Publication: Mexico : IAIS Insurance Core Principles - Detailed Assessment of Observance
Date
2013-03
ISSN
Published
2013-03
Author(s)
International Monetary Fund
World Bank
Abstract
This is a full assessment of the
insurance regulatory and supervisory system in Mexico, to
ascertain its compliance with the IAIS core principles, as a
part of the Financial Sector Assessment Program (FSAP) in
September 2011. This assessment was produced in the course
of a joint International Monetary Fund (IMF), World Bank
mission in Mexico to conduct an update of the IAIS
principles under the FSAP. The recommendations after
conclusion of the assessment include developing and
implementing a comprehensive plan to increase insurance
penetration; ensuring the operational independence and
continuity of the Insurance and Surety National Commission
(CNSF); confirming that the supervisory authority has full
discretion on resource allocation, in accordance to its
mandate, objectives, and the perceived risks; establishing
an implementation plan on the solvency regime; and
revisiting the arbitration mechanism. This document presents
a detailed assessment with regard to the twenty-eight IAIS
principles, examining the system in context of each principle.
Citation
“International Monetary Fund; World Bank. 2013. Mexico : IAIS Insurance Core Principles - Detailed Assessment of Observance. © World Bank, Washington, Dc. http://openknowledge.worldbank.org/handle/10986/16745 License: CC BY 3.0 IGO.”