## United States: Financial Sector Assessment Program-Technical Note-Insurance Supervision and Regulation

_IMF Staff Country Reports, August 10, 2020_

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## Bibliographic details
- Published: August 10, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513552897.002

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### Summary
- This Technical Note (TN) is a targeted review of cross-cutting themes building on the detailed assessment of the Insurance Core Principles (ICPs) conducted in 2015.
- The targeted review was chosen, in part, due to the performance of the U.S. insurance regulatory system in the 2015 detailed assessment where it was assessed that the U.S. observed 8 ICPs, largely observed 13 ICPs and partly observed 5 ICPs.
- The analysis relied on a targeted self-assessment against a subset of ICPs covering valuation and solvency, risk management, conduct, winding-up, corporate governance and enforcement, and the objectives, powers and responsibility of supervisors.
- The choice of subjects covered in this review is based on those aspects most significant to financial stability and a follow-up on key recommendations from the 2015 detailed assessment.
- The focus of the analysis has been on the state-based system of regulation and supervision, reflecting the existing institutional setup.

### Scope and Focus
- Targeted ICP subset:
  - Valuation and solvency
  - Risk management
  - Conduct
  - Winding-up
  - Corporate governance and enforcement
  - Objectives, powers and responsibility of supervisors
- Institutional focus:
  - State-based system of regulation and supervision

### Key findings and metrics from the 2015 baseline (as referenced)
- ICP assessment outcomes in 2015:
  - Observed: 8 ICPs
  - Largely observed: 13 ICPs
  - Partly observed: 5 ICPs

### Subjects and keywords
- Subjects: Environment; Financial institutions; Financial sector policy and analysis; Financial statements; Insurance; Insurance companies; Natural disasters; Public financial management (PFM); Solvency
- Keywords: balance sheet; CR; federal government; financial condition; Financial statements; Global; holding company; Insurance; Insurance companies; insurance regulator; ISCR; life insurance; Natural disasters; risk management; Solvency; State insurance act; state insurance department; State insurance regulator; State regulator

*International Monetary Fund. Monetary and Capital Markets Department "United States: Financial Sector Assessment Program-Technical Note-Insurance Supervision and Regulation", IMF Staff Country Reports 2020, 244 (2020).*

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## Content in this bundle

- **Executive Summary**
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_Source: https://www.imf.org/en/publications/cr/issues/2020/08/07/united-states-financial-sector-assessment-program-technical-note-insurance-supervision-and-49653_