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2012 Charges
- Assist the Task Force with the group focus area in the Solvency Modernization Initiative.
- Study the need to develop group-wide supervision, which may include group-wide capital requirements. The study should consider possible approaches to such capital requirements, including how capital for financial conglomerates and non-regulated entities is calculated.
- Monitor state insurance regulators supervisory college activity and recommend courses of action for other methods of communication and coordination among cross-border (including cross-state) and cross-sectoral supervisors, if needed.
- Critically review and provide input and drafting to the IAIS Insurance Groups and Cross-Sectoral Issues Subcommittee or on other IAIS papers as assigned by the parent Task Force. From this work, identify future initiatives to improve our regulatory solvency system.
- Consider the development of a regulatory resource such as the Own Risk and Solvency Assessment (ORSA) to assess and monitor insurers’ and groups’ risk management processes.
—Essential
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