Moscow set to host IAIS committee meetings in 2018, in addition to the 11th Global Seminar of insurance market regulators and participants
The Bank of Russia will be coordinating meetings for the committees of the International Association of Insurance Supervisors (IAIS), to be held in Moscow from 23 to 25 July 2018, in addition to hosting 11th Global Seminar of insurance regulators and insurance market participants.
The task of the IAIS, established in 1994, is to promote effective and globally consistent regulation and supervision of the insurance industry, in order to protect insurance policyholders and contribute to financial stability. The IAIS consists of more than 200 insurance regulators from nearly 140 countries. In carrying out this task, the IAIS develops standards and principles for insurance regulation and supervision, assists in their implementation and provides a forum for the interaction of insurance supervisors.
The Bank of Russia is a member of the IAIS as the successor of the Federal Financial Markets Service of the Russian Federation. Bank of Russia management and specialists are active participants in most IAIS committees and working groups.
IAIS committee meetings are held in private. During these meetings, representatives of regulators and IAIS members across different jurisdictions discuss and approve documents, principles, standards and recommendations, prepared by the working groups of the association, in order to make strategic decisions on further work.
The Global Seminar is an annual event enabling insurance regulators, representatives of insurance companies and other stakeholders to discuss progress in the development of international standards of insurance regulation, as well as key trends and issues in the insurance market.
The registration for the Global Seminar will be launched in the first quarter of 2018.