This note drafted by staff from the IAIS, BIS Financial Stability Institute (FSI) and the Swiss Financial Market Supervisory Authority (FINMA) examines how reinsurers’ pricing and underwriting practices may affect affordability and availability of coverage for NatCat events.
An FSI Insights note has been published today entitled “Mind the climate-related protection gap – reinsurance pricing and underwriting considerations”. The note was drafted by staff from the IAIS, BIS Financial Stability Institute (FSI) and the Swiss Financial Market Supervisory Authority (FINMA).
The note analyses key design elements of parametric insurance for natural catastrophe risks and synthesises insights from a survey with insurance authorities and industry participants.
The IAIS has published its report: A call to action: the role of insurance supervisors in addressing natural catastrophe protection gaps. The report outlines five significant areas where supervisors can help address the NatCat protection gaps, underpinned by examples of action already underway by IAIS members. The report provides a basis for further engagement amongst insurance supervisors and stakeholders and outlines concrete follow-on actions.
The report outlines five significant areas where supervisors can help narrow the NatCat protection gaps, underpinned by examples of action already underway by IAIS members. The report provides a basis for further engagement amongst insurance supervisors and stakeholders and outlines concrete follow-on actions.
This is an un-official Spanish translation of the stocktake report that was originally published in December 2022.
The IAIS today published a statement outlining its commitment to further support insurance supervisors’ actions to address protection gaps and highlights the IAIS’ focus areas for 2023.
The IAIS and A2ii have published a joint note focusing on the role of supervisors in the design, development and implementation of insurance-based programmes to address pandemic protection gaps, and outlining the role that supervisors can play as future initiatives are developed.
