IAIS Insurance Core Principles (ICPs)
ICP 16: Enterprise risk management for solvency purposes – IAIS Insurance Core Principles (ICPs)

IAIS Insurance Core Principles (ICPs) 16.15: 16.15 Recovery planning: options evaluated in advance; regular assessment of who needs a plan; plans for systemic or critical insurers kept current

The supervisor requires insurers to evaluate in advance their specific risks and options to recover from severe stress, regularly assesses against established criteria of nature, scale and complexity which insurers must have a recovery plan, requires at minimum a recovery plan for any insurer assessed as systemically important or critical if it fails, and ensures a required plan is in place, regularly reviewed and updated when necessary.

Maintained by Gerard BlokdykControl text last updated

Other controls in ICP 16: Enterprise risk management for solvency purposes – IAIS Insurance Core Principles (ICPs)

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