The Council’s International program goals:
- To promote the role and value of the insurance intermediary in the international marketplace.
- To liberalize insurance markets to allow intermediaries to operate and service clients in countries around the world.
- To promote sound and efficient regulation of intermediaries in those countries as well as a competitive marketplace.
- Facilitate members’ ability to distribute commercial property/casualty and employee benefit products globally.
- Expand Council’s Non-U.S. membership base to reflect today’s business.
Council’s Policy Position on Liberalization
It has long been recognized that liberalization of trade generally, and trade in financial services in particular, is critical to economic growth. Within the financial sector, a freer market in insurance can play a key role in enhancing such growth. The lowering of trade barriers to the operation of foreign-based insurance agents and brokers is integral to this process. | More
Role of Insurance Intermediaries
The importance of insurance in modern economies is unquestioned and has been recognized for centuries. Insurance intermediaries facilitate the placement and purchase of insurance, and provide services to insurance companies and consumers that complement the insurance placement process. | More
The globalization of the insurance industry has been a boon to the industry, but that expansion comes with greater scrutiny of how the business is regulated. The global financial crisis underscored the need in regulator’s minds for more global oversight and cooperation. As a result, a number of international organizations are developing guidelines and standards for regulating the insurance industry and intermediaries. The Council works with a number of international organizations, including the World Federation of Insurance Intermediaries (WFII), the International Association of Insurance Supervisors (IAIS), the Organization of Economic Development and Cooperation (OECD) and the International Monetary Fund IMF), on shaping regulation of insurance intermediaries. The Council continually monitors world developments for their impact on members’ business.
New! State-based Regulatory Primer
Joint Letter to the U.S. and European Trade Offices Advocating Transatlantic Regulatory Cooperation
The Council Submits International Insurance Statement to U.S. House Financial Services Committee
- Multinational placements
As global trade expands, intermediaries face the challenge of placing insurance policies to cover insureds’ global risks. | More
- IAIS Guidelines for Regulating Insurance Intermediaries
The IAIS is in the process of revising its principles and guidelines for regulating intermediaries. | More
Council Global Connection
The Council Global Connection (CGC) is the world’s largest network of independent, professional insurance brokers and employee benefits consultants in the world. | More