New capital standard for international insurers flawed: ABI

The insurance industry faces a new capital shake-up after the
international insurance standards body published the first
incarnation of a framework designed to make capital requirements
uniform.
The International Association of Insurance Supervisors (IAIS)
released version one of the new insurance capital standard (ICS)
after an extensive consultation process which started in December
2014. It called the latest exercise "extended field
testing" and said it will consider feedback as it develops
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