Status: Draft -- Not PublishedWill be live at 12/19/2018 15:45
IIF Response to IAIS Application Paper Supervision of Corporate Governance
On December 17, 2018 the IIF responded to the IAIS Application Paper on Proactive Supervision of Corporate Governance. The response letter emphasized the need to:
- Recognize different board and governance structures among insurers, and the roles of the board, senior management and supervisors in addressing governance issues;
- Balance information requests and related burden on insurers;
- Consider the totality of the circumstances when employing “early warning” flags; and
- Provide for flexibility in the use of supervisory tools.