IAIS issues public consultations on its ICPs and product oversight in inclusive insurance

The International Association of Insurance Supervisors (IAIS) has launched public consultations on the following:

  • draft provisions of its Insurance Core Principles (ICPs): ICP 1 (Objectives, Powers and Responsibilities of the Supervisor), ICP 2 (Supervisor), ICP 18 (Intermediaries) and ICP 19 (Conduct of Business);
  • an application paper on product oversight in inclusive insurance, which is intended to provide guidance to supervisors, regulators and policymakers when considering, designing and implementing regulations and supervisory practices on product oversight in inclusive insurance markets.

Public background calls will be held by teleconference, details of which the IAIS will announce separately, to discuss the draft proposals above and the IAIS invites comments for feedback by 29 August 2017.