IAIS Insurance Core Principles (ICPs)

ICP 12: Exit from the market and resolution – IAIS Insurance Core Principles (ICPs)

IAIS Insurance Core Principles (ICPs) 12.5: Clearly defined roles of the authorities involved in exit and resolution

What does 12.5 require?

The roles and responsibilities of the authorities within the jurisdiction that are involved in insurers' exit from the market or their resolution are clearly defined.

Maintained by Gerard BlokdykControl text last updated 21 May 2026

Other controls in ICP 12: Exit from the market and resolution – IAIS Insurance Core Principles (ICPs)

12.1 12.1 A legislated framework for voluntary exit that protects policyholders
12.10 12.10 High legal priority for policyholders' claims in liquidation
12.11 12.11 Resolution powers respect the claims hierarchy and no creditor worse off than in liquidation; departures from equal treatment substantiated
12.12 12.12 Legislation states whether insurance liabilities may be restructured and whether policyholders may absorb losses
12.13 12.13 Mechanisms to resolve the head of a domestic insurance group
12.14 12.14 Authority to resolve a foreign insurer's branch, coordinated with the home authorities
12.2 12.2 A legislated resolution framework that protects policyholders and absorbs losses in the claims hierarchy
12.3 12.3 Processes and procedures to prepare for and conduct resolution

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