Recovery and Resolution Planning for Systemically Important Insurers – Guidance on Identification of Critical Functions and Critical Shared Services

Abstract

The FSB is seeking comments on its Consultative Document on the Identification of Critical Functions and Critical Shared Services for Systemically Important Insurers (‘consultative document’).

The FSB, in consultation with the IAIS, has undertaken work on the application of the Key Attributes to systemically important insurers, including those that have been designated as global systemically important insurers (G-SIIs), for which there is a need for guidance on the implementation of recovery and resolution planning requirements. In considering this consultative document, respondents are asked to keep in mind that recovery and resolution planning and assessment processes are iterative in nature and will likely require further refinement and adjustment over time as more experience is gained and more issues are identified for deeper examination.

Responses to this consultative document should be sent to [email protected] by 15 December 2014. Responses will be published on the FSB’s website unless respondents expressly request otherwise.