Insurance Prudential Regulation

ICISA actively contributes to global policy and regulatory dialogues that impact our members. We represent the collective voice of credit insurers, sureties, and reinsurers, providing specialized industry perspectives on both sector-specific issues and broader macroeconomic topics.

Our mission is to educate and inform key stakeholders about the mechanics of our industry, demonstrate the financial solidity of our sector, and clarify how evolving regulatory frameworks affect our members’ operations.

Core Regulatory Pillars

Our advocacy and analysis centre on three primary areas:

• Insurance Prudential Rules: Evaluating the direct application of prudential frameworks to the unique risk profiles of credit insurance and surety lines.
• Banking Framework Interaction: Ensuring the just and accurate treatment of credit insurance as a credit risk mitigant within banking prudential rules.
• Market Dynamics: Assessing the impact of state aid and public sector interventions on competitive, private trade credit insurance markets.

European Leadership & Global Application

While our members operate globally, the prominence of the European market makes the ongoing development of the Solvency II framework a primary focus for ICISA. We leverage comprehensive qualitative and quantitative insights from our network to advocate for continuous improvements and fair regulatory treatment within the region.
The extensive experience gained from engaging with the EU and other advanced regulatory jurisdictions equips us to contribute meaningfully to prudential debates worldwide. ICISA strictly follows an evidence-based approach to educate international regulators on the true economic impact of proposed regulatory changes.

Key Policy Priorities

We are deeply engaged in shaping specific, technical aspects of insurance regulation, with a strong focus on:

• Proportionality: Advocating for the con
• Standard Formula Calibration: Ensuring the appropriate calibration of the Standard Formula under Solvency II and equivalent global regimes to accurately reflect actual risk.
• Model Equity: Championing the right of qualified firms to utilize internal risk models, ensuring these approaches maintain equal standing with standardized regulatory methods.
• Line of Business Recognition: Securing the fair and distinct treatment of credit insurance and surety lines within broader insurance frameworks.
• Recovery & Resolution: Ensuring policyholder prioritization remains a central tenet in all corporate recovery and resolution frameworks.