Catalog

	Table of Contents
p. 43 of 58 BACK | NEXT Purpose and Structure of the Toolkit Part One: Introduction and Overview Part Two: Preconditions and Infrastructure for Financial Sector Development Part Three: Financial Regulation and Supervision I. Financial Stability, Development and Institutional Design II. Financial Regulation: General Principles III. Financial Regulatory Structure IV. Banking Regulation V. Bank Insolvency and Depositor Protection VI. Securities and Derivatives Regulation VII. Insurance and Pensions Regulation A. International Standards B. Guidance and Recommendations VIII. Regulation of Financial Conglomerates Part Four: Regional Financial Integration Part Five: ADB's Intervention in the Financial Sector Bibliography Glossary and List of Abbreviations Acknowledgements

Financial Sector Legal and Regulatory Toolkit : Part Three: Financial Regulation and Supervision : VII. Insurance and Pensions Regulation

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B. Guidance and Recommendations

In addressing design and structure of insurance regulation, it is useful to begin with the IAIS Principles and Methodology. The IAIS Principles provide a useful summary and checklist of issues which must be considered in securities regulatory design and implementation through a country's domestic legal system. While they are written at a general level reflecting their status as an internationally negotiated and agreed standard, they are integrated with the IAIS Methodology, so that the two can be reviewed together.

If a country has gone through an FSAP or an insurance ROSC, then this should be reviewed closely as it will provide important guidance in addressing issues. However, if a country has not undergone an FSAP or insurance ROSC, it may refer to the FSAP/ROSC for similar countries as these would provide useful guidance regarding the process for becoming integrated into the international financial system.

Once key issues and design factors have been addressed through the proceeding analysis, it is useful to look at possible models. While there are no internationally agreed model laws, treaties, or standards, the EU regional financial arrangements provide a useful starting point. A variety of EU directives directly addresses matters of insurance regulation, and are useful as a reference point and checklist, as they are directed towards a variety of different legal, economic, and development environments.

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