IAIS Insurance Core Principles (ICPs) 4.5: Refusal where requirements are unmet, conditions where appropriate, and reasons given

What does 4.5 require?

The supervisor refuses a licence where the requirements are not met, imposes additional requirements, conditions or restrictions where appropriate when it grants one, and explains any denial, condition or restriction to the applicant.

Maintained by Gerard BlokdykControl text last updated 21 May 2026

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

4.1 4.1 Legislation defines insurance activities, prohibits unauthorised activity, sets legal forms, allocates licensing and provides for foreign insurers
4.2 4.2 Licensing as the control over who may conduct insurance
4.3 4.3 Clear, objective, public and consistently applied licensing requirements: plans, structure, suitability, governance, capital
4.4 4.4 Decisions within a clearly specified reasonable time
4.6 4.6 A licence states its scope
4.7 4.7 A published list of licensed insurers and licence scopes
4.8 4.8 Consultation with the relevant supervisor on foreign branches and subsidiaries
4.9 4.9 Host consults home before allowing cross-border activity without physical presence

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