Comparability assessment
The comparability assessment project is an initiative that will ascertain whether the Aggregation Method (AM), being developed by the United States and other interested jurisdictions, provides comparable outcomes to the ICS. If deemed comparable, the AM will be considered an outcome equivalent approach for implementation of the ICS as a prescribed capital requirement. The IAIS aims to be in a position by the end of the five-year monitoring period to assess whether the AM provides comparable (ie substantially the same) outcomes to the ICS.
The IAIS has launched a public consultation on the draft criteria that will be used to assess whether the Aggregation Method provides comparable outcomes to the Insurance Capital Standard. For more information, visit the consultation page.
The Aggregation Method data collection
The IAIS has agreed to collect data from interested jurisdictions to aid in the development of the AM. The AM data collection is separate from ICS Confidential Reporting and is open to US-based Volunteer Groups and any other jurisdiction/Volunteer Group at the option of the group-wide supervisor. The documents supporting the data collection in the most recent year is available below. All documents related to previous years can be accessed here.