IAIS has announced that, by 2016, it will develop a risk-based global insurance capital standard (ICS) and include it within ComFrame, the framework for the supervision of internationally active insurance groups. This work will be informed by the existing capital component in ComFrame's solvency assessment and by work in 2014 to develop backstop capital and higher loss absorbency requirements for global systemic insurance institutions. (Source: IAIS Commits to Develop by 2016 a Global ICS)