Insurance industry groups have condemned the Basic Capital Requirement (BCR) proposal for global systemically important insurers (G-Siis) as bankcentric and out of kilter with insurers' business models.
The International Association of Insurance Supervisors (IAIS) closed its second consultation on the BCR on August 8. A number of industry responses have been made publicly available, many expressing deep concerns with the proposal. Insurance Europe wrote that certain omissions could prove "fatal
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