Regulator and Supervisor Related Sites

International Association of Insurance Supervisors (IAIS)

Established in 1994, the IAIS represents insurance regulators and supervisors of some 190 jurisdictions in nearly 140 countries, constituting 97% of the world's insurance premiums. It also has more than 120 observers. Members of IAIS along with the CGAP Working Group on Microinsurance make up the Joint Working Group on Microinsurance. On the IAIS website there are various issue papers, reports, and documents on microinsurance regulation and supervision available.

Insurance Industry Association for Benchmarking (IIAB)

The Insurance Industry Association For Benchmarking™ (IIAB™) targets specific information about the effectiveness of management processes in the insurance industry. The association is currently a free organization with fees assessed only when companies want to join specific research efforts. Membership is limited to individuals employed as regular employees of companies that provide insurance to third parties.

Associations for Cooperative Operations Research and Development (ACORD)

ACORD is a global, nonprofit standards development organization serving the insurance industry and related financial services industries. ACORD’s mission is to facilitate the development of open consensus data standards and standard forms. ACORD members include hundreds of insurance and reinsurance companies, agents and brokers, software providers, and industry associations worldwide. ACORD works with these organizations towards a goal of improved data communication across diverse platforms through implementation of standards.

The Egyptian Financial Supervisory Authority

The Egyptiian Financial Supervisory Authority, having a legal status, established in accordance to law 10 of the year 2009. The Authority is responsible for the supervison of non-bank financial markets and instruments, including the Capital market, the Exchange, all activities related to Insurance services, Mortgage Finance, Financial Leasing, Factoring and Securitization. The objective is to ensure market stability as well as to regulate the concerned activites, maximize their competitiveness to attract more local and foreign investments. The mandate of the Authority also includes limiting inconsisitency risks and addressing problems arising from applying different supervisory rules. In 2016, EFSA made the decision to begin regulating microinsurance in Egypt. Click here to learn more.

Superintendence of Private Insurance (Brazil)

The Superintendence of Private Insurance (SUSEP) is an autarchy created by the Decree-law #73/66 directly linked to Ministry of Finance. It is the executive body of the politics delineated by the CNSP and is also the insurance commissioner, responsible for the supervision and control of the insurance, open private pension funds and capitalization markets in Brazil. In 2003 the Regulator began working on establishing a framework for microinsurance. This site includes Brazil’s regulations and initiatives for microinsurance.

National Insurance Commission (Ghana)

The National Insurance Commission (NIC) was established under Insurance Law 1989 (PNDC Law 227) , but now operates under Insurance Act, 2006 (Act 724). The object of the Commission, as detailed in Act 724 is to ensure effective administration, supervision, regulation and control the business of Insurance in Ghana. The NIC regulates and has a definition for microinsurance in Ghana. For more information, see the Proposed Transitional Microinsurance Framework Explanatory Note.

Superintendencia de Banca, Seguros y AFP (Perú)

SBS is the entity in charge of regulating and supervising the financial, insurance, and private pensiones systems. SBS has a definition for microinsurance and regulates the industry, for which there have been recent changes. See Resolution 2829-2016 to learn more.

Financial Services Board (South Africa)

The Financial Services Board is a unique independent institution established by statute to oversee the South African Non-Banking Financial Services Industry in the public interest. Their website includes documents relating to South Africa's policies for microinsurance.

Philippines Insurance Commission

The Insurance Commission’s website provides information about the regulatory code specified for insurance and microinsurance.  The microinsurance regulations are not segregated from traditional insurance regulations. The site also contains a great deal of other reports and statistics about insurance in the Philippines.

Microinsurance Philippines

This blog contains articles on a variety of issues relating to microinsurance in the Philippines, but especially focuses on microinsurance regulation. As well as articles and links to documents about microinsurance in general, the blog includes links to the Commissioner’s site and the actual insurance codes used to regulate microinsurance.

Insurance Regulatory and Development Authority (India)

The IRDA website includes regulations and products lists for all types of insurance including microinsurance. Also on the site are annual reports and other statistics about insurance in India.

Quote of the Day

"Business as usual models are simply not going to work anymore" - Elliott Harris | Assistant Secretary-General, United Nations Environment Programme (UNEP)  

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