Insurance capital standard can be forged on time – Cadoni

Chair of IAIS working group asserts ICS will not be mere capital backstop

clock striking twelve with pound sign

The 2019 deadline for the International Association of Insurance Supervisors (IAIS) to devise a worldwide capital standard for insurers will be reached, thinks the chair of the group constructing the policy, even if sceptics say its adoption might take much longer.

Paolo Cadoni, chair of the IAIS's capital, solvency and field-testing working group, says he hopes the framework – which he does not intend to be a "minimum standard" to operate as a backstop to local regimes – in the end will have a