Some of The Issues Addressed By ICISA
sustained technical excellence, innovation and product integrity.
- Review of the effects of cross-border insolvencies
- Recommendations with regard to binding orders and non-cancellable limits
- Report on issues concerning fronting for surety bonds
- Recommendations with regard to so-called pre-shipment cover
- Review of political risk
- Syndication of credit risks
- The impact of globalisation on credit insurance
- Review of co-surety as an alternative to reinsurance
- Monitoring developments in custom and excise bonds
- Exploring new potential areas for surety business
- Publication of the Catalogue of Credit Insurance Terminology
Promoting sustained quality management
- Round table discussions between members exchanging experience and best practices on current challenges
- Review of capital and portfolio management tools
- Review of cycle management options
- Review of the current and future reinsurance environment
- Review of co-insurance and facultative reinsurance options
Advising international and multinational authorities
- Sharing effects of the State Support Schemes
- Creating awareness at the European Commission of the lack of a level playing field for surety products
- Promoting a global level playing field for surety insurers in public contracts
- Counterpart for the Comité Européen des Assurances (CEA) in the drafting and implementation of Solvency II requirements
- Promoting the ICC'S uniform rules for contract guarantees
- Participating in meetings of the UN Commission on International Trade Law (UNCITRAL)
- Advising the International Accounting Standards Board (IASB) on their proposals with regard to the credit insurance and surety sectors
- Advising rating agencies on the role of surety bonds on PPI/PPP infra-structure projects
- Advising CEIOPS / European Commission on Solvency II proposed legislation
- Sharing and assessing the possible impact of Basel III on trade credit insurance and surety industry
Structural initiatives
- Founding member of the International Surety Association (ISA) which undertakes joint projects together with national surety associations of Australia, Canada, Mexico and the USA
- Partner in an industry project to determine the Probable Maximum Loss (PML) or Loss Given Default (LGD) of underwritten risks
- Research into standardising reinsurance requirements
- Press conference calls to inform media proactively on topics of interest
- Publication of an industry Newsletter
- Publishing ICISA Catalogue of trade credit insurance and surety (English, French, Italian, Spanish and German)
Read more about this topic: International Credit Insurance & Surety Association
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