保险监管核心原则（英文版）_403页-2mb

Insurance Core Principles Summary

Core Content

The Insurance Core Principles (ICPs) are a set of globally accepted standards designed to guide the supervision of the insurance sector. These principles aim to ensure the fair, safe, and stable operation of insurance markets, protect policyholders, and contribute to global financial stability. The ICPs were initially adopted in 2011 and have undergone several amendments in subsequent years to adapt to evolving market conditions and regulatory needs.

The ICPs are structured into a hierarchy of supervisory material, consisting of:

• ICP statements (highest level), which outline the essential elements of a supervisory regime.
• Standards, which are linked to specific ICP statements and set out key requirements.
• Guidance material, which provides detailed implementation support and examples.

These principles apply to all insurers, whether private or government-controlled, and are relevant regardless of the type of insurance products or services. They also extend to insurance groups and insurance-led financial conglomerates, emphasizing the need for group-wide supervision.

Main Views and Key Information

1. Purpose and Scope

• The ICPs are intended to promote financial soundness and policyholder protection.
• They are applicable to all jurisdictions and types of insurance, including life and non-life.
• The ICPs do not apply to intermediaries unless specified.
• The principles support cross-border cooperation and crisis management.

2. Supervisory Framework

• Supervision must be transparent, accountable, and flexible, tailored to the risks and complexity of individual insurers.
• Supervisors must have legal authority and the capacity to enforce it effectively.
• Multiple supervisory authorities may exist in a jurisdiction, requiring coordination to ensure consistent application of the ICPs.

3. Group-wide Supervision

• The term "insurer" includes insurance legal entities, groups, and financial conglomerates.
• There are direct and indirect approaches to group-wide supervision, depending on the supervisory powers of the jurisdiction.
• The goal is to ensure that group-wide risks are addressed appropriately, regardless of the supervisory method used.

4. Implementation and Assessment

• The ICPs can be used to establish or enhance a supervisory system.
• Assessment Methodology is provided to evaluate how well a jurisdiction complies with the ICPs and standards.
• Assessments should consider the domestic context, industry structure, and macroeconomic conditions.
• The ICPs are not prescriptive; they offer flexibility for supervisors to adapt to local conditions.

5. Preconditions for Effective Supervision

• Effective insurance supervision relies on external preconditions, such as:
  • Sound macroeconomic policies
  • Well-developed public infrastructure
  • Effective market discipline
  • Appropriate systemic protection mechanisms
  • Efficient financial markets
• These preconditions are not subject to assessment but should be monitored for their impact on the effectiveness of supervision.

Assessment Categories

• Standards are assessed using five categories: Observed, Largely Observed, Partly Observed, Not Observed, and Not Applicable.
• For a standard to be observed, the supervisor must have legal authority and effectively implement the requirements.
• Assessments are based on current legislation and practices, but may include comments on proposed improvements.

Assessment Methodology

• The assessment methodology includes a review of preconditions and an assessment of ICPs.
• The review of preconditions should be descriptive, focusing on:
  • Macro-economic and financial sector policies
  • Public infrastructure
  • Market discipline
  • Safety nets
  • Financial market efficiency
• The assessment of ICPs should be system-wide, and may be conducted through:
  • Self-assessment by insurance supervisors
  • Third-party reviews
  • FSAP reviews by the IMF and World Bank

Conclusion

The ICPs are a comprehensive and flexible framework for insurance supervision. They are designed to be globally applicable, while allowing for local adaptation. The assessment methodology ensures that the effectiveness of supervision can be evaluated in a consistent and credible manner, with a focus on policyholder protection and financial stability.