Internationally active insurance groups (IAIGs) will want to consider the implications of recent guidance from international insurance regulators on capital standards. These standards.
On April 6, 2022, the Canadian Insurance Services Regulatory Organization (“CISRO”) adopted the Principles of Conduct for Insurance Intermediaries (“Principles”). In conjunction with.
<p><span>Stress tests are forward-looking exercises that aim to evaluate the impact of severe but plausible adverse scenarios on the resilience of financial firms. They involve the use of models and data at the firm or system-wide level and may rely on historical or hypothetical scenarios.</span></p>
<p><span>The Insurance Core Principles (ICPs) provide a globally accepted framework of principles, standards and guidance for the regulation and supervision of the insurance sector. They were developed by the International Association of Insurance Supervisors (IAIS) and apply to its member jurisdictions regardless of the level of development and sophistication of their insurance markets and the type of insurance products or services supervised. Initially adopted in 2011 and amended four times (the most recent amendments coming in 2019) the ICPs contain 24 principles.</span></p>