Public background session on the Public Consultation on Climate risk supervisory guidance

The IAIS hosted a virtual background session on Thursday, 29 March 2023 from 13:00 to 14:30 CEST, focusing on the First Climate Risk Consultation Paper.

This first consultation is part of a broader package of work and outlines proposed changes to the ICP Introduction, which positions climate risk within the global framework for insurance supervision. Additionally, the IAIS discusses whether it is necessary to make changes to the existing supporting material related to governance, risk management and internal controls (ICP 7 and 8). Finally, the consultation includes questions seeking stakeholder feedback on the climate-related work as it relates to supervisory guidance. This document also provides an update on the overall work programme of the IAIS in promoting a globally consistent supervisory response to climate change within the insurance sector.

Please find the slides for the session here and the recorded session below.