Spain: Financial Sector Assessment Program: Detailed Assessment of Observance of the IAIS Insurance Core Principles
June 14, 2006
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This paper presents a detailed assessment of the observance of the Insurance Core Principles (ICP) of the International Association of Insurance Supervisors (IAIS) in Spain. The IMF, for their assessment, consulted the review of a self-assessment prepared by the General Directorate of Insurance and Pension Funds (DGSFP), comments from Private Insurance Organization and Supervision Law (LOSSP) and other secondary regulations on the insurance activity, and notes and presentations on several regulatory and supervisory issues. Also, discusses the recommended action plan and authorities’ response to the assessment.
Subject: Financial institutions, Financial regulation and supervision, Insurance, Insurance companies, Insurance Core Principles, Insurance supervision, Internal controls, Revenue administration
Keywords: board of directors, CR, Europe, Global, Insurance, Insurance companies, Insurance Core Principles, insurance market, insurance supervision, Insurance supervision, Internal controls, ISCR, life insurer, nonlife insurance business, supervisory authority
Pages:
34
Volume:
2006
DOI:
Issue:
219
Series:
Country Report No. 2006/219
Stock No:
1ESPEA2006010
ISBN:
9781451812213
ISSN:
1934-7685
