When stimulating innovation, there are limits to what a supervisory authority can achieve alone. Inter-institutional cooperation is a powerful tool for responding to new market trends and for creating a safe space for the launch of new initiatives. This call took a closer look at what those cooperation platforms look like. Case studies were used to explore what the role of the insurance supervisor looks like within them, and pulled together a number of aspects that supervisors might need to consider when pioneering such an approach.
Consultation Call Reports
The use of index insurance as an alternative to traditional indemnity-based insurance has increased over the last twenty years, particularly as a mechanism for insuring against extreme weather risks.
On this call, we explored what MSMEs are and why they are important. We talked about the risks that MSMEs generally face, how they manage them, and their insurance needs. The resulting report attempts to establish some characteristics that an effective MSME insurance product should have, and presents findings for supervisors on their role in supporting and overseeing the MSME insurance market.
Here you will find the summary and presentations of the consultation call of 21 September 2017.
Here you will find the summary and presentations of the 23rd consultation call
There is growing awareness of the exposure of countries, private and public sector entities and individuals to potentially crushing economic loss as the result of natural disasters. There is also a recognition that the insurance sector has an important role to play in helping to assess risk, promoting loss prevention and mitigation and in risk financing for sovereigns, sub-sovereigns and others. This call explored the important role that insurance regulation plays in facilitating the deployment of insurance sector resources at the macro, meso and micro level in a
The insurance penetration rate is traditionally calculated based on total premiums as a percentage of Gross Domestic Product (GDP). This has served as a useful high-level measure of insurance development, while providing a good basis for international comparison. However, supervisors pursuing more specific policy goals, such as financial inclusion or client value, may find that this measure on its own does not provide enough meaningful information to guide policy strategies.
In response to requests from the IAIS Executive Committee as well as Latin American supervisors the next A2ii-IAIS Consultation Call will be on the topic of reinsurance. The call focused on reinsurance from a host jurisdictions perspective and will examine questions around enforcement of contracts, direct and indirect supervision of reinsurers and contract oversight among other issues.
On the topic: There has been a rapid growth in mobile insurance, especially over the past five years. Yet for a domain where so much is happening and where more players (e.g. mobile network operators, technical service providers) and regulators are getting involved, there is still little information about the potential risks and corresponding solutions. In particular, the topic of data protection – the regulatory measures taken to protect personal data – has not received much attention.
On the topic: In many ways, migrants are more vulnerable than locals. They frequently work in high-risk, low-wage jobs, tend to be excluded from social protection and healthcare in the host country, and oftentimes lack the support of local communities. Moreover, their families in home countries often depend on them for financial support, especially in times of emergencies.