Represents insurance supervisory authorities from about 100 jurisdictions. It promotes cooperation among insurance regulators; sets international standards for insurance supervision; provides training for its members; coordinates work with regulators in other financial sectors and international financial institutions. (Visit www.iais.org).
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IAIS is the forum which represents the Association of Insurance Regulators worldwide. IAIS represents Insurance Regulators an Supervisors of some 190 jurisdictions in nearly 140 countries, constituting 97% of the world’s insurance premiums. IAIS has drafted insurance core principles (ICPs), which provide the globally accepted framework for insurance sector. This has become a guidance document for the insurance regulators globally and the level of development of regulatory framework in a country is measured with reference to the benchmarks set by IAIS in the form of core principles.