On 27 October 2014, the IAIS published a report on the results of its self-assessment and peer review of four of its insurance core principles (ICPs):- namely ICP 4 (Licensing), ICP 5 (Suitability of Persons), ICP 7 (Corporate Governance) and ICP 8 (Risk Management and Internal Controls). Findings include that (a) levels of adherence to the ICPs and related standards was high but certain challenges to adherence exist and (b) further guidance and clarification on some aspects of the ICPs and related standards is needed.