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

Comments due by 14 April 2023 midnight CEST

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.

Comments are invited by 14 April 2023 24.00 (Basel time).

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.

How to provide feedback

The consultation is now open. Please use the consultation tool available at this link to provide your comments. Instructions for use are available when you access the tool. Only comments submitted through the tool will be considered. All comments will be published on the IAIS website unless the option in the tool to keep comments confidential is chosen.

Please note that some formatting (eg bullet points) may not be preserved when copying and pasting your comments into the consultation tool from other software such as Microsoft Word.