October 27, 2017

IAIS published the October issue of its newsletter, which highlights updates on the review and refresh of the IAIS Core Curriculum. This refresh updates and expands material for use by all IAIS members. The core curriculum is a resource to help insurance supervisors gain a better understanding of the underlying concepts, terminology, and interactions of material in the Insurance Core Principles (ICPs) and other IAIS supervisory material. IAIS launched the Core Curriculum project in 2016. Phase 1 of the project is scheduled to be completed in mid-2018, with Phase 2 anticipated by the end of 2019.

The newsletter outlines the key outcomes from the High Level Roundtable of Senior Insurance Supervisors in Manila, particularly the following:

  • Importance of the IAIS ICPs was reaffirmed, as was the ongoing need for support for ICP implementation and assessment.
  • Importance of good supervision to insurance market development and market stability was recognized.
  • Need to develop actuarial capacity was noted. This applies both in supervisory authorities and in industry. It also applies in both the insurance and pensions sectors.

Additionally, the newsletter highlights that the Financial Stability and Technical Committee (FSTC), at its meeting in Basel, received updates from the chairs of working groups developing the revised ICPs, discussed the 2018-19 Roadmap Project Plans, and agreed on a recommendation on prospective G-SIIs to the Executive Committee.

 

Keywords: International, Insurance, ICP, Core Curriculum Refresh, Newsletter, FSTC, IAIS

Related Articles
News

US Agencies Consult on Capital Treatment of Land Development Loans

US Agencies (FDIC, FED, and OCC) issued a proposed rule on the treatment of loans that finance the development of land for purposes of the one- to four-family residential properties exclusion in the definition of high volatility commercial real estate (HVCRE) exposure in the regulatory capital rule.

July 12, 2019 WebPage Regulatory News
News

EBA Single Rulebook Q&A: Second Update for July 2019

Under the Single Rulebook question and answer (Q&A) updates for this week, EBA published answers to five questions related to supervisory reporting.

July 12, 2019 WebPage Regulatory News
News

ESMA Updates Manual for European Single Electronic Format in EU

ESMA updated the reporting manual for European Single Electronic Format (ESEF).

July 12, 2019 WebPage Regulatory News
News

FED Updates Supplemental Instructions for Reporting Form FR Y-9C

FED updated the supplemental instructions for FR Y-9C reporting.

July 12, 2019 WebPage Regulatory News
News

EBA Publishes Report on Monitoring Implementation of LCR in EU

EBA published its first report on the monitoring of the implementation of liquidity coverage ratio (LCR) in EU.

July 12, 2019 WebPage Regulatory News
News

EIOPA Consults on Reporting and Disclosures Under Solvency II Review

EIOPA launched a consultation package on supervisory reporting and public disclosure in the context of its work linked with the 2020 Solvency II review.

July 12, 2019 WebPage Regulatory News
News

APRA Applies Additional Capital Requirements to Three Australian Banks

APRA is applying additional capital requirements to three major banks in Australia to reflect higher operational risk identified in their risk governance self-assessments.

July 11, 2019 WebPage Regulatory News
News

IMF Report on 2019 Article IV Consultation on Euro Area Policies

IMF published its staff report in context of the 2019 Article IV consultation on euro area policies with member countries.

July 11, 2019 WebPage Regulatory News
News

FSB to Survey Practices on Cyber Incident Response and Recovery

FSB launched a survey on the industry practices on cyber incident response and recovery.

July 11, 2019 WebPage Regulatory News
News

ECB Appoints New Members of Supervisory Board

The Governing Council of ECB appointed Edouard Fernandez-Bollo, Kerstin af Jochnick, and Elizabeth McCaul as representatives to the Supervisory Board of ECB Banking Supervision, for a five-year non-renewable term.

July 11, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 3441