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International Association Of Insurance Supervisors

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Chapter Summary

The International Association of Insurance Supervisors (IAIS) is an independent non-governmental organization with the main objective of advancing the supervision of the insurance industry, at both the domestic and international level, in order to maintain efficient, fair, safe, and stable insurance markets. The IAIS began in 1994 in Basel, Switzerland as an international response to the globalization of insurance markets and the instability of financial markets. The IAIS is composed of and represents insurance regulators and supervisors. The authorities of the IAIS are the General Meeting of Members, the Executive Committee and its committees and subcommittees, and the Secretariat. The primary source of income for the IAIS is its membership or annual fees. The IAIS is a relatively new transnational organization. Th e IAIS spent nearly a decade forming the organizational infrastructure and establishing principles and standards on which to build.

Keywords: insurance industry; International Association of Insurance Supervisors (IAIS); organizational structure; transnational economic governance



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