Regional Workshop for Asian Insurance Supervisors 28 to 30 August 2017 Singapore The Regional Workshop for Asian Insurance Supervisors aimed to strengthen the capacity of countries to manage crisis, counter fraud, and conduct anti-money laundering activities. It provided a comprehensive discussion of the Insurance Core Principles (ICP), the globally accepted framework that guides the insurance industry, and the ways it can be concretly applied to secure a financially sound insurance sector. Program and Learning Materials 28 August 2017 29 August 2017 30 August 2017 Session / Activity Title Speaker(s) Opening Session Welcome Remarks Fong Wai Seng Opening Session Workshop Overview and Objectives Arup Chatterjee Session 1 Overview of the IAIS Core Principle on Crisis Management and Supervisory Cooperation The International Association of Insurance Supervisors Core Principles (ICP) provides a framework for the regulation and supervision of the insurance… Jeremy Quick Session 2 Experience of Cross-border Cooperation in the Asian region (Interactive discussion with participants) Arup Chatterjee Session 3 Supervisory Cooperation and Collaboration and Crisis Management Financial markets, being highly interconnected and global in scope, need to have an effective oversight body. The National Association of Insurance… Ekrem Sarper Session 4 Guernsey’s Experience of Cross-border Coordination in Crisis Management Jeremy Quick Session 5 Insurance Core Principles and Crisis Management The insurance industry is vulnerable to financial instability or systemic risks. These risks include weak supervision and poor market discipline… Rodolfo Wehrhahn Moderated Discussion Enhancing Crisis Management Capacity in Asia Session / Activity Title Speaker(s) Session 2.1 Countering Fraud in Insurance Insurers and intermediaries are required to take effective measures to prevent, detect, report, and remedy fraud in insurance.This presentation… Ekrem Sarper Session 2.2 Interactive Discussion on Experiences in Countering Fraud in the Asian Region Session 2.3 US Experience in Combating Insurance Fraud Insurance can be vulnerable to fraud. In the United States of America (USA) alone, insurance fraud costs about US$80 to 230 billion each year… Ekrem Sarper Session 2.4 Countering Insurance Fraud Countering fraud in insurance is a must. The Insurance Core Principle (ICP) 21 guides insurance supervisors in detecting and reporting fraud, as well… Rodolfo Wehrhahn Session 2.5 Enhancing Supervision to Combat Insurance Fraud Moderated Discussion Session 2.6 Overview of the IAIS Insurance Core Principles on Anti-Money Laundering and Combating Financing of Terrorism In insurance, two entities set the standards for combating money laundering and financing of terrorism: the International Association of Insurance… Fiona Crocker Session / Activity Title Speaker(s) Session 3.1 Identifying, Understanding & Assessing Money Laundering and Terrorism Financing Risks in Insurance Insurance Core Principle (ICP) 22 provides insurance supervisors guidelines on anti-money laundering and combating the financing of terrorism. This… Leo Mucheriwa Session 3.2 Implementation of Anti- Money laundering Standards in Asia Interactive discussion with participants Session 3.3 Balancing AML/CFT requirements and financial inclusion Moderated Discussion Closing Session Feedback and Closing Remarks Disclaimer The views expressed on this website are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank (ADB) or its Board of Governors or the governments they represent. ADB does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use. By making any designation of or reference to a particular territory or geographic area, or by using the term “country” in this document, ADB does not intend to make any judgments as to the legal or other status of any territory or area. Event Coordinator/s Finance Sector Group ADB Organizer/s Finance Sector Office Topics Finance