Transparency in the Insurance Core Principles

Abstract

The Insurance Core Principles (ICPs) developed by the International Association of Insurance Supervisors (IAIS) provide a globally accepted framework of principles, standards, and guidance for the regulation and supervision of the insurance sector. In setting the principles, the IAIS takes accounts on the concept of transparency and implements the relevant measures into the insurance environment. Given the fact that the ICPs inspire national regulations and constitute an important point of reference for national legislators, this chapter provides an overview of transparency measures presented in the ICPs.