Regulatory Alerts2012-06-28
Inspection Rating System for Insurance Companies
The Financial Services Agency implemented the Insurance Inspection Rating System to evaluate insurers through a four-grade scale across eight key management areas. This framework links inspection results to selective regulatory measures, such as adjusting the frequency and scope of future audits, to promote voluntary improvement and transparency. The system applies to all domestic and foreign life and non-life insurance companies and includes a formal process for companies to contest rating outcomes.
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