International Association of Insurance Supervisors and BIS Financial Stability Institute publish insights note on resourcing the next generation of insurance supervision

The International Association of Insurance Supervisors (IAIS) and the Bank for International Settlements’ Financial Stability Institute (FSI) published a joint Insights note on insurance supervisory resources, focusing on how supervisors can ensure they have the people and funding needed to deliver effective supervision in a changing market and mandate environment, as framed by Insurance Core Principle 2 (Supervisor). The note examines how supervisors identify and allocate human and financial resources, whether resources are sufficient to meet current and future demands, and strategies for efficient deployment. The analysis is informed by a survey of 23 insurance supervisory authorities across all IAIS regions with different mandates and institutional set-ups, complemented by a desktop review of assessment reports. Key findings emphasise that adequate resourcing and optimising the use of available resources are central to meeting supervisory mandates, and that supervisors should anticipate future pressures, manage resources cost-efficiently, and consider resourcing implications when supervisory mandates expand.