IAIS Insurance Core Principles (ICPs)
ICP 4: Licensing – IAIS Insurance Core Principles (ICPs)

IAIS Insurance Core Principles (ICPs) 4.3: Clear, objective, public and consistently applied licensing requirements: plans, structure, suitability, governance, capital

What does 4.3 require?

Licensing requirements and procedures are clear, objective, public and consistently applied, and an applicant must at least have sound business and financial plans, a corporate or group structure that does not hinder effective supervision, suitable Board Members individually and collectively, Senior Management, Key Persons in Control Functions and Significant Owners, an appropriate governance framework, and satisfy the capital requirements.

Maintained by Gerard BlokdykControl text last updated

Other controls in ICP 4: Licensing – IAIS Insurance Core Principles (ICPs)

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