Balz slams IAIS for rule-making 'behind closed doors'

Failure to engage with European Parliament will delay and undermine international insurance regulation, says MEP

Burkhard Balz
Burkhard Balz, member of the European Parliament's Committee on Economic and Monetary Affairs

The European Parliament has too little input into rules being developed for global systemically important insurers (G-Siis) and the common international framework currently being developed by the International Association of Insurance Supervisors (IAIS), says Burkhard Balz, a member of the European Parliament's Committee on Economic and Monetary Affairs (Econ).

"We do feel very uncomfortable that the development of these international rules is happening behind closed doors," said Balz, speaking