In March 2000, the Joint Forum set up a Working Group to compare the core principles issued by the Basel Committee on Banking Supervision (Basel Committee), the International Association of Insurance Supervisors (IAIS), and the International Organization of Securities Commissions (IOSCO),...

This is the first attempt by IAIS members and observers to pool resources to develop a body of knowledge that can be implemented by all regulators for use in the training of supervisory staff.

... This document should serve as a basic benchmark for insurance supervisors in all jurisdictions. It can be used when establishing a supervisory regime or for identifying areas in existing regimes that needto be improved ...

... On-site inspection, whether by the supervisory authority or its representatives, is a vitally important part of the supervisory process, closely related to the on-going monitoring process ...

... This standard builds on the framework set out in the IAIS paper Insurance Supervisory Principles approved in September 1997. Its objective is to describe the essential elements of a sound asset management system and reporting framework across the full rangeof investment activities ...

... The Technical Committee of IAIS has decided to build upon the principles relating to coordination and information-sharing between supervisors with respect to international insurance groups and other international financial groups which are significantly involved in insuranceactivities....