The event, which will focus on Reporting, Review and Redress, is being organised by the Financial Stability Institute (FSI), of the Bank for International Settlements (BIS), in association with the International Association of Insurance Supervisors (IAIS), and with the support of the Bahrain Monetary Agency (BMA).
It will be attended by insurance supervisors from throughout the Middle East & North Africa (MENA) region.
This annual event is the 5th Regional Seminar that has been organised by the FSI. “This is the first time the FSI is organizing this regional seminar in Bahrain, following on previous events that took place in Lebanon and Jordan” said Mr. Tawfiq Shehab, Director, Insurance Supervision, at the BMA.
“The BMA is delighted to partner with the FSI in hosting this important event.”
The seminar will focus on risk assessment and management; reporting to supervisors and off-site monitoring; on-site supervision; interventions, enforcements and sanctions; and winding-up and exit from the market.
Speakers featured at this regional seminar are a mix of supervisors and industry representatives. Included amongst these is Mrs. Gunilla Borer, Senior Financial Sector Specialist, Financial Stability Institute. Mrs. Borer will be speaking on approaches to insurance supervision, including on-site and off-site supervision and the role of market discipline. Mr. Zygmunt Trzebinski, Executive Manager of Claims and Contract Administration from the Arab Insurance Group (ARIG) will speak on exit strategies from the market.
Also included in this seminar will be presentations on the role of the actuary and external auditors in the review process.
“The seminar will add considerable value to the training of insurance supervisors in the MENA region. Such programmes are essential for supervisors, who are being increasingly challenged by the ever-increasing complexities of the financial world,” said Mr. Shehab.
