The International Association of Insurance Supervisors has published the final Application Paper on operational resilience objectives and toolkit, setting out practical steps for insurers and supervisors to apply the Insurance Core Principles to operational resilience. The newsletter also highlights the addition of three new signatories to the IAIS Multilateral Memorandum of Understanding for confidential information exchange and the publication of member-only tools on artificial intelligence governance and supervisory technology. The Application Paper follows consultations in 2024 and 2025 and is structured around operational resilience objectives and a supporting toolkit for supervisory implementation, covering the link to governance and operational risk management, key regime elements, and objectives for supervisors including cross-authority coordination and stakeholder communication. The IAIS Multilateral Memorandum of Understanding, first launched in 2007, now has 90 signatories after accession by the Arizona Department of Insurance and Financial Institutions, the Minnesota Department of Commerce and the Superintendency of Banks of Guatemala, with the Signatories Working Group planning practical guidance on MMoU usage in 2026 including refined request templates and a use case repository. Other publications include member-only FinTech reports comprising a supervisory question bank on AI governance and risk management and a SupTech report, and a joint IAIS and BIS Financial Stability Institute note on insurance supervisory resourcing based on a survey of 23 authorities. Member-only webinars to support implementation are scheduled for 10 March and 23 April on the operational resilience paper, with additional member-only sessions on the AI question bank and SupTech on 5 March, 26 March, 28 April and 21 May. Looking ahead, the IAIS Operational Resilience Working Group will develop an analytical report on how insurance outsourcing to third parties may evolve and its implications for supervision.
International Association of Insurance Supervisors 2026-02-26
International Association of Insurance Supervisors publishes operational resilience objectives and toolkit and adds three new MMoU signatories
The International Association of Insurance Supervisors released the final Application Paper on operational resilience, detailing steps for insurers and supervisors to apply Insurance Core Principles. The IAIS announced three new signatories to its Multilateral Memorandum of Understanding, now totaling 90, and published member-only tools on AI governance and supervisory technology. Upcoming initiatives include webinars and an analytical report on insurance outsourcing to third parties.