Central Bank Insurance Supervisors Draw-up Action Plans

Central Bank Insurance Supervisors Draw-up Action Plans For Inclusive Insurance In Their Jurisdictions

Insurance supervisors from five pacific island countries and Timor Leste drafted action plans for their respective jurisdiction and identified the key challenges, gaps, and technical assistance requirements across a wide range of topics including inclusive insurance, microinsurance, risk management and on-site supervision.

This was the result of a weeklong Insurance Supervisors Workshop held between August 5th and 9th at the Novotel in Nadi. 

Key priority areas for intervention in the future include the development and implementation of a model regulatory framework for inclusive insurance, building capacity on a regional basis on topics like reinsurance and risk based supervision principles and assistance in expanding insurance literacy to clients.

The actions plans and technical assistance needs of regional significance will be presented to the Pacific Island Working Group members in September and they will finalize the key areas for future engagement.

ENDS

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