Objectives

  • Seeking alignment of regulatory requirements in North America with insurance industry sound practices in risk management, and harmonization of these requirements across jurisdictions.

  • Seeking alignment of rating agency capital and liquidity assessments with sound industry practices in risk management

  • Promoting the development and assessment of capital requirements based, in part, on internal company-developed risk models and the appropriate recognition of the benefits of risk identification, risk controls, and risk diversification

  • Influencing the development of new risk disclosures, as they may be required by regulatory bodies, by developing considered responses to such regulatory proposals

  • Producing and distributing occasional position papers on topical risk management issues.