India : Financial Sector Assessment Program—Detailed Assessments Report on IAIS Insurance Core Principles

Publication Date: August 29, 2013
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Summary: This paper discusses key findings of the assessment of India’s compliance with the International Association of Insurance Supervisors Insurance Core Principles (ICP). Indian Regulatory and Development Authority (IRDA) has so far decided that India is not yet ready for a full transition to cutting-edge international approaches owing to informational and skills shortages and a continuing lack of international consensus. Certain prudential ICPs come under this heading, and IRDA will need to augment its resources in its core supervisory departments if it is to introduce a rigorous corrective action and enforcement regime built on a risk-based approach to the capital and operational management of insurers.
Series: Country Report No. 13/265
Subject(s): Insurance regulations | Insurance supervision | Financial Sector Assessment Program | Reports on the Observance of Standards and Codes | India

Publication Date: August 29, 2013
ISBN/ISSN: 9781484363188/1934-7685 Format: Paper
Stock No: 1INDEA2013003 Pages: 89
US$18.00 (Academic Rate:
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