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

Latest news on insurance regulation
News Trade Credit Insurance Banking Rules Insurance Regulation
Important developments in treatment of credit insurance under EU banking rules
3 Mar 2022
Credit insurance is an important tool used by banks in certain trade-financing arrangements to mitigate their credit risk exposure.
More info
News Asia committee Surety Banking Rules ESG Insurance Regulation State Aid Tech & Innovation
India publishes guidelines for surety market
11 Jan 2022
The Insurance Regulatory and Development Authority of India (IRDAI) published finalised guidelines on 3 January 2022, setting out for the first time, rules governing surety business in India.
More info
News Reinsurance Trade Credit Insurance Insurance Regulation State Aid
Analysis: Credit Insurance Schemes – What would have happened without them?
29 Sep 2021
More info
See all news on insurance regulation
Latest publications on insurance regulation
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
Regulatory Sub Committee Surety Committee Surety Report Insurance Regulation
30 Aug 2019
See all publications on insurance regulation
Any questions on the topic?

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

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Daniel de Búrca
Daniel de BúrcaHead of Public Affairs
+31 (0)6 57 396 020