ComFrame must build on existing regulations, say insurers
Prescriptive international regime would be 'very challenging' for firms
Insurers are urging global standard-setters to allow for the mutual recognition of existing regulatory regimes within ComFrame amid fears that the new guidelines are too prescriptive.
The International Association of Insurance Supervisors (IAIS) unveiled an updated draft of ComFrame last week during the association's 20th annual conference in Taipei. The new version includes substantial changes to the capital adequacy assessment guidance to accommodate the IAIS's planned global insurance capital
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