Public Consultation on draft Issues Paper on Insurer Culture

Comments due by 23 August 2021

Background

The IAIS is seeking feedback, through public consultation, on the draft Issues Paper on Insurer Culture. Feedback on this material is invited by 23 August 2021 at 24:00 CEST (Basel time).

The paper explores the concept of insurer culture as a point of intersection for prudential and conduct risks, with examples to illustrate the broader role of culture in managing these risks. Understanding the various elements that make up insurer culture, which in turn inform certain decisions, behaviours and practices across an insurer’s business, can be critical in helping supervisors identify and address prudential and conduct issues in a more timely and effective manner. This could potentially reduce the occurrence of widespread misconduct and possible financial and consumer harm.

A public background session will be held via webinar on Wednesday, 30 June 2021 to present the consultation document. Click here for details and registration.

How to provide feedback:

Please use the Consultation Tool available at the consultation page of the public section (accessed below) to provide your comments. Instructions for use are available when you access the Tool. Please note that only comments submitted through the Tool will be considered. All comments will be published on the IAIS website unless an option in the Tool to keep comments confidential is chosen.

Please note that some formatting (eg bullet points) may not be preserved when copying and pasting your comments into the Consultation Tool from other software such as Microsoft Word.