The IAIS delivers on its mission through a committee system made up of its members. The committee system is led by an Executive Committee (ExCo) whose 38 members come from around the world, representing advanced and developing insurance markets. The Executive Committee is supported by five committees established under its by-laws.
- ExCo: The Executive Committee is responsible for providing overall strategic direction and managing IAIS activities in a manner consistent with the specific duties set forth in the Association’s by-laws. More generally, the Executive Committee is charged with doing all things necessary to ensure the sound functioning and furtherance of the mission of the association. The Executive Committee is supported by the Audit and Risk, Budget, Macroprudential, Policy Development, and Implementation and Assessment Committees.
- ARC: The Audit and Risk Committee is responsible for reviewing the internal controls of the Association and monitoring that its activities achieve their objectives through effective and efficient operations and are compliant with applicable procedures and resolutions.
- BC: The Budget Committee is responsible for overseeing the financial position and financial management of the IAIS, monitoring the IAIS’ financial situation on a regular basis, making recommendations on annual fee and expenditure levels, recommending and reviewing the IAIS’ policies on investment and reserves, and reviewing proposals for significant unbudgeted expenditures.
- IAC: The Implementation and Assessment Committee supports Members in implementing IAIS supervisory material by assessing observance of IAIS standards, providing guidance on supervisory practices, promoting information exchange and supervisory cooperation, and facilitating supervisory capacity building.
- MPC: The Macroprudential Committee is responsible for steering and overseeing the financial stability work of the IAIS. The implementation of the Holistic Framework is one of the committee’s key projects, including the Global Monitoring Exercise as well as work aimed at supporting IAIS Members in implementing the Holistic Framework.
- PDC: The Policy Development Committee oversees the development and review of supervisory and supporting material in collaboration with the other relevant committees. In carrying out its mandate, the PDC is supported by several subcommittees, discussing and resolving complex technical and policy issues and providing steer to help progress work.
In the scheme below you may find the IAIS committee system, including all subcommittees (workings groups and task forces) and forums. You may use the Control key in combination with the Mouse Wheel to zoom and change the view. The full scheme can also be downloaded as an image.