OECD and IAIS publish issues paper on insurer corporate governance

The OECD and IAIS have begun a public consultation in respect of their joint issues paper on the main issues relevant to the corporate governance of insurers. The paper discusses, inter alia, governance structures, board functions, risk management, the external auditor's role, disclosure and transparency and relationships with stakeholders. The paper's purpose is not to present proposals or recommendations but to inform the future work of the OECD and IAIS. It makes for interesting reading because it does not focus on a single jurisdiction.

Note: in 2005 the OECD published guidelines for insurers' governance and in 2007 the IAIS published recommendations for the governance of insurers.