Date: October 19, 2016

Issue: Capital Standards; Insurance

To: International Association of Insurance Supervisors

Filing Type: Comment letter

Description: The Chamber made several recommendations aimed at making IAIS’ work more effective, including recommendations designed to make an insurance capital standard (ICS) complementary to and adaptable for multiple jurisdictions, to ensure that it promotes capital formation for economic growth. Accordingly, the Chamber urges IAIS to undertake careful deliberation, avoid completion of an ICS on any artificial timetable, and most importantly develop an ICS that is principle based, providing the necessary flexibility to accommodate different jurisdictions.

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