IIF Authors

Status: Will be live at 10/30/2018 00:00

Joint IIF/GA Response Letter to the IAIS Overall ComFrame Consultation

Tuesday, October 30, 2018

The Task Force focused on more high level issues linking to the current developments in the ICS, Systemic Risk, as well as recovery and resolution planning. As a general message, the Joint Task Force believes that efforts to address these moving parts of insurance policy should be well-coordinated and cohesive. Together with comments on recovery and resolution planning, the response addresses the following key themes:

  • ComFrame, the ICS, and other ongoing global insurance regulatory policy initiatives should form a comprehensive and integrated insurance policy framework
  • ComFrame should allow for a wide range of regulatory frameworks and effective supervisory approaches'
  • Disconnects between the Insurance Core Principles (ICPs)/ComFrame and the ICS must be addressed
  • ComFrame components should be better aligned.