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ICP:11-13, 17, 26

ICP:11-13, 17, 26. At Hyderabad December 29, 2010 A.V.RAO, R.K.Sharma, B. Padmaja. ICP-11: Market Analysis.

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ICP:11-13, 17, 26

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  1. ICP:11-13, 17, 26 At Hyderabad December 29, 2010 A.V.RAO, R.K.Sharma, B. Padmaja

  2. ICP-11: Market Analysis Objective: Making use of all available sources, the supervisory authority monitors and analyses all factors that may have an impact on insurers and insurance markets. It draws conclusions and takes action as appropriate No. of Essential Criteria: 5; No. of Advance Criteria: 2

  3. ICP-11 Contd…

  4. ICP-11 Contd…

  5. ICP-11 Contd…

  6. ICP 12: Reporting to Supervisors and Off-site Monitoring Objective: The Supervisory Authority receives necessary information to conduct effective off-site monitoring and to evaluate the condition of each insurer as well as the insurance market No. of Essential Criteria: 3; No. of Advanced Criteria: 2

  7. ICP 12- Contd.

  8. ICP 12- Contd.

  9. ICP 12- Contd.

  10. ICP 13: On-Site Inspection Objective: The supervisory authority carries out on-site inspections to examine the business of an insurer and its compliance with legislation and supervisory requirements No. of Essential Criteria: 6

  11. ICP 13 Contd…

  12. ICP 13 Contd…

  13. ICP 13 Contd…

  14. ICP 17:Group Wide Supervision Objective: The supervisory authority supervises its insurers on a sole and a group–wide basis. No. of Essential Criteria : 7; In addition there are 6 Prudential requirements

  15. ICP 17 Contd…

  16. ICP 17 Contd…

  17. ICP 17 Contd…

  18. ICP 26: Information, disclosure & transparency towards the market Objective: The supervisory authority requires insurers to disclose relevant information on a timely basis in order to give stakeholders a clear view of their business activities and financial position and to facilitate the understanding of the risks to which they are exposed. No. of Essential Criteria : 4 No. of Advanced Criteria : 1

  19. ICP 26 Contd…

  20. ICP 26 Contd…

  21. THANK YOU

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