IAIS – Consultation – Snippets

  • (p45) – Q15 – Is the list of products and activities set out in Annex 1 representative of the insurance activities and products that are conducted in the listed jurisdictions? Are there other products and activities that should be added to the list, for example because they have similar features as those in Annex 1? To what extent, if any, will the analysis of the products and activities in Annex 1 allow for the consistent application of the NTNI concept across jurisdictions? Also, are there additional or alternative terms for the listed products and activities that should be added to improve the completeness and clarity of the list?
  • (p47) – Q15 Stakeholders comments
    • Universal life is missing from the list…
      • on behalf of the European GSIIs, Aegon, Allianz, Aviva, Axa and Prudential
      • Association of British Insurers
  • (p48) – Q15 IAIS response

    • (ii) the IAIS decided to discontinue the NTNI product label and to focus on substantial liquidity risk and macroeconomic exposure and their related systemic risk transmission channels, the IAIS believes that it is no longer necessary to proceed with the publication of a list of products as proposed in the CD.

    • It is worth noting that the list of product features, and by extension products considered for the purposes of Phase Il Minimum Guarantees on Variable Product indicator calculation, remains unchanged from the 2013 methodology.

2016 0720 – IAIS – NTNI Consultation Document IAIS Responses to Comments – 51p

  • GFIA: In addition, GFIA is concerned that the meaning of “fair treatment of consumers” may be considered different from, or in addition to, legally prescribed standards.
  • IAIS: The terms “fair” and “unfair” are well established and understood in the ICPs. The paper must be read with this understanding in mind.  (p4)

2021 0823 – IAIS – Resolution of public consultation comments on draft Issues Paper on Insurer Culture, 23 June – 23 August 2021 – 46p

2021 – IAIS – Public Consultation on draft Issues Paper on Insurer Culture  —  [BonkNote]