The NAIC Encourages Stakeholder Feedback on IAIS Draft Criteria
The International Association of Insurance Supervisors (IAIS) has launched the public consultation on the draft criteria that will be used to assess whether the Aggregation Method provides comparable outcomes to the Insurance Capital Standard (ICS).
An explanatory note providing further background information on the comparability assessment project and the proposed draft criteria accompanies the consultation document.
The NAIC encourages stakeholder feedback on the draft criteria to provide a range of perspectives on this unprecedented area of work and gauge views on the appropriateness of the draft criteria. Feedback to the IAIS is invited by 15 August 2022.
About the National Association of Insurance Commissioners
As part of our state-based system of insurance regulation in the United States, the National Association of Insurance Commissioners (NAIC) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers. The U.S. standard-setting organization is governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally.