As the insurance market landscape continues to change, insurance supervisors require adequate human, financial and technological resources to deliver on their supervisory objectives, respond to market developments, implement regulatory reforms in line with international standards and cope with technological advancements and expanding supervisory mandates. Drawing on a survey of 23 insurance supervisors, encompassing both advanced and emerging market economies, this paper outlines key challenges in securing adequate resources and identifies approaches for effective identification and allocation of supervisory resources.
The views expressed in this publication are those of the authors and do not necessarily reflect the views of the BIS, its member central banks or the Basel-based standard-setting bodies.
