IAIS sets capital requirements for G-SIIns: IAIS has developed a set of minimum capital standards for global systemically important insurers (G-SIIns). The "Basic Capital Requirement" (BCR) has been approved by the Financial Stability Board. The BCR Ratio is calculated by dividing total qualifying capital resources by required capita. In principle, total qualifying capital resources are determined on a consolidated group-wide basis for all financial and material non-financial activities and are classified as either core or additional capital. BCR required capital is also calculated on a consolidated group-wide basis for all financial and material non-financial activities. It has also published guidance for firms on confidential reporting to supervisors under the BCR. (Source: IAIS Sets Capital Requirements for G-SIIns)
IAIS publishes issues papers: IAIS has published issues papers on:
- combating bribery and corruption: this looks at the risks insurers and intermediaries face from bribery and corruption and suggests steps they and their supervisors can take to combat them; and
- group corporate governance: this paper looks at appropriate checks and balances within insurance groups to ensure appropriate allocation of responsibilities and control functions.
(Source: IAIS Publishes Issues Papers)
IAIS publishes best practice for supervision of conduct and cross-border insurers: IAIS has published "Application Papers" addressed to supervisors with best practice and ideas for:
- the functioning of supervisory colleges; and
- conduct of business supervision.