Financial Sector Assessment Program Update : India - IAIS Insurance Core Principles

Financial Sector Assessment Program Update : India - IAIS Insurance Core Principles

This assessment of India's compliance with the International Association of Insurance Supervisors (IAIS) Insurance Core Principles (ICP) was carried out as part of the 2011 Financial Sector Assessment Program (FSAP). Although this is the secon...

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Bibliographic Details
Main Authors:	International Monetary Fund, World Bank
Format:	Financial Sector Assessment Program (FSAP)
Language:	English en_US
Published:	World Bank, Washington, DC 2013
Subjects:	ACCOUNTING ACCOUNTING STANDARD ACCOUNTING STANDARDS ACTUARIES ASSET LIABILITY MANAGEMENT ASSET POSITION ASSET-LIABILITY MATCHING AUDIT COMMITTEE AUDITORS BALANCE SHEET BANK ACCOUNT BANK EXPOSURE BANK EXPOSURES BANK LINKAGES BANKING SECTOR BASIS POINTS BONDS BROKER BROKERAGE BROKERS BUY-BACKS CAPITAL ADEQUACY CAPITAL MARKETS CAPITAL REQUIREMENTS CENTRAL GOVERNMENT CENTRAL GOVERNMENT DEBT CHECKS COMMERCIAL PAPER COMPETITIVE MARKET CONSUMER EDUCATION CONSUMER PROTECTION CONSUMERS CORE BUSINESS CORPORATE GOVERNANCE CORPORATE GOVERNANCE FRAMEWORK COVERAGE CREDIT RATINGS DEBT DEBT HOLDINGS DEBT INSTRUMENTS DEBT SECURITIES DEFICITS DEMOGRAPHIC DERIVATIVES DIRECT ACCESS DIRECT INSURANCE DIRECT INSURANCE COMPANIES DISCOUNT RATE DISCOUNT RATES DIVIDENDS DOMESTIC INVESTORS DOMESTIC REGULATOR DUE DILIGENCE EMERGING MARKETS EMPLOYEE BENEFIT ENFORCEMENT POWERS EQUITY MARKET EXIT MECHANISMS EXPENDITURE EXPENSE RATIO EXPENSE RATIOS EXPOSURE EXPOSURES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL PERFORMANCE FINANCIAL REPORTING FINANCIAL RETURNS FINANCIAL SECTOR FINANCIAL SECTOR INFRASTRUCTURE FINANCIAL STABILITY FINANCIAL SYSTEM FISCAL DISCIPLINE FRAUD FRAUDS FUND MANAGERS GENERAL INSURANCE GOVERNMENT BONDS GOVERNMENT GUARANTEE GOVERNMENT PAPER GOVERNMENT SECURITIES GROWTH RATES HEALTH INSURANCE HOLDING HOLDING COMPANY HOLDINGS INCOME INCOME LEVEL INCOME LEVELS INDIVIDUAL MARKET INDIVIDUAL SECURITIES INDUSTRIAL COUNTRIES INFLATION INFORMATION FLOWS INFORMATION SHARING INFRASTRUCTURE INVESTMENTS INSURANCE INSURANCE ACTIVITY INSURANCE BROKERS INSURANCE COMPANIES INSURANCE CORPORATION INSURANCE INDUSTRY INSURANCE LAW INSURANCE MARKET INSURANCE PENETRATION INSURANCE PREMIUMS INSURANCE PRODUCTS INSURANCE REGULATION INSURANCE REGULATIONS INSURANCE SUPERVISION INSURANCE SUPERVISORS INSURER INSURERS INTEREST RATE INTEREST RATES INTERNAL AUDIT INTERNAL CONTROL INTERNAL CONTROLS INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL BANK INTERNATIONAL INSURANCE INTERNATIONAL INSURANCE GROUPS INTERNATIONAL INVESTMENTS INTERNATIONAL PORTFOLIO INTERNATIONAL STANDARDS INVESTMENT ACTIVITIES INVESTMENT ASSETS INVESTMENT GOVERNANCE JOINT VENTURES JURISDICTION JURISDICTIONS LAWS LEGAL FRAMEWORK LEVEL PLAYING FIELD LEVY LIABILITY LIFE INSURANCE LIFE INSURANCE COMPANIES LIFE INSURANCE COMPANY LIFE INSURANCE PRODUCT LIFE INSURERS LOCAL CAPACITY MARKET CAP MARKET CONDITIONS MARKET INFRASTRUCTURE MARKET PARTICIPANTS MARKET PERFORMANCE MARKET PLAYERS MARKET PRICES MARKET PRICING MARKET RETURNS MARKET SHARE MARKET SHARES MARKET STRUCTURE MARKET VALUE MONETARY FUND MONEY LAUNDERING MONOPOLY MORTGAGES MOTOR INSURANCE MUTUAL FUND MUTUAL FUND ASSETS NEW PRODUCTS OPERATIONAL RISKS OUTPUT PENSION PENSION LAW PENSION PRODUCT PENSION PRODUCTS PENSION PROVISION PENSION SYSTEM PENSIONS PORTFOLIOS PRICE COMPETITION PRIVATE SECTOR DEVELOPMENT RAPID GROWTH REAL GROWTH RATE REGISTRATION REQUIREMENTS REGULATOR REGULATORS REGULATORY BODIES REGULATORY CONSTRAINTS REGULATORY FORBEARANCE REGULATORY FRAMEWORK REGULATORY OVERSIGHT REINSURANCE REPO RESERVE RESERVE BANK RESERVES RETIREMENT SAVINGS RETURN RISK MANAGEMENT RISK PROFILES RULE OF LAW SAVINGS SECURITIES SECURITIES MARKETS SHAREHOLDER SHAREHOLDERS SKILLS SHORTAGES SOLVENCY SOLVENCY REQUIREMENTS STARTUP STOCK EXCHANGE STOCK INDEX STOCK MARKET STOCK MARKETS SUPERVISORY AUTHORITY SUPERVISORY POWERS SUSTAINABILITY SYSTEMIC RISK TAX TERM DEPOSITS TERRORISM TRANSACTION TRANSPARENCY TRUST FUNDS UNDERWRITER UNDERWRITING URBAN DEVELOPMENT VALUATION VALUATIONS WARRANTS WITHDRAWAL
Online Access:	http://documents.worldbank.org/curated/en/2013/08/18181246/india-iais-insurance-core-principles-detailed-assessment http://hdl.handle.net/10986/15963

Description
Summary:	This assessment of India's compliance with the International Association of Insurance Supervisors (IAIS) Insurance Core Principles (ICP) was carried out as part of the 2011 Financial Sector Assessment Program (FSAP). Although this is the second FSAP for India, this is the first external assessment of India's compliance with the ICPs. The Insurance Regulatory and Development Authority (IRDA) have principal responsibility for insurance regulation and supervision in India, although the central government also has some reserve supervisory powers. This assessment is based upon information made available to the assessor in preparation for and during the June 2011 FSAP mission. The assessment has also been informed by discussions with regulators and market participants. The assessment employs the 2003 version of the IAIS insurance core principles and methodology and is based on the essential criteria (EC) listed in that document.

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