Core Elements of Insurance Supervision

Source details

Target Audience: Insurance Bank supervisors.
Qualifications: Participants should be familiar with basic insurance regulation and supervisory procedures.

Comprehensive view of conceptual and operational issues related to insurance regulation and supervision.
Elements covered include:
- Micro- and macroprudential supervision.
- The Insurance Core Principles (purpose of supervision, corporate governance of insurers, prudential and market conduct requirements for insurers).
- Insurance regulation developments.
- Basic actuarial concepts.
- The pricing of products.
- Assessment of insurers' financial condition (review of insurance company balance-sheet and technical provisions, estimation of liabilities and valuation of assets).
- Assessment of operational risks (pricing, underwriting and reinsurance).
- Assessment of insurer's market conduct issues.

Discussions and exercises on concrete applications and approaches used by supervisors, including:
- The design of supervisory plans and determination of supervisory priorities.
- Exercises simulating supervisory routines and analysis that complement the lectures.
Participants are expected to provide their own perspectives on and experience with the issues covered in the course.

Upon completion of this course, participants should be able to:
- Identify and explain the main components of the prudential regulatory framework for the insurance sector.
- Describe effective supervisory approaches and tools.
- Extract lessons from previous financial stability threats to try to prevent their recurrence.