What does the International Association of Insurance Supervisors (IAIS) focus on?

The International Association of Insurance Supervisors (IAIS) is primarily focused on establishing global standards for insurance supervision. This international organization plays a critical role in promoting effective and globally consistent supervision of insurance companies, thereby enhancing the stability of insurance markets and protecting policyholders. The IAIS develops a framework for insurance regulations and facilitates cooperation among national insurance supervisors, ensuring that they can effectively oversee the insurance industry within their jurisdictions.

In contrast, the provision of insurance directly to consumers pertains more to the operational aspect of the insurance market rather than supervisory standards. Focusing solely on Canadian insurance regulations does not encompass the broader international aim of the IAIS, which seeks to harmonize regulations across multiple countries. Finally, professional networking among insurance advisors is a different function that does not align with the primary mission of the IAIS, which is regulatory in scope rather than focused on individual career development within the industry.