Date: August 8, 2014
Issue: Consultation Paper
To: International Association of Insurance Supervisors
Filing Type: International
Description: The U.S. Chamber of Commerce (“Chamber”) is the world’s largest business federation representing the interests of more than three million companies of every size, sector, and region. Our members include purely U.S. domestic, as well as international and globally active insurance companies headquartered both in and outside of the United States. Perhaps more importantly we have member companies that rely both on insurance products as well as the larger role insurance plays as an investor in our globally interconnected economy. Therefore, we are broadly supportive of the goal of ensuring the solvency of insurance companies and safeguarding against systemic risk; however, we remained concerned over the IAIS work plan for developing capital standards over the next few years.