LONDON (Reuters) – The global insurance watchdog has launched a consultation on how to set up a new system making key firms hold enough capital to avoid a collapse that would pose a risk to the financial system.
The International Association of Insurance Supervisors (IAIS) on Monday released its proposed options for the development of 'basic capital requirements' for insurers it deems 'globally systemically important'.
The IAIS is inviting responses by Feb. 3 on how to run a system that assesses cross-border risks to firms in cases where it can be difficult to draw meaningful comparisons given different types of assets and exposure.
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