International Association of Insurance Supervisors (IAIS) News

Forced Payouts of Pandemic Claims Risk Insurers’ Financial Stability: Regulators

Forcing retroactive payouts to cover business disruption losses resulting from the coronavirus pandemic could ultimately put financial stability at risk, global insurance regulators said. Disputes over cover for businesses struggling to stay afloat during coronavirus lockdowns have erupted in countries …

Global Regulators Delay, Rethink ‘Too-Big-to-Fail’ Designation for Insurers

Global insurance regulators will put off singling out insurers deemed so important to the financial system that they are required to hold extra capital, in a victory for companies such as American International Group and Prudential. The International Association of …

Oklahoma Joins International Insurance Information Exchange Agreement

The Oklahoma Insurance Department has joined an international supervisory cooperation and information exchange agreement. According to the International Association of Insurance Supervisors (IAIS), since the first jurisdiction was admitted in June 2009, membership in the IAIS Multilateral Memorandum of Understanding …

Global Insurance Regulators Delay Implementation of International Capital Rule

Global regulators have given themselves more time to bridge transatlantic differences that have delayed the world’s first capital rule for insurers, raising a cheer in the sector. The International Association of Insurance Supervisors (IAIS) said its members have agreed in …

Lacking Political Support, Global Capital Rule for Insurers Stalls

The first global standard for investors to compare how much capital insurers from different countries hold to keep policies safe is caught in a transatlantic tussle, casting doubt on whether it is practical, industry and regulatory officials say. Global banks …

Tennessee Joins International Information Exchange Agreement

The Tennessee Department of Commerce and Insurance (TDCI) has joined the Multilateral Memorandum of Understanding (MMoU), an international supervisory cooperation and information exchange agreement. The MMoU is part of the International Association of Insurance Supervisors (IAIS), a global standard-setting body …

Former Florida Commissioner McCarty Recognized for International Insurance Work

The International Association of Insurance Supervisors (IAIS) has recognized former Florida Insurance Commissioner Kevin M. McCarty for his service to international insurance regulation. McCarty is a past president of the National Association of Insurance Commissioners (NAIC) and was nominated by …

‘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 …