The International Association of Insurance Supervisors (IAIS) published the final Application Paper on operational resilience objectives and toolkit, intended to help insurers and supervisors apply the Insurance Core Principles (ICPs) to operational resilience through a high-level framework and practical implementation approaches. The paper sets out three overarching objectives covering the relationship between operational resilience, governance and operational risk management, the key elements of a sound operational resilience approach, and objectives for insurance supervisors, including coordination with other authorities, transparent stakeholder communication and continuous learning. IAIS notes greater convergence in supervisory practices on governance and management, alongside a wider variety of approaches to core regime elements. The final text follows consultations held in 2024 and 2025, with member-only webinars scheduled for 10 March on Objectives 1 and 2 and 23 April on Objective 3. In parallel, the IAIS Multilateral Memorandum of Understanding (MMoU) for confidential information exchange added the Arizona Department of Insurance and Financial Institutions, the Minnesota Department of Commerce and the Superintendency of Banks of Guatemala, taking the network to 90 signatories representing three-quarters of global gross written premiums, with practical guidance on MMoU usage planned for 2026. IAIS also released two member-only FinTech reports, a supervisory question bank on artificial intelligence governance and risk management and a SupTech report, supported by webinars on 5 March and 28 April for the AI tool and 26 March and 21 May for SupTech. Separately, the IAIS and the BIS Financial Stability Institute published a joint note on resourcing insurance supervision, drawing on a survey of 23 supervisory authorities and a desktop review to map approaches to assessing resource sufficiency, securing stable funding and allocating skills.
International Association of Insurance Supervisors 2026-02-26
International Association of Insurance Supervisors publishes operational resilience objectives and toolkit and expands its Multilateral Memorandum of Understanding to 90 signatories
The International Association of Insurance Supervisors (IAIS) released the final Application Paper on operational resilience, offering a framework for insurers and supervisors to apply Insurance Core Principles. The IAIS expanded its Multilateral Memorandum of Understanding network to 90 signatories and published FinTech reports on AI governance and SupTech. Additionally, a joint note with the BIS Financial Stability Institute was published on resourcing insurance supervision.