Introduction
Features
Application
General requirements
Comment
The Hong Kong Insurance Authority recently released a 43-page draft guideline on enterprise risk management (ERM)(1) as part of Hong Kong’s move towards a risk-based capital regime.(2) Comments were sought by 6 July 2018.
This consultation exercise aims to:
- align insurers’ capital requirements with the risks to which they are exposed; and
- strengthen insurers’ risk management capabilities.
The draft guideline considers the recent consultation and review of the relevant insurance core principles (ICP) by the International Association of Insurance Supervisors (the global standard for the insurance industry) with an emphasis on risk-based supervision – in particular, ICP 8 and ICP 16 (which…
