Seek alignment of regulatory requirements in North America with insurance industry sound practices, and harmonization across jurisdictions
Influence and inform through responses of potential new risk disclosures and position papers
Promote the development and assessment of capital requirements, recognizing internal company-developed risk models and risk identification, controls and diversification
The Council runs several committees that focus on financial risk, non-financial risk, strategic risk, regulatory affairs, governance and external stakeholder engagement.
We focus on developing relationships with external organizations, other than insurance companies, and an ongoing communication plan with those organizations to allow the N.A. CRO Council's position on key regulatory initiatives, financial risks, non-financial risks or risk management practices more generally to be shared.