The International Forum of Insurance Guarantee Schemes (IFIGS) was formed by a group of insurance guarantee schemes from around the world interested in sharing their experiences in providing policyholder protection in the event of an insurance company failure.
To learn more or for Q & A, click here.
IFIGS holds regular regional and international meetings throughout the year. The meetings are a unique networking opportunity uniting leaders from around the world. The events feature speakers and panel discussions. It is an occasion for the participants to discuss best practices and ask questions about other organisations’ operations.
2016 Asia regional meeting will be hosted by Taiwan Insurance Guaranty Fund(TIGF) on April 18-19 2016 in Taipei. Click here to find more information.
IFIGS publishes “Principles of Funding” paper!
IFIGS publishes its first research paper – “The Principles of Funding Insurance Guarantee Schemes”. As the international forum for IGS, IFIGS has examined the principles of funding, and published its findings.
The purpose of the paper is a) to inform stakeholders about the different funding methods chosen by various IGS to meet their needs and their stakeholders’ needs, and b) to provide the basis for constructive discussion and debate on funding for IGSs. The paper draws on the experience of its members, setting out the varying approaches taken by 21 IGSs across the world.
As well as identifying the design principles, the paper considers pre and post funding; funding sources, including back up funding; the assessment bases for calculating contributions, and risk based approaches; and the management by the IGS of funds.
IGSs operate across the world, serve the common purpose of consumer protection and are vital for the development of an appropriate financial stability system.