Insurance and financial stability: a Basel view. “Prepared remarks by Jaime Caruana, General Manager of the Bank for International Settlements, before the International Association of Insurance Supervisors, Bottmingen, Switzerland, 20 March 2013. BIS General Manager Jaime Caruana speaks about the importance of the work that the International Association of Insurance Supervisors and the supervisory community are undertaking. He highlights three major challenges:
- cooperation among different supervisors;
- the conceptual challenge of coping with systemic risk; and
- the economic environment, including the deterioration of the creditworthiness of many sovereigns and the protracted low rate environment, known as “low for long”.
- Related postings on the financial system