IAIS concludes 20th annual conference
18 October 2013
Financial stability, ComFrame and access to insurance were among the topics discussed at the conference.
The International Association of Insurance Supervisors annual conference provides a forum for insurance supervisors to strengthen commitments, share insights and develop new mechanisms to work together. It also provides stakeholders with insights into the on-going work of the IAIS.
“We are glad to have been able to welcome over 600 supervisors, government officials and insurance professionals for two days of lively discussion and debate on many issues of critical importance within the insurance sector", said Peter Braumüller, Chair of the IAIS Executive Committee.
The theme of the 2013 Annual Conference was Building Sustainable Insurance Supervision in a Changing World. It included panels on the following topics:
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Insurance and financial stability. This panel focussed on the IAIS’ recent work to help identify global systemically important insurers and develop policy measures that apply to them.
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Ageing of populations. To help understand potential opportunities and challenges, this panel examined what implications the ageing of populations will have for insurance markets, pension systems and the macro-economy.
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Front line supervision and supervisory education. This panel discussed how to implement most effectively the new Coordinated Implementation Framework, including an increased regional focus, and whether there are certain basic requirements that the IAIS should assist all jurisdictions to put in place.
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The path towards increased access to insurance. Panellists discussed the A2ii’s new strategic direction and how partnership will assist IAIS Members implement the Insurance Core Principles in a proportionate manner that creates a path toward increased access to insurance.
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ComFrame and group-wide supervision. Once in place, ComFrame will allow supervisors to efficiently and effectively cooperate and coordinate by providing a basis for comparing regulatory and supervisory processes of internationally active insurance groups. As one of the IAIS’ most significant projects, focus was given to ComFrame’s status and the next steps in its development and field testing.
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The impacts of global climate change. Panellists discussed matters such as how to improve catastrophic risk management and enhance risk diversification through cross-border cooperation.
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Consumer protection frameworks and guarantee funds. This session focused on the variety of consumer protection frameworks and approaches to guarantee funds, how these funds operate in jurisdictions around the globe and the role of these frameworks and funds in the overall approach to insurance supervision and consumer protection, especially as part of effective resolution.
Press release
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