Since the financial crisis erupted in 2008, policymakers around the world have been working on improving financial markets oversight in order to increase global financial stability. The role of insurance has been an area of particular focus.
In the aftermath of the financial crisis, regulatory bodies of the financial services industries have initiated a wide range of initiatives to strengthen international capital standards and, more generally, regulation.
The development of new and demanding regulatory measures is set to continue. The Geneva Association is continuing its efforts to ensure that new policy measures are appropriate, targeting the real underlying risk and are being developed with due attention to the insurance business model.