Public Consultation on Issues Paper on roles and functioning of Policyholder Protection Schemes (PPSs)

The consultation closed on 14 April 2023.

Background information

The IAIS’ Resolution Working Group (ReWG) has published for consultation its Issues Paper on roles and functioning of Policyholder Protection Schemes (PPSs). The Issues Paper provides an updated overview of global practices regarding PPSs and their roles in insurance resolution and a variety of related activities. This Paper describes current practices for PPSs and is intended to serve as a guide for jurisdictions considering establishing a PPS or modifying an existing PPS.

This Paper was developed as a follow-up to the “Issues Paper on Policyholder Protection Schemes” that was published in October 2013. It builds on subsequent developments such as the adoption of the revised set of Insurance Core Principles (ICPs) and Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame) in November 2019.

On 14 April 2023, the public consultation on the Issues Paper on roles and functioning of Policyholder Protection Schemes (PPSs) closed. The IAIS is in the process of reviewing the comments received. All consultation questions were optional, allowing stakeholders to comment on all or a subset of questions. The consultation tool is now closed, and it is no longer possible to submit comments.

A public background session was held via webinar on 1 March 2023 to present the paper and answer questions from stakeholders. A recording session can be found here.