Financial crisis boosts IAIS campaign

Common rules for insurers across the world would help avert a financial crisis in the insurance sector, said the International Association of Insurance Supervisors (IAIS). Speaking to Bloomberg, vice-chairman of the IAIS Tatsuo Yamazaki said: “As insurance regulators, we have started thinking about what we can do to prevent such a crisis from happening again.” Mr Yamazaki said the IAIS is planning to publish an interim report in January 2010 looking at common rules on capital requirements.