Trade associations blast ‘flawed’ Basic Capital Requirement
Industry groups in US and Europe voice 'deep concerns' with calibration of future requirement for world’s largest insurers
Insurance industry groups have condemned the Basic Capital Requirement (BCR) proposal for global systemically important insurers (G-Siis) as bankcentric and out of kilter with insurers' business models.
The International Association of Insurance Supervisors (IAIS) closed its second consultation on the BCR on August 8. A number of industry responses have been made publicly available, many expressing deep concerns with the proposal. Insurance Europe wrote that certain omissions could prove "fatal
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