IAIS Executive Committee takes steps to mitigate impact of COVID-19 on the insurance sector

Category

Undertakings, Other

Description

The IAIS (International Association of Insurance Supervisors) has adopted measures to address the consequences of COVID-19 on the global insurance sector and the IAIS’ activities. These measures include, in particular, adjustments to its work programme to provide operational assistance to supervisors, insurers and other stakeholders.

The IAIS will continue to monitor the situation closely and assess the impact of the steps taken to limit contagion on the global economy and, consequently, on the financial system, taking further steps, as necessary.

The IAIS is actively coordinating with the Financial Stability Board (FSB) and other international standard setting bodies on cross-cutting financial system issues and is committed to fostering a coordinated supervisory response in support of policyholder protection and the maintenance of financial stability.

issue date

30 March 2020