International Association of Insurance Supervisors (IAIS) News

‘Systemically Important’ Label Can Be Avoided: Fitch

Fitch Ratings said that newly established transparency about the designation process for globally systemically important insurers (G-SIIs) could help more to proactively stay off the list in the first place. The International Association of Insurance Supervisors, a global standard setting …

Wisconsin Commissioner Approved for IAIS Leadership Role

Wisconsin Insurance Commissioner Ted Nickel was approved as a member of the Executive Committee of the International Association of Insurance Supervisors (IAIS). Tennessee Insurance Commissioner Julie Mix McPeak was elected vice-chair of the Executive Committee. Texas Insurance Commissioner David Mattax …

Tennessee Commish McPeak Elected Vice Chair of Global Insurance Committee

Tennessee Department of Commerce & Insurance (TDCI) Commissioner Julie Mix McPeak has been elected by her fellow members of the International Association of Insurance Supervisors (IAIS) to serve as vice chair of the group’s Executive Committee (ExCo). Comprised of insurance …

Global Regulators Call for Closer Regulation of Financial Firms

Financial industry regulators need better coordination in the event of a big multinational financial institution failing or breaching compliance rules, the world’s top supervisory bodies have concluded in a survey. Arrangements for handling failures of diverse financial groups are inadequate …

NAIC Roadshow to Tout State Regulation to U.S., Foreign Policymakers

The nation’s organization of state insurance regulators is launching an educational program to sell U.S. and foreign leaders and the public on the virtues of the 150-year old state-based insurance regulatory system. The National Association of Insurance Commissioners (NAIC) said …

Global Insurance Organization’s G-20 Delegates Stress Social, Economic Role

In a series of meetings this week with the Australian G-20 Presidency, the Global Federation of Insurance Associations (GFIA) has called on the G-20 to “ensure that all international regulatory reform initiatives allow the insurance sector to continue to support …

ABIR Comments on ComFrame Supervision, Int’l. Insurance Capital Standards

In comments filed with the International Association of Insurance Supervisors (IAIS), the Association of Bermuda Insurers and Reinsurers (ABIR) offered its support for the development of insurance capital standards (ICS) and implementation of them via the Common Assessment Framework (ComFrame). …

PCI Expresses Concern with ‘Unnecessary’ Regulation in ComFrame Draft

The Property Casualty Insurers Association of America (PCI) has submitted formal comments to the International Association of Insurance Supervisors (IAIS) on its ComFrame Consultation Draft stating that ComFrame, while improved over prior versions, still imposes an unnecessary additional level of …

Regulators Map Out First Capital Blueprint for Large Insurers

The world’s largest insurers could be forced to raise fresh capital under rules proposed by regulators on Wednesday that echo measures imposed on the banks to avert another financial crisis. The insurance industry says it wasn’t to blame for the …

FERMA Forum Opens with Solvency II Analysis from Karel Van Hulle

The bi-annual Risk Management Forum of the Federation of European Risk Management Associations (FERMA) kicked off with a reception on Sunday night for the 1400 plus delegates at the MECC Conference Center in the Dutch city of Maastricht. FERMA got …