• The most important event for supervisory authorities of the insurance market worldwide, will be held between November 7 and 11, 2022 in Santiago.
• This Conference discusses international standards and best practices in insurance to address both emerging risks and new socioeconomic challenges.
July 6, 2022 - The Financial Market Commission (CMF) announces that Chile will host the 2022 Annual Conference of the International Association of Insurance Supervisors (IAIS), the most important event for supervisory authorities of the insurance market worldwide.
Chile is a founding member of the IAIS and already hosted this Conference back in 2002, making the country a two-time host. The event will be organized by the CMF and held between November 7 and 11, 2022 in Santiago. Representatives from over 200 regulatory and supervisory institutions - 97 percent of the world's premiums - which are members of the IAIS, as well as insurance industry ambassadors, will attend the Conference.
Though originally scheduled for 2020, sanitary restrictions derived from the Covid-19 pandemic made impossible to hold the Conference on the original date.
During the five-day event, both the Annual Conference and various meetings of the IAIS technical and governance committees will take place, with over 350 international representatives slated to attend.
Hosting the 2022 IAIS Annual Conference is particularly relevant to the CMF due to future discussion of the Risk-Based Supervision for Insurance Companies Act. Said Act would be the most important reform of the local insurance market in the last 30 years. It aims to increase the resilience of insurance companies by strengthening their capital and risk management standards, increasing competition among companies, and promoting greater development of the market. This will directly benefit policyholders and the country's financial stability.
The Conference also allows Chile to continue its active contributions through the CMF to debating issues that the IAIS addresses, which set international standards and best practices for the insurance sector to face emerging risks and new socioeconomic challenges.
Registration for the Conference will start in August on the IAIS website, which interested parties can visit to get more information about this event.
