The IAIS has published for consultation its Issues Paper on roles and functioning of Policyholder Protection Schemes (PPSs). The 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. Comments are due by 14 April 2023.
The IAIS has just launched the public consultation on the Issues Paper on Insurance Sector Operational Resilience. The paper identifies issues impacting operational resilience in the insurance sector, with a focus on cyber resilience, third-party outsourcing and business continuity management.
Background information The IAIS continues to enhance the Holistic Framework for systemic risk in insurance, including through its triannual review of the risk assessment in the Global Monitoring Exercise. In support of this effort, the IAIS conducted a public consultation seeking input on the individual insurer monitoring (IIM) assessment methodology used to calculate individual insurers’ […]