December 1999
IAIS: Supervisory standard on asset management by insurance companies
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October 1998
IAIS: Supervisory standard on derivatives
This standard provides guidance to supervisors in assessing how insurers control risks in derivatives. It sets out risk management controls for insurers active in derivatives and a reporting framework, applicable across the full range of potential activities.
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October 1998
IAIS: Supervisory standard on on-site inspections
On-site inspection is an important part of the supervisory process, closely related to the ongoing monitoring process. This standard lays down the objectives of on-site inspection, the on-site inspection procedure and organisation of the on-site inspection process.
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October 1998
IAIS: Supervisory standard on licensing
Licensing plays an important role in ensuring efficiency and stability in the insurance market. This standard deals with the prudential aspects of licensing and contains requirements that should be met by an insurer seeking a licence, and the principles that apply to the licensing procedure itself, including the review of changes in the control of a licensed company.
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