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 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.

Bibliographic Details

Main Authors:	International Monetary Fund, World Bank
Format:	Financial Sector Assessment Program (FSAP) biblioteca
Language:	English en_US
Published:	World Bank, Washington, DC 2013-08
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
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