Public Consultation on draft revised Application Paper on Supervisory Colleges 

Comments due by 24 August 2021

Background

The IAIS is seeking feedback, through public consultation, on the draft revised Application Paper on Supervisory Colleges. Feedback on this material is invited by 24 August 2021 at 24:00 CEST (Basel time).

This Application Paper was initially published in October 2014. The Paper has been updated to reflect subsequent developments of IAIS supervisory material, in particular revisions to ICP 3 (Information Sharing and Confidentiality Requirements) and ICP 25 (Supervisory Cooperation and Coordination) and the adoption of ComFrame, which took place in November 2019. The Paper has also been revised to reflect other relevant developments and to focus its content on those aspects of supervisory college operations that are most relevant from the perspective of the insurance industry.

The Paper describes the processes and practices related to the establishment and functioning of supervisory colleges for insurance groups with cross-border activities. The objective of the Paper is to foster an understanding of the work of supervisory colleges and to explain the role and involvement insurers may have in supervisory colleges.

Due to the volume of changes, the revised Paper is presented only in a clean version.

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.