Ensuring that global rules deliver value to policyholders
Following the financial crisis, the International Association of Insurance Supervisors (IAIS) launched the ComFrame project, which aimed to develop a common framework for supervising internationally active insurance groups (IAIGs). This has now transformed into a much more ambitious project, namely developing capital standards for IAIGs.
Given the diversity of regulatory systems around the world, a considerable amount of work needs to be done to ensure that these new rules both achieve their initial goals and do not cause unintended consequences. This is why Insurance Europe is engaging with policymakers around the world to ensure that the new rules deliver real value to policyholders, without placing unnecessary burdens on the insurance industry.