Watchdog To Craft 1st Global Capital Standard For Insurers

Law360, New York (October 9, 2013, 4:20 PM EDT) -- An international insurance watchdog said Wednesday it plans to develop the first-ever global capital standard for internationally active insurance groups by 2016 and implement it by 2019.

The International Association of Insurance Supervisors has been working on a comprehensive framework for supervising global insurers since 2010, but the watchdog did not decide until now whether also to pursue a global insurance capital standard.

The IAIS said it will use the capital component of a solvency assessment developed under the comprehensive framework, or ComFrame, as a starting...
To view the full article, register now.