Our Focus

Insurance Prudential Regulation

ICISA contributes to discussion on regulatory and policy developments affecting its members throughout the world. This includes issues which affect credit insurers, sureties and their reinsures directly, as well as providing the view from our industry on wider topics. Our aim is to inform key stakeholders about our industry and the impact of the evolving regulatory landscape on our members. ICISA engages on a wide range of matters, but keep a focus on a few core topics:

• The application of insurance prudential rules to credit insurance and surety
• The treatment of credit insurance within banking prudential rules
• The impact of state aid and intervention on private trade credit insurance markets
• The role of credit insurers and sureties in supporting a transition to greater sustainability in economies
• The challenges and opportunities presented by new technology, innovation and disruption in credit insurance and surety markets

Our members operate and are based throughout the world, but given the importance and prominence of European markets in our industry, Solvency II development remains a key focus for ICISA and our members. Research supported by ICISA has demonstrated the stability of the sector in the EU since the implementation of Solvency II. However, this does not mean the regime is perfect and we aim to provide insight from our members – both qualitative and quantitative to support improvements and the continued fair treatment of our members.

The lessons learned in the EU and in other advanced regulatory jurisdictions gives us the experience and knowledge to contribute to a range of issues on the prudential regulation of credit insurers and sureties around the world. We seek to follow an evidence-based approach to inform and educate regulators about our sector and the impact of new or proposed regulations.

Important issues which we are particularly engaged on include:

  • The fair and appropriate treatment of credit insurance and surety lines of business
  • The appropriate calibration of the standard formula approach under Solvency II (and other regimes)
  • The ability of firms of all sizes to utilise internal model approaches and their equal standing with standardised approaches
  • The importance of proportionality within prudential rules for insurers
  • Policyholder prioritisation when considering recovery and resolution matters

For more information, contact Daniel de Búrca

Any questions on the topic?

If you want to know more about this topic, feel free to contact us.

Daniel de Búrca
Daniel de BúrcaHead of Public Affairs
+31 (0)6 57 396 020
Latest news on insurance regulation
Reinsurance Trade Credit Insurance Insurance Regulation State Aid
What is the impact of trade credit insurance on the economy?
8 Sep 2022
ICISA’s view on the ESRB’s analysis of the Trade Credit Insurance sector
More info
News Surety Trade Credit Insurance ESG Insurance Regulation
Green investment plans create opportunities for surety and trade credit insurance
18 Aug 2022
Green investment lies at the heart of government policy around the world to respond to economic challenges faced today and the recovery from the pandemic. Trade Credit Insurance and Surety have an important role to play in delivering stability and certainty
More info
News Reinsurance Surety Trade Credit Insurance Insurance Regulation
EIOPA consults on approach to third country governance arrangements
9 Aug 2022
EIOPA issued a consultation on 1 August 2022 seeking feedback on its supervisory statement on the use of governance arrangements in third countries (i.e. non-EU member states) when providing services to EU/EEA clients.
More info
See all news on insurance regulation
Latest publications on insurance regulation
Trade Credit Insurance Correspondence Banking Rules Insurance Regulation
25 Jul 2022
Regulatory Sub Committee Trade Credit Insurance Report Insurance Regulation State Aid
29 Sep 2021
Credit Insurance Committee Trade Credit Insurance Position Paper Insurance Regulation
18 Mar 2021
Regulatory Sub Committee Surety Committee Surety Correspondence Insurance Regulation
30 Aug 2019
See all publications on insurance regulation