IAIS to develop standards for market conduct

15 July 2008

The IAIS announced the formation of a new Market Conduct Subcommittee, charged with developing international supervisory standards on insurers’ behaviour in the marketplace.

The IAIS announced the formation of a new Market Conduct Subcommittee, charged with developing international supervisory standards on insurers’ behaviour in the marketplace.

 

The subcommittee will consider the market conduct of insurers and intermediaries in the selling and handling of insurance products and services and in disclosure of information to customers. As part of this work the subcommittee will pursue the findings reported in the Joint Forum paper “Customer suitability in the retail sale of financial products and services”, published in April. That paper considered how supervisors and supervised entities across the insurance, banking and securities sectors deal with the risks posed by the sale of unsuitable retail financial products.

 

Press release

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