September 23, 2020

IAIS Global Seminar hosted by CIMA Starts On Monday (18)

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The International Association of Insurance Supervisors (IAIS) Global Seminar and Triennial Committee Meetings hosted by CIMA will take place at the Ritz Carlton on Monday 18th until 21st June.

CIMA will host 120 delegates from around the world for the event, which takes place from Monday, 18 June to Thursday, 21 June. The delegates are comprised of IAIS Members and Observers from Switzerland, Germany, Austria, China, Luxembourg, Liechtenstein, Japan, Korea, Ghana, South Africa, Slovenia, Slovakia, Bahrain, USA, Mexico, Panama, Brazil, Canada and Australia.  Representatives from the International Monetary Fund (IMF) and the World Bank (WB) will also be in attendance

Established in 1994, the IAIS represents insurance regulators and supervisors of some 190 jurisdictions in nearly 140 countries, constituting 97% of the world’s insurance premiums. It also has more than 120 observers. Its objectives are to promote effective and globally consistent supervision of the insurance industry in order to develop and maintain fair, safe and stable insurance markets for the benefit and protection of policyholders; and to contribute to global financial stability.

Since 1999, the IAIS has welcomed insurance professionals as Observers. Currently there are more than 120 Observers representing industry associations, professional associations, insurers and reinsurers, consultants and international financial institutions. The IAIS issues global insurance principles, standardsand guidancepapers, provides training and support on issues related to insurance supervision, and organises meetings and seminars for insurance supervisors. 

The IAIS works closely with other financial sector standard setting bodies and internationalorganisations to promote financial stability. It holds an Annual Conference where supervisors, industry representatives and other professionals discuss developments in the insurance sector and topics affecting insurance regulation.

An Executive Committee, whose members represent different geographical regions, heads the IAIS. It is supported by three main committees – the Technical Committee, the Implementation Committee and the Budget Committee. These committees form subcommittees and working parties (working groups, task forces and groups) to accomplish their objectives.

 

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