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5 Dec 2024
ICS economic impact assessment report
The ICS Economic Impact Assessment report, conducted ahead of the actual implementation of the ICS as a Prescribed Capital Requirement for IAIGs, is qualitative and delves into potential effects of the implementation of the ICS across jurisdictions, evaluating impacts on insurance products, investment policies, capital, and business models, assuming consistent implementation of ICS specifications.
5 Dec 2024
ICS calibration document
The ICS calibration document provides explanations on the calculation of the different ICS risk charges and their aggregation. Detailed information is made available for all risk modules within Insurance risks, Market risks, Credit risk and Operational risk, as well as for correlation matrices used for aggregating risk charges.
2 Dec 2024
FSI and IAIS publish joint note on parametric insurance
In a joint note entitled “Uncertain waters: can parametric insurance help bridge NatCat protection gaps?”, staff from the IAIS and BIS’s Financial Stability Institute (FSI) present the results of a study on parametric insurance coverage for natural catastrophe (NatCat) risks, focusing on its design elements.
2 Dec 2024
FSI IAIS Insights on parametric insurance
The note analyses key design elements of parametric insurance for natural catastrophe risks and synthesises insights from a survey with insurance authorities and industry participants.
27 May 2024
IAIS contributes to G7 framework on public-private insurance programmes against natural hazards
This work, under the Italian Presidency, emphasises the crucial role of insurance, insurance supervisors and governments in addressing the financial impacts of natural hazards.
7 Dec 2023
Update on IAIS work on artificial intelligence and machine learning in insurance
Today, the IAIS issued a short summary of its ongoing efforts in the area of the adoption of artificial intelligence and machine learning (AI/ML) in the insurance sector. In view of the rapid advancements in AI/ML technologies, in 2023 the IAIS FinTech Forum conducted a thematic review of existing guidance on AI/ML and model risk […]
7 Dec 2023
Regulation and supervision of AI/ML – a thematic review
This is a short summary of the thematic review undertaken by the FinTech Forum on existing guidance on artificial intelligence/machine learning and model risk management from 12 supervisory authorities and international organisations.
6 Nov 2023
IAIS outlines actions for insurance supervisors in addressing natural catastrophe protection gaps
The IAIS has published its report: A call to action: the role of insurance supervisors in addressing natural catastrophe protection gaps. The report outlines five significant areas where supervisors can help address the NatCat protection gaps, underpinned by examples of action already underway by IAIS members. The report provides a basis for further engagement amongst insurance supervisors and stakeholders and outlines concrete follow-on actions.
6 Nov 2023
IAIS Report: A call to action: the role of insurance supervisors in addressing natural catastrophe protection gaps
The report outlines five significant areas where supervisors can help narrow the NatCat protection gaps, underpinned by examples of action already underway by IAIS members. The report provides a basis for further engagement amongst insurance supervisors and stakeholders and outlines concrete follow-on actions.