GFIA Global Federation of Insurance Associations

Post-crisis regulation has been implemented to ensure that banks have recovery and resolution plans in place and that regulators have the necessary tools to deal quickly with a bank failure, thereby limiting contagion of the wider financial system and losses for taxpayers.

International institutions such as the Financial Stability Board are now assessing whether similar special measures are needed to deal with the potential failure of an insurer.

GFIA is engaging with policymakers to explain insurers’ unique business model and why contagion risks are so much lower in insurance than in banking.